The Singapore Airshow saw more than US$13.4 billion in sales of aircraft and related equipment this week, thanks to a booming aviation market, organizers have said.
Another US$2.6 billion was generated from contracts for facilities and other services, they said in a statement issued late on Friday, at the inaugural event.
The small but wealthy city-state decided to host its own airshow after organizers of the Asian Aerospace fair moved the event to Hong Kong.
PHOTO: AFP
The biggest deal that was announced at the airshow was an order for 56 Boeing 737-900ER aircraft worth more than US$4.4 billion by Indonesian low-cost carrier Lion Air.
Indonesian flag-carrier Garuda ordered four Boeing 777-300ERs worth US$1 billion and business jet operator BJets signed a US$600 million contract for 40 Cessna and Hawker jets.
US-based Boeing's European rival said it had secured orders for five A330-200F cargo planes from BOC Aviation, an aircraft leasing firm fully owned by Bank of China (
The deal is worth a total of US$877 million at catalog prices.
"The new deals announced at the airshow demonstrate once again that Asia is the world's fastest-growing aerospace market," said Jimmy Lau, managing director of the event's organizers.
He said 70 percent of the exhibitors have already confirmed bookings for the biennial event in 2010 being held at a new seaside location near Changi Airport.
Lau promised "an even bigger and better" show in 2010, saying this year's event already had 40 percent more exhibition area than Asian Aerospace which was last held in Singapore in 2006 and saw US$15.2 billion in deals.
More than 30,000 accredited industry professionals visited the airshow and numbers were expected to grow as opened to the public at the weekend.
Organizers have dubbed the Singapore Airshow as Asia's biggest aerospace event because it has civilian and defense components, while Asian Aerospace has focused on commercial aviation after its shift to Hong Kong.
More than 800 exhibitors from 42 countries, including US defense firms Lockheed Martin and Northrop Grumman, took part in the airshow that featured the latest warplanes, unmanned aerial vehicles and executive business jets.
"Asia is a vital market for us and it has been our constant endeavor to establish and strengthen our ties with this dynamic region," said Bernard Buisson, Singapore managing director for EADS, which owns Airbus.
HORMUZ ISSUE: The US president said he expected crude prices to drop at the end of the war, which he called a ‘minor excursion’ that could continue ‘for a little while’ The United Arab Emirates (UAE) and Kuwait started reducing oil production, as the near-closure of the crucial Strait of Hormuz ripples through energy markets and affects global supply. Abu Dhabi National Oil Co (ADNOC) is “managing offshore production levels to address storage requirements,” the company said in a statement, without giving details. Kuwait Petroleum Corp said it was lowering production at its oil fields and refineries after “Iranian threats against safe passage of ships through the Strait of Hormuz.” The war in the Middle East has all but closed Hormuz, the narrow waterway linking the Persian Gulf to the open seas,
Apple Inc increased iPhone production in India by about 53 percent last year and now makes a quarter of its marquee devices there, reflecting the US company’s efforts to avoid tariffs on China. The company assembled about 55 million iPhones in India last year, up from 36 million a year earlier, people familiar with the matter said, asking not to be named because the numbers aren’t public. Apple makes about 220 million to 230 million iPhones a year globally, with India’s share of the total increasing rapidly. Apple has accelerated its expansion in the world’s most populous country in recent years, bolstered
HEADWINDS: The company said it expects its computer business, as well as consumer electronics and communications segments to see revenue declines due to seasonality Pegatron Corp (和碩) yesterday said it aims to grow its artificial intelligence (AI) server revenue more than 10-fold this year from last year, driven by orders from neocloud solutions clients and large cloud service providers. The electronics manufacturing service provider said AI server revenue growth would be driven primarily by the Nvidia Corp GB300 server platform. Server shipments are expected to increase each quarter this year, with the second half likely to outperform the first half, it said. The AI server market is expected to broaden this year as more inference applications emerge, which would drive demand for system-on-chip, application-specific integrated circuits
PROJECTION: TSMC said it expects strong growth this year, with revenue in US dollars projected to grow by about 30 percent, outperforming the industry Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported consolidated sales last month reached NT$317.66 billion (US$9.98 billion), the highest ever for the month of February, driven by robust demand for chips built using the company’s advanced 3-nanometer (3nm) process. Last month’s figure was up 22.2 percent from a year earlier, but fell 20.8 percent from January, the world’s largest contract chipmaker said in a statement. For the first two months of the year, TSMC posted cumulative sales of NT$718.91 billion, up 29.9 percent from a year earlier. Analysts attributed the growth to sustained global demand for artificial intelligence (AI) products
RSS