PARIS: Global planemakers could reap 900 orders and commitments at next week’s Farnborough Airshow, down only slightly from last year’s comparable event, as strong oil prices prompt airlines to add to their bulging order books, aviation consultancy IBA Group said. Several industry analysts are predicting a quieter summer air show this year as the industry digests a record order backlog of more than 15,000 aircraft, spread across all types. But higher oil prices could prompt several airlines and lessors to top up orders for fuel-efficient narrow-body models using the cash from industry restructuring, said IBA, one of a handful of companies which also carry out aircraft valuations.
“Airlines have historically placed orders when times are good and cash is strong, much like today,” Stuart Hatcher, Chief Operating Officer of UK-based IBA Group, said in a report. It is the first detailed order forecast ahead of the July 16-22 event, held every other year in alternation with Paris. On average, the summer jamborees account for 30 per cent of annual commercial business, according to IBA. At the 2017 Paris show, planemakers bagged around 900 firm or provisional orders. Airlines are benefiting from rising traffic and higher passenger load factors, meaning more people are on average travelling in more crowded planes. — AFP
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