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Farnborough Air Show 2016: Airbus & Boeing positive on sales outlook

CCTV.com

07-12-2016 16:58 BJT

The 2016 Farnborough Air Show wrapped up its first day in heavy rain but big aviation companies at the exhibition didn't seem bothered by the weather or Britain's vote to leave the European Union. Airbus and Boeing announcing deals valued at nearly 13 billion dollars, with big orders coming from China. 

Heavy rain cut short the first day of the Farnborough Air Show.  It was the first international event after Britain voted to leave the European Union. Big aviation companies are positive though, betting their hopes on the fast expanding Chinese market.

"The Chinese market is very special, it has a large population, and a fast growing economy. When GDP per capita reaches 10,000 to 15,000 dollars, the aviation industry and tourism industry will grow at an exponential rate," said Chen Juming, CEO of Airbus, China. 

"As China's aviation infrastructure facilities improve, and the building of new airports, demand for aviation industry will be released steadily."

As for the impact of Brexit on Airbus's manufacturing arm in the UK, Chen said changes will follow.

"We have a factory in the UK with thousands of workers making wings for us. The aviation manufacturing industry in the UK is a very important part of the global aviation industry, therefore we are disappointed at the result of the vote."

"However, we will adopt appropriate strategies based on competition and change of situation," said Chen.

The organiser of the Farnborough Air Show focuses on new opportunities. Chinese budget carrier Xiamen Airlines signed a memorandum of understanding for 30 Boeing 737 MAX 200 aircraft.

Meanwhile, Boeing announced a new partnership with the UK government on Monday, involving a contract for nine new P8 maritime patrol aircraft, and 50 attack helicopters.

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