Plane makers Boeing and Airbus racked up dozens of new jet orders on the second day of the Farnborough International Airshow on Tuesday, as aviation executives sweltered in record temperatures in Britain.
The number of new aircraft orders reached more than 140 as Airbus and Boeing won deals for short-and-medium haul jets from airlines and lessors.
Boeing began the day strongly with a firm order from Miami-based private investment firm 777 Partners for 30 of 737 Max jets. This could increase to 66 jets if options for additional aircraft are exercised.
This takes the US plane maker's order book up to 134 models in the 737 Max family.
The company plans to use the jets for the low-cost carriers in its portfolio, Canada's Flair Airlines and Australian start-up Bonza Airline that will launch operations this year.
"This new order marks another milestone in the robust growth of our aviation businesses and concurrently, our partnership with Boeing," Josh Wander, managing partner of 777 Partners, said.
"We are excited about the possibilities the Max aircraft provide our growing group of carriers to facilitate and democratise low-cost travel around the globe, while respecting our commitment to sustainable flying."
Boeing also secured an order from plane-leasing company AerCap Holdings for five of its 787-9s, taking the company's fleet of Dreamliners in its portfolio, or on order, to 125.
"This transaction is in line with our portfolio strategy of investing in the most in-demand new technology assets and will help us continue to support our airline customers meet their sustainability commitments," Peter Anderson, chief commercial officer of AerCap, said.
In many announcements during the day, the US plane maker also received an order from lessor Aviation Capital Group for 12 of its 737-8 jets. This expands ACG's 737 Max order book to 34 aircraft, building on an order for nine 737-8s in May.
"These additional 737 Max aircraft will help position ACG's order book for a recovery in air traffic coming out of the [Covid-19] pandemic," said Mahoko Hara, ACG's executive chairperson.
On the freighter side, lessor BBAM expanded its 737-800 Boeing Converted Freighter fleet with a firm order for nine more 737-800 converted freighters.
“We continue to extend the life of the 737-800s in our fleet and support strong demand from our customers by further growing our 737-800BCF order book,” John Lynch, senior vice president and head of freighter programmes at BBAM, said.
Delta Air Lines also firmed up an order for 12 Airbus A220-300 aircraft, bringing Delta’s total firm order for A220s to 107 jets.
“The A220-300 is economical, efficient and delivers superior performance,” Mahendra Nair, senior vice president of Fleet & TechOps Supply Chain at Delta, said.
Brazilian plane maker Embraer received a firm order from Alaska Air Group for eight new E175 and options for 13 more. The value of the contract, including options, is $1.12 billion based on list prices.
Canada’s Porter Airlines placed an order for 20 of Embraer's E195-E2 passenger jets, adding to the carrier's existing 30 firm orders.
The scorching weather in Britain underscored the aviation industry's focus on greener operations.
Toulouse-based Airbus and more than half a dozen major airlines on Monday signed an initial pact to discuss buying carbon removal credits to offset the emissions from air travel.
Air Canada, Air France-KLM, easyJet, International Airlines Group, LATAM Airlines Group, Lufthansa Group and Virgin Atlantic signed the letter of intent with Airbus to "engage in negotiations on the possible pre-purchase of verified and durable carbon removal credits starting in 2025 through to 2028".
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ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
More from Rashmee Roshan Lall
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Four tips to secure IoT networks
Mohammed Abukhater, vice president at FireEye in the Middle East, said:
- Keep device software up-to-date. Most come with basic operating system, so users should ensure that they always have the latest version
- Besides a strong password, use two-step authentication. There should be a second log-in step like adding a code sent to your mobile number
- Usually smart devices come with many unnecessary features. Users should lock those features that are not required or used frequently
- Always create a different guest network for visitors
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
The biog
Simon Nadim has completed 7,000 dives.
The hardest dive in the UAE is the German U-boat 110m down off the Fujairah coast.
As a child, he loved the documentaries of Jacques Cousteau
He also led a team that discovered the long-lost portion of the Ines oil tanker.
If you are interested in diving, he runs the XR Hub Dive Centre in Fujairah
Killing of Qassem Suleimani
more from Janine di Giovanni
Other ways to buy used products in the UAE
UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.
Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.
Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.
For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.
Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.
At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.
Global state-owned investor ranking by size
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
Killing of Qassem Suleimani
More from Neighbourhood Watch:
Panipat
Director Ashutosh Gowariker
Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment
Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman
Rating 3 /5 stars
More from our neighbourhood series:
'Skin'
Dir: Guy Nattiv
Starring: Jamie Bell, Danielle McDonald, Bill Camp, Vera Farmiga
Rating: 3.5/5 stars
Five films to watch
Castle in the Sky (1986)
Grave of the Fireflies (1988)
Only Yesterday (1991)
Pom Poki (1994)
The Tale of Princess Kaguya (2013)
