Singapore Airshow announces $12 bn in airplane dealsFebruary 19, 2016 - 13:40 AMT PanARMENIAN.Net - Organizers of the Singapore Airshow said $12.3 billion in airplane deals were signed at the event this week, a sharp drop from the last show in 2014, the Associated Press reports. Leck Chet Lam, managing director of Experia Events, said Friday, February 19 that this year's figure was comprised of 10 deals, with another 40 made at undisclosed values. There were 24 undisclosed deals in 2014. The 2014 show generated $32 billion of sales. Organizers released this year's total which covers commercial, private and defense deals after the three-day trade period ended Friday. Modest airplane orders for Boeing and Airbus announced earlier in the week hinted at a lull in demand, as overflowing order books at the manufacturers and a fall in oil prices spurred airlines to keep their older less fuel-efficient planes for longer. "Many Asian airlines placed large orders between 2011 and 2014, and now have a long pipeline of aircraft deliveries to absorb over the next four years," said Rajiv Biswas, Asia-Pacific Chief Economist at IHS Global Insight. "Future new orders are expected to come in smaller sizes (over the next two years), with most new Asia-Pacific airline orders likely to come in sizes of dozens of aircraft rather than the mammoth orders seen during the 2012 and 2014 Singapore Airshows." Passenger numbers in Asia are expected by Airbus to grow by 5.6 percent annually, with China forecast to post double digit growth. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. |