Phenomenal First Day for the Farnborough International Airshow
The Farnborough International Airshow saw $46.4bn in deals announced on the first day, surpassing the figure achieved on the first day of the 2016 Airshow which stood at $23bn.
Orders were placed for 311 civil aircraft across the show worth $43.6bn.
More than $2.8bn in engine orders were also announced.
Going into the show, the commercial aircraft backlog stood at 14,327 – the largest ever.
The Prime Minister, Theresa May, officially opened the Airshow, which comes 37 weeks before the UK leaves the European Union.
Speaking at the Opening Ceremony, Mrs May stated: “This is an incredibly exciting time for aerospace. Not only is there huge growth potential, but many of the developments taking place have the potential to transform the way we fly.”
Gareth Rogers, Chief Executive of Farnborough International said: “The Farnborough International Airshow connects an industry worth $350bn. From the orders announced through to the presence of global industry leaders and government representatives from around the world, it is the preeminent showcase for businesses of all size.”
“We’ve seen an incredibly strong start to the Airshow which is the biggest event of this size hosted in the UK, and this year hosts its most international attendance ever with nearly 100 counties represented.”
The Prime Minister was joined by astronaut Tim Peake who was at the Airshow’s Space Zone following the announcement of a vertical launch spaceport in Sutherland, Scotland.
The Farnborough International Airshow continues all week. This year is the most globally-attended with nearly 100 countries represented and an unprecedented number of military and civil commercial delegations.
Day Two at the Farnborough International Airshow and the Figures Keep Rising
Day two of the Farnborough International Airshow has seen a further $51.4bn in deals.
More than 530 aircraft have been ordered today, bringing the total value of aircraft ordered at the Airshow so far to $95.5bn.
With Monday’s engine and engine service agreements, this brings the total amount of business done by the close of Tuesday to more than $98bn. This is $23bn up on the first two days of the 2016 Farnborough International Airshow.
Amanda Stainer, Farnborough International Commercial Director says: “I am delighted that the global aerospace industry uses the Farnborough International Airshow as the preeminent platform for doing business and signing major deals.
“The future starts at Farnborough; our exhibition halls are full of innovation that will shape how we fly, enabling us to go further, faster and with less environmental impact.”
Strong political attendance continued at the show with Nicky Morgan MP, Chair of the Treasury Select Committee opening a FINN Conference Session.
Speaking about the Government’s Brexit White Paper, Ms Morgan said: “[The White Paper] will require compromises and trade-offs but it is a step in the right direction.” Ms Morgan also referenced the changes of balancing politics with the business agenda, and made the point that all negotiations “go up to the wire”.