Business

Boeing signs $1.3 billion of deals at Singapore Airshow

Boeing said yesterday its global services unit has signed deals worth nearly US$1 billion (S$1.3 billion) at the Singapore Airshow in areas such as parts, maintenance, modification and training.

The deals underscore the growing importance of the commercial aviation market in the Asia-Pacific region.

Among the deals is an agreement with Malaysia Airlines to receive overhauled landing gear from an exchange pool maintained by the US aviation giant.

Singapore Airlines signed a contract to use electronic logbooks on its Boeing 777 and 787 airliners.

Boeing did not give individual values for the deals but said they totalled more than US$900 million.

Its European rival Airbus said yesterday that air traffic will triple in the Asia-Pacific region over the next 20 years, making it the world's biggest aviation market.

The region will require 14,450 new aircraft during that period, worth a combined US$2.3 trillion.

This accounts for more than 40 per cent of global demand, Airbus said.Analysts said they do not expect major plane orders at this year's show. - AFP

BUSINESS & FINANCE