financetom
Business
financetom
/
Business
/
Airbus snaps up deals as Qatar Airways weighs wide-body options
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Airbus snaps up deals as Qatar Airways weighs wide-body options
Jul 23, 2024 5:18 AM

FARNBOROUGH, England (Reuters) - Airbus announced plane deals with Japan Airlines ( JPNRF ) and Virgin Atlantic at the Farnborough Airshow on Tuesday, while Qatar Airways held out the prospect of a "sizeable" order for wide-body jets around the end of this year or in early 2025.

Delegates are expecting limited deal-making at this year's showcase aviation industry event, with Europe's Airbus and U.S. rival Boeing ( BA ) sold out for several years of production and struggling to ramp up output.

Weak results from several airlines have also stoked concerns that the post-pandemic boom in travel is fading, though the jetmakers say this has not affected demand for planes so far.

Japan Airlines ( JPNRF ) finalised an order for 20 Airbus A350-900 and 11 A321neo jets, worth just over $3 billion in total, according to estimated delivery prices from Cirium Ascend.

The airline had said in March it would buy 21 wide-body A350s and 11 A321neo narrow-body jets, but it is only ordering 20 A350s now as it will receive one as a replacement for a jet destroyed in January in a collision with a Coast Guard aircraft.

Virgin Atlantic, meanwhile, ordered seven more Airbus A330-900s in a deal worth about $807 million, according to Cirium Ascend estimates.

The order builds on the airline's initial A330neo order in 2019 and will take its total A330neo fleet to 19. Reuters reported on Sunday that Virgin Atlantic was close to placing a top-up order for A330neos.

Also at the show, Qatar Airways CEO Badr al Meer said the airline would decide on a "sizeable" new order of wide-body jets around the end of this year or in the first quarter of 2025.

He added the company had also decided to extend the service life of its Airbus A380 jets and would carry out upgrades including new wifi.

Airlines are increasingly looking to run existing planes for longer as jetmakers struggle to deliver on their order backlogs.

Consultancy Bain said in a report last week that airlines faced their longest ever waits for engine maintenance amid the shortfall in new aircraft, adding to their costs.

British Airways CEO Sean O'Brien said at the air show that his airline was being "very vigilant" on new plane deliveries, but that at the moment "our planes are broadly coming in the timelines that we need them to come".

(Addition reporting by Allison Lampert, Tim Hepher, Joe Brock and Abhijith Ganapavaram; Editing by Mark Potter and Jo Mason)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Perella Weinberg Swings to Q1 Profit, Revenue Rises; Shares Up
Perella Weinberg Swings to Q1 Profit, Revenue Rises; Shares Up
May 26, 2025
07:34 AM EDT, 05/02/2025 (MT Newswires) -- Perella Weinberg Partners ( PWP ) reported Q1 adjusted earnings Friday of $0.28 per share, swinging from a loss of $0.73 a year earlier. No comparable FactSet estimates were available. Revenue for the quarter ended March 31 was $211.8 million, up from $102.1 million a year earlier. Analysts surveyed by FactSet expected $205.5...
Sierra Metals Reviewing Alpayana's Sweetened Takeover Bid
Sierra Metals Reviewing Alpayana's Sweetened Takeover Bid
May 26, 2025
07:34 AM EDT, 05/02/2025 (MT Newswires) -- Sierra Metals ( SMTSF ) on Friday said its board is reviewing Alpayana's sweetened offer to acquire the company at $1.15 per share, an increase from the previous bid of $1.11 per share. Alpayana extended the bid until May 12. Sierra, the owner of the Yauricocha mine in Peru and the Bolivar mine...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
UBS Comments on Premier Carney Winning a Minority Government in Canada
UBS Comments on Premier Carney Winning a Minority Government in Canada
May 26, 2025
07:34 AM EDT, 05/02/2025 (MT Newswires) -- Former central bank governor Mark Carney won Monday's Canadian elections for prime minister, though with only 169 seats projected, his Liberal party is just short of the 172- seat majority threshold, sai UBS. However, the bank expects PM Carney to be able to get other parties on board to decide on his planned...
Copyright 2023-2026 - www.financetom.com All Rights Reserved