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Paris Air Show weathers storm
(CNN) -- The question on everyone's lips is whether the 45th Paris Air Show has been a success or whether it has been too embroiled in politics and economic strife. The organizers will cite the bout of airline orders announced at Le Bourget as being the best news to come out of the commercial aviation industry since September 11, 2001. And that Korean Air, Emirates and Qatar Airways opened up their wallets despite the fact the commercial aviation industry is facing its greatest slump since World War II. It appears this year's biennial show has also weathered the political anxiety brought to bear on it by U.S military and commercial top brass, as well as the Pentagon. Some even say their absence may have been Europe's gain with military buyers homing in on the chalets of European Aeronautic Defense and Space Company (EADS) and Dassault. This show has also allowed Airbus to expand its lead this year over U.S.-based archrival Boeing in commercial airline sales. Although with Boeing's highly diversified portfolio in many areas of aerospace and with long-term business strategies it is likely to shrug off the comparison. The fact it has been a record-breaking week, for France-based Airbus SAS securing the future of the new A380 double-decker, superjumbo, may alone allow the organizers to congratulate themselves on a successful event. But above all, there is still no doubt from the activity and media output of Le Bourget that air shows such as Paris still bring the industry and its customers together. The fact that it is a hugely costly event for companies to participate, the sheer expense has to be justified. Commercial exhibitors and executives are therefore under pressure to make the most of their time in Paris and generate business, strategies and ideas -- but above all optimism. At the show Boeing released its 2003 market outlook forecasting a $5.2 trillion market for new commercial airplanes and aviation services over the next 20 years. But critics say many airlines are still in serious trouble. The Times of London reported Wednesday that the U.K. could see up to 15,000 job losses in the sector over the next three years as the downturn in demand for aircraft continued to bite. Jet tally to date
Korean Air, South Korea's largest airline, said on Wednesday it had signed a memorandum of understanding with Airbus SAS for eight A380 superjumbos worth $2.2 billion. Earlier this week, Emirates airline announced a $12.5 billion order for 41 Airbus planes, including 21 of the new double-decker A380 jets. They also agreed to lease more than two-dozen long range Boeing 777s. Qatar Airways and Malaysian Airways are also expected to announce plane orders or leases at the show. It is likely to again consist of Airbus planes. Currently in the Boeing-Airbus battle for commercial orders it is the France-based Airbus that has come out on top with a total of 197 jet orders so far this year compared with Boeing's 38.
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