Latest news with #ChristianScherer
UPI
12 hours ago
- Business
- UPI
Paris Air Show: Airbus gets nearly $21 billion in orders
Airbus executive vice president for sales of the commercial aircraft business, Benoit de Saint-Exupery (L), the Airbus chief executive officer of the commercial aircraft business Christian Scherer (C) and the chief executive officer of LOT Polish Airlines, Michal Fijol show agreement documents for purchasing Airbus A220-100 and A220-300 passenger jets at the 55th edition of the International Paris Air Show on Monday. Photo by Christophe Petit Tesson/ EPA-EFE June 19 (UPI) -- During the Paris Air Show, Airbus on Thursday reported robust orders of nearly $21 billion, while Boeing was in the background as it struggles with a host of issues. The European aircraft manufacturer reported 142 firm orders and an additional 102 jets under provisional agreements. Airbus customers include Saudi lessor AviLease and LOT Polish Airlines, with 40 orders each. All Nippon Airways ordered 27 jets and Riyadh Air ordered 25 A350-1000 wide bodies. Starlux in Taiwan ordered 10 Airbus airliners and EgyptAir expanded an order from 10 to 16 jets. Boeing kept a low profile at the Paris Air Show, but recently got a Qatar Airways 210 airliner order during an official U.S. government diplomatic visit in the Middle East. Despite Airbus orders surging at the air show, both aircraft manufacturers are experiencing backlogged orders as they continue to face supply issues. Air Lease Corp CEO John Plueger told CNBC, "Both Airbus and Boeing are all sold out to 2031 and '32 anyway. So how many follow-on orders into the '33, '34, '35 time frame are you really going to see? ... But overall, the demand environment remains very robust." An Airbus order and delivery summary as of May 2025 shows total orders at 24,836. Boeing did not do aircraft fly-bys or major promotions at the Paris show. CEO Kelly Ortberg was to attend, but that plan was disrupted by the Air India Boeing Dreamliner crash, which claimed at least 280 lives, including 39 people on the ground.
Time of India
13 hours ago
- Business
- Time of India
Paris Air Show 2025 turns in Airbus's favour with multi-billion dollar deals as Boeing reels from 787 Dreamliner crash fallout
The Paris Air Show , one of the biggest global events for the aerospace industry, is underway, but 2025's atmosphere feels different. While Airbus celebrated $21 billion worth of aircraft orders, rival Boeing maintained a quiet presence following the tragic Air India Flight 171 crash, which killed over 270 people last week. Airbus Takes the Lead With Major Orders European aircraft maker Airbus signed multiple new deals at the show, including: 10 long-haul jets ordered by Starlux Airlines from Taiwan 2 A350 freighters ordered by MNG Airlines 6 A350-900 jets revealed to be ordered by EgyptAir 40 A220 aircraft for LOT Polish Airlines Up to 150 single-aisle jets in a deal with VietJet Big wins in Saudi Arabia, including orders from Riyadh Air and AviLease In total, Airbus secured 148 firm orders worth around $14.2 billion, and another 102 provisional orders estimated at $6.7 billion, according to Cirium Ascend. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo Airbus's planemaking CEO, Christian Scherer, opened each announcement with condolences for the victims of the India crash. 'It is an air show with a regrettable tragedy that has affected all of us,' he told Reuters. Boeing Holds Back Amid Grief and Investigation In contrast, Boeing chose not to announce any major orders. The American company pulled back from its usual air show presence to focus on the investigation into the Air India crash. Live Events Top executives, including CEO Kelly Ortberg, cancelled their attendance, with a statement saying they needed to 'be with our team and focus on our customer and the investigation.' At Boeing's booth, visitors noticed bouquets of flowers and a framed message that read: 'Honouring those affected by Air India Flight 171.' Boeing's Turbo Sjogren said the tragedy had 'affected all of our employees,' describing the show's tone as 'very different' for the company. Talks and Missed Deals There had been rumours of a possible AirAsia mega deal at the show, with CEO Tony Fernandes saying discussions are ongoing to buy up to 70 A321XLRs and 100 A220s or Embraer E2 regional jets. However, the deal is likely to be finalised later, after AirAsia completes its financial restructuring. Meanwhile, Embraer confirmed an order for 60 E175 jets from SkyWest Airlines, with rights to buy 50 more. Supply Chain Issues Easing Despite high demand, aircraft makers have been facing supply chain issues, especially with engine deliveries. Airbus said it has seen 40% fewer disruptions in early 2025 compared to the previous year. Inputs from agencies
Business Times
a day ago
- Business
- Business Times
Airbus hits US$21 billion orders at Paris Air Show as Boeing focuses on India crash
[PARIS] Airbus secured more aircraft orders on Wednesday, raising its total to US$21 billion at this week's subdued Paris Air Show, while rival Boeing opted not to announce new sales following last week's Air India 787 crash. Airbus firmed up an order for 10 long-haul jets from Taiwan's Starlux Airlines in a boost for the European planemaker after one of its biggest customers, AirAsia, dashed expectations of another grand finale matching its earlier expansion. Airbus won a total of 148 firm orders worth US$14.2 billion including six previous ones disclosed publicly for the time, plus 102 provisional orders worth US$6.7 billion, according to estimated delivery prices from UK-based Cirium Ascend. Delegates had been bracing for a more muted show than usual after Boeing struck huge deals during US President Donald Trump's recent trip to the Middle East. The US jetmaker then scaled back its presence at the show to focus on the probe into last week's deadly crash of an Air India Boeing 787. But Europe's Airbus has been steadily racking up business, and underscored confidence about growing demand by holding out the prospect of higher dividends. It prefaced each show announcement with sympathies for India victims, however. 'It is an air show with a regrettable tragedy that has affected all of us,' Airbus planemaking CEO Christian Scherer told Reuters. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Despite the sombre tone, talk was rife before and during the event at Le Bourget outside Paris that Airbus might seal a major deal with AirAsia to add a final flourish to the gathering. Airline entrepreneur Tony Fernandes, the CEO of AirAsia owner Capital A Group, told Reuters that it was in talks to buy 50 to 70 A321XLR jetliners, and 100 A220s or competing E2 regional jets from Brazil's Embraer. But he played down the chances of a deal in Paris, saying the first priority was to complete the group's restructuring. 'We're still doing a lot of work with Airbus and other (manufacturers) .... I think we'll look to do something imminently, in the next 1-3 months,' he said in an interview. Two industry sources said Airbus had made an 'aggressive' offer to boost A220 orders and win a launch customer for a new 160-seat version but that talks stalled over financing. Another said it would be natural to resume discussions around July when the company expects to exit its financial troubles. 'Different show' Embraer said on Wednesday it had secured an order for 60 of its E175 regional jets from SkyWest Airlines, which also agreed purchase rights for a further 50 of the aircraft. Airbus announced an order for two A350 freighters from logistics company MNG Airlines, and EgyptAir was unveiled as the previously-undisclosed buyer of six A350-900 long-haul jets. Planemakers have been struggling to keep up with demand for new, more fuel-efficient aircraft since the end of pandemic-era travel restrictions, with supply chain problems - particularly with engines - delaying some deliveries. Airbus said on Wednesday, however, that since early 2025 it had experienced 40 per cent fewer disruptions caused by delayed components at its production facilities. 'It has been a very different air show from those we have seen in the past, which have tended to be wall-to-wall aircraft orders,' Agency Partners analyst Sash Tusa said. 'Civil orders have been affected by .... Boeing being very careful about how they announce or don't announce things,' he said. In another shift, he said, Airbus focused on securing public backing for planes that could benefit from more orders like the A220, rather than its heavily sold-out A320neo family. On the defence side of the show, US drone maker Anduril and Germany's Rheinmetall said they would partner to build aerial drones for European markets, in a sign of Europe leveraging US technology to boost military capabilities. REUTERS
Euronews
2 days ago
- Business
- Euronews
Airbus pledges higher dividends as it confirms financial guidance
Airbus SE introduced a new dividend policy on Wednesday, increasing the amount it intends to pay to shareholders in the future. The firm increased its new dividend payout ratio limit from 40% to 50% of the share of profits, bringing the new payout range to 30%-50%. Airbus also hinted at the possibility of paying out a special dividend and introducing share buyback programmes. The planemaker and defence company also said that it would maintain its long-term cash conversion target, a measurement of the firm's efficiency in converting its profits into cash. 'Airbus will reaffirm its commitment to profitable growth and its cash conversion target of around 1 over a 5-year horizon,' the company said. Airbus' share price increased by 3% by around 11.00 CEST, following the announcement. The company's statement comes at a time of global trade uncertainty and supply chain disruptions. Airbus set a goal of handing over 820 aircraft this year. Ongoing supply chain issues slowed the deliveries in the first months of 2025, but Christian Scherer, CEO of the company's core planemaking business, said that Airbus remains "cautiously hopeful" about meeting its 2025 target. Meanwhile, Airbus' defence business is thriving. With the EU preparing a significant defence budget increase, the firm is expecting its military helicopter orders to grow by 50% between 2023 and 2025. Airbus is also developing a drone portfolio, aiming to become a market leader in this segment. Airbus started this week at the Paris Air Show, announcing new orders from Saudi Arabia and Poland. Airbus also recently signed a framework agreement with the French military for purchases of navy drones, and secured another deal with Singapore to deliver military helicopters. European shares showed a slight rise in early trading and oil prices remained high on Wednesday as investors tracked the escalation of the conflict in the Middle East. US benchmark crude oil was down around 0.43% at $74.52 per barrel, while Brent, the international standard, slipped around 0.52% to $76.05, although both WTI and Brent remain high on the month. Crude prices rose more than 4% on Tuesday after US President Donald Trump left a Group of Seven summit in Canada early and warned that people in Iran's capital should evacuate immediately. Within about eight hours, Trump went from suggesting that a nuclear deal with Iran remained 'achievable' to urging Tehran's 9.5 million residents to flee for their lives. Iran and Israel continued to exchange airstrikes on Wednesday. The fighting has driven prices for crude oil and gasoline higher because Iran is a major oil exporter and it sits on the narrow Strait of Hormuz, through which much of the world's crude passes. Past conflicts in the area have caused spikes in oil prices, though they've historically proven brief after showing that they did not disrupt the flow of oil. European stocks, meanwhile, showed faintly positive trends in early trading. The DAX 40 was up around 0.11% at 23,461.41, the CAC 40 rose 0.29% to 7,706.08, the STOXX 600 was broadly flat, while the FTSE 100 rose 0.23% to 8,854.79. Earlier in the day, Asian stock markets showed a varied picture. Tokyo's Nikkei 225 jumped 0.78% to 38,837.48. Hong Kong's Hang Seng dropped 1.17% to 23,698.65 while the Shanghai Composite Index rose 0.3% to 3,388.77. The Kospi in Seoul gained 0.54% to 2,966.20 while Australia's S&P/ASX 200 shed 0.1% to 8,533.10. On Tuesday, US stocks slumped under the weight of higher oil prices and weaker than expected retail sales in May. Trump raised the temperature on Israel's fight with Iran by calling for 'Unconditional surrender!' on his social media platform and saying, 'We are not going to' kill Iran's leader, 'at least for now'. The S&P 500 fell 0.84% to 5,982.72 and the Dow Jones Industrial Average dropped 0.7% to 42,215.80. The Nasdaq composite fell 0.91% to 19,521.09. On early Wednesday morning in the US, S&P futures rose 0.11% to 5,991.50, Dow Jones futures increased less than 1% to 42,245.00, while Nasdaq futures advanced by 0.13% to 21,759.00. The markets will be looking to the Federal Reserve as it makes a decision on its interest rates today. The nearly unanimous expectation among traders and economists is that the Fed will make no move. In currency trading early on Wednesday, the US dollar fell 0.2% to 144.94 Japanese yen. The euro edged 0.18% higher, to $1.1502.
Daily Tribune
3 days ago
- Business
- Daily Tribune
Riyadh Air Orders 25 Airbus A350-1000 Aircraft, Eyes Future Expansion
AFP | The Hague, Netherlands Riyadh Air, Saudi Arabia's new premium international airline, has confirmed a major order for 25 Airbus A350-1000 aircraft, with the potential to double the number to 50 in the future. The deal was officially signed during the Paris Air Show and attended by key figures including H.E. Yasir Al-Rumayyan, Governor of Saudi Arabia's Public Investment Fund (PIF), Christian Scherer, CEO of Commercial Aircraft at Airbus, and Riyadh Air CEO Tony Douglas. This makes Riyadh Air the first Saudi airline to operate the A350-1000, a long-range aircraft known for its advanced technology, fuel efficiency, and passenger comfort. The purchase supports Saudi Arabia's Vision 2030 plan, which aims to increase air traffic to 300 million passengers annually and position the Kingdom as a global hub for aviation and tourism. Adam Boukadida, CFO of Riyadh Air, called the order 'a significant step' in building a world-class airline. He said the A350-1000 will help the airline meet sustainability targets and provide passengers with a premium travel experience. Airbus executive Benoît de Saint-Exupéry said the aircraft will help Riyadh Air achieve its growth ambitions. 'The A350-1000 is the perfect aircraft for expanding long-haul routes while meeting efficiency and comfort expectations,' he added. The A350-1000 is one of the most modern wide-body aircraft in the world, offering the longest range of any commercial airliner currently in production. It is also designed to fly with up to 50% Sustainable Aviation Fuel (SAF), with Airbus aiming to make all its aircraft fully SAF-compatible by 2030. As of May 2025, more than 1,390 A350 aircraft have been ordered by over 60 airlines globally, with 657 already in operation on routes of varying distances.
