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Indiaexportnews.com

All major players turn up at Farnborough Air Show despite Brexit vote

  15.07.2016    

All the major players in the international aerospace business have gathered for the Farnborough Air Show outside London, despite the surprising Brexit vote to have the UK leave the European Union, according to Shipping Gazette.
One of the major issues to be raised during the week-long air show will be Britain's post-Brexit economy drooping and signs of overcapacity in the airline world and there'll be much worried discussion of prospects ahead for the industry.
Even before the Brexit vote there's been increasing anxiety about the world economy and that the industry could be headed for a cyclical downturn.
Emerging markets that once looked strong are faltering. Troubled Latin American airlines have been deferring orders and even the big Gulf airlines seem to have eased off on their breakneck growth as their home region struggles with the fall in the price of oil.
The International Air Transport Association, representing the world's airlines, has already projected that the Brexit vote may reduce UK air traffic by up to five per cent by 2020. Low-cost airlines easyJet and Ryanair - the latter a top Boeing customer - rely on carrying low-budget travellers to European destinations from the UK and could see that traffic fall with the decline of the British pound.
Of course, the reverse is true with more people coming to the UK for the low prices the low pound offers.
Other issues to be raised at the air show will include the enormous backlogs of orders racked up by Airbus and Boeing in recent years and the expectation that many fewer jet sales will take place compared to past air shows, the Seattle Times reported.
The Boeing's 737 MAX, now in flight test with first delivery expected next year, will make its debut. The American aircraft manufacturer will talk up its proposal for a new mid-market aircraft and it's also likely to announce design changes to the smallest of its new aircraft, the MAX 7.
Not many single-aisle jet orders are expected, but there may be some widebody sales, including a boost for the 747. Boeing really needs new sales of its 787 and 777 models.
Airbus will address its A320neo and A350 production issues this year, and try to reassure that it's solving the problems and can catch up on delayed deliveries.
Another attraction at the show will be Canadian planemaker Bombardier flying its new CSeries jet.
As aerospace analyst Richard Aboulafia of the Teal Group notes, it's "the first all-new player in this market in many, many decades".



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