Shares in aerospace giant Airbus (EADSY 3.08%) rose by as much as 3.1% in early trading as the Paris Air Show concluded for industry professionals (it remains open to the public until Sunday). Airbus had a lot to say and $21 billion in orders to announce , but unfortunately, its great rival, Boeing (BA 0.38%), had very little to say.
Airbus and Boeing at the Paris Air Show
While Boeing didn't release an official statement on the matter, it's widely reported that Boeing scaled down its participation and elected not to announce new orders following a recent Air India crash involving a Boeing 787 Dreamliner. Boeing had previously announced it would offer full support for the investigation currently taking place.
Consequently, Airbus took center stage in the commercial aerospace industry, announcing $14.2 billion in firm orders and a further $6.7 billion under memoranda of understanding (MoUs).
Among the 148 firm orders was the first-ever order from LOT Polish Airlines for 40 A220 aircraft. All Nippon Airways, a subsidiary, ordered 27 A321 airplanes. Riyadh Air of Saudi Arabia ordered 25 A350 wide-bodies and will be the first Saudi airline to fly the 350. Vietnam's VietJet signed an MoU for 100 Airbus A321neo aircraft.
Image source: Getty Images.
Where next for Airbus?
The strength in A350 (which competes with the Boeing 787) and A321 orders (a highly successful plane Boeing is struggling to compete with) is a continuation of an order trend this year. Meanwhile, the 40 A220 orders are a shot in the arm for an aircraft that Airbus has found it difficult to sign deals on in the last year or so.
Overall, it was a positive air show for Airbus, and that's reflected in the stock price today.
