ISTAT Jetrader - Autumn 2019 - 19

commitments (firm orders + LoIs + options) were announced, compared to 1,464
during the Farnborough International Airshow last year and 1,226 during the Paris
Air Show in 2017. The 861 commitments includes only 115 firm orders, but the
number neither takes into account 26 older but previously undisclosed orders, nor
349 type swaps or conversions announced at the show. Many of these were in favor
of the XLR.
It seemed that the A321-200XLR made the most impression on the global
airlines and lessors. American Airlines, Air Lease, Qantas, Indigo/Wizz Air/Frontier/
JetSmart, Aer Lingus, Iberia, Saudia, Flynas and Middle East Airlines were among
the customers committing to the new neo version. Enough has been said about the
"surprise order" by IAG for 200 Boeing 737 Max 8 and 10 aircraft for Vueling and
Level. Given the potential response by the popular press in the United Kingdom to
such an order, a "brave" move. Air Lease, JetBlue and Nordic Aviation Capital placed
orders for the Airbus A220, while the latter also committed to 105 ATR turboprops.
The softness in the twin aisle market resulted in a limited orders. Cebu and Virgin
Atlantic committed to A330-900s, Air Lease to 787-9s and Korean Air to 787-9 and
-10s. China Airlines and Turkmenistan ordered Boeing 777-200 Freighters and a
single -200LR, respectively. Embraer popped the champagne with orders from KLM
for the E195-E2 and United for the E175. The SpaceJet attracted an unannounced
customer for 15 M100s. Various other commitments included ATRs, A320neos, Twin
Otters and the Q400.
With the International Monetary Fund recently adjusting its outlook for 2019
GDP growth from 4.7% to 3.4% and IATA reducing its global airline profit forecast
from US$35.5 to US$28 billion, the significantly lower number of new aircraft

orders placed in Paris could be seen
as another confirmation that, while
the industry is not (yet) facing a
downturn, growth is clearly slowing
down. With trade volumes and
the oil price as important factors
determining global airline profitability,
the sabre rattling in the Middle
East as well as the U.S.-China
trade negotiations will have to be
watched carefully during the coming
weeks and months. The number of
commercial jet order cancellations
exceeded the new order volume prior
to the Paris Air Show, suggesting
our industry isn't immune to the
macroeconomic weakness. On the
positive side, during the past decade,
airlines globally have been able to
maintain overall profitability despite
many challenges. Let's see what
2020 will bring when the industry
will gather again for a post-Brexit (?)
Farnborough Airshow.

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Jetrader

* A U T U M N 2 0 19 * 1 9
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ISTAT Jetrader - Autumn 2019

Table of Contents for the Digital Edition of ISTAT Jetrader - Autumn 2019
