Boeing made a big splash on the first day of the Farnborough International Airshow, securing an estimated $12.6 billion in aircraft sales despite its limited presence at the aviation industry’s largest event of the year.
This year, Boeing took a different approach at the UK aviation fair, opting not to bring any test aircraft to the show. Instead, the company focused on “factory safety and quality,” according to recent announcements.
This scaled-back participation contrasts sharply with its robust presence in 2022 when Boeing featured the 737 MAX 10 and 777X in the daily flying display.
Despite the limited physical presence, Boeing dominated the first day of dealmaking with a multibillion-dollar agreement with Korean Air Lines. The much-needed deal included orders for 20 777-9 and 20 787-10 Dreamliner jets, plus options for 10 more 787s, bringing the total to nearly 50 jets sold.
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This significant order secured an enduring advantage for the U.S. planemaker over its longtime competitor Airbus in the market for the largest and most expensive aircraft. On Monday alone, Boeing’s orders amounted to 78 planes, comprising 56 firm orders and 22 options, while its European competitor signed a deal for 20 twin-aisle A330s.
For decades, the Farnborough Airshow has been one of the world’s top venues for planemakers like Boeing and Airbus to announce billions of dollars in orders. However, this year’s show is likely to be overshadowed by growing airline frustration over plane shortages and delays from the two competitors that dominate the commercial aircraft market.
The airshow is a crucial platform for both manufacturers to demonstrate their latest innovations and secure new business amid a recovering aviation market. Airline executives are increasingly frustrated with the long waits for new products.
Boeing: Focus on Safety and Deals
Boeing’s emphasis on safety and quality comes in response to ongoing supply chain challenges and previous safety and quality issues. The company has struggled to deliver its 787 Dreamliner over the past two years, affecting its ability to meet the rising demand for wide-body aircraft as international travel rebounds.
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“We have reduced our commercial airplanes display and flight demonstrations at the show and will focus on new technology, sustainability, security, and services solutions,” said Dr. Brendan Nelson AO, president of Boeing Global, in a statement.
Static displays of aircraft parked on the tarmac are one of the biggest attractions for air show attendees. This year, Boeing is showcasing a single aircraft: a 787 from Qatar Airways. In contrast, Airbus will have three of its passenger jets on display, each owned by its airline customers.
The company continues to grapple with the fallout from the 737 MAX disasters, which killed a total of 346 people, and other safety concerns, most notably the midair blowout that left a hole in the side of Alaska Flight 1282 as it lifted off from Portland in January.
The Korean Air deal brings another piece of positive momentum to the aerospace giant. Last week, Boeing received a major boost just before the show with the FAA granting Type Inspection Authorization (TIA) for the 777X. That approval allows the start of test flights needed for the 777-9 to gain passenger service approval, which is crucial for Boeing’s commercial airline business.
Airbus: Expanding Presence and Market Gains
In contrast to Boeing’s quiet presence, Airbus is going all out at Farnborough. The company is displaying several aircraft, including an Air India A350-900, a JetBlue A220-300, and a Virgin Atlantic A330neo. The Airbus A321XLR, expected to enter service later this year with launch customer Iberia, will be a highlight, performing flypasts on all five days of the airshow.
However, like Boeing, Airbus is also experiencing challenges, primarily due to lingering supply chain problems.
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On the first day of the fair, Airbus announced a major deal with the Philippines-based airline Cebu Pacific. The airline signed a memorandum of understanding for 102 A321neos and options for 50 more A320neos, an estimated USD $24 billion deal, marking the largest aircraft order in Philippine aviation history.
Airbus continues to gain market share, driven by strong sales of its A320 family, particularly the A321neo model. The A321XLR has already secured over 550 orders ahead of its entry into service, underscoring its popularity among airlines seeking to replace older Boeing 757 and 767 aircraft.
So far this year, Boeing has trailed Airbus in sales. The U.S. planemaker has netted 186 orders for new jets compared with 259 for Airbus. Airbus’s A320 family of jets now commands a 59% share of outstanding orders for narrow-body jets, compared with the 41% for Boeing’s 737 MAX family, according to aviation data provider Ascend by Cirium.
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