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6 February 2010

Singapore: $10b in deals closed at airshow

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Asia's largest aviation exhibition, the Singapore Airshow, has raked in some $10 billion in deals when the trade show ended on Friday, Channel News Asia reported.

Although it is some $3 billion less than the previous show two years ago, organisers said it is encouraging and are expecting a few more deals later on. In fact, the amount exceeded their conservative figure of $5 billion which took into account the weak aviation industry last year.

About 70 percent of the $10 billion trade figure came from the commercial side of the event. Most of the bigger deals were maintenance-related. On the defence side, the biggest order takes up almost one-tenth of the total trade figure.

Jimmy Lau, managing director, Singapore Airshow & Events, said: "The biggest defence contract signed at the Singapore Airshow belongs to the Indian Air Force. They have signed a missiles deal worth over $860 million."

However, some analysts are saying the $10 billion trade figure at the Singapore Airshow is rather disappointing because just a few months ago at the Dubai Airshow, that figure was $18 billion and even that was considered dismal by the industry. And by 2012, experts said the aviation landscape is set to change vastly.


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