Article Posted on : - Jul 26, 2010

Farnborough Air Show. A file photo.

HAMPSHIRE (BNS): A total of USD 47 billion worth of business has been agreed this week at the Farnborough International Air Show 2010, which came to a close on Sunday.

According to a news report by The Economic Times, about 1,450 exhibiting companies and organisations from more than 50 countries, including India and some 60 Russian firms, have taken part in the world's largest air show.

Ian Godden, chairman of Britain's Aerospace, Defence and Security trade organisation, said that the amount of business being done at Farnborough is "very encouraging" given the current global climate.

"To see over $47 billion worth of business done and the quality of the business transactions at the show is a testament to the endurance of our sectors, their positive contribution to UK and world trade as well as the significance of the show itself," Ian Godden was quoted as saying in the news report.

The business at the show included $28 billion of orders for Airbus. Virgin America placed one of the largest orders with Airbus, for 40 A320s, worth $3.3 billion.

Boeing's 787 was a big hit. The company also signed an agreement with Azerbaijan Airlines to substitute two Next-Generation 737 airplanes for one 767-300ER and two 767 freighters.

Russian firms clinched defence agreements worth more than 10 billion dollars. Russian manufacturer Irkut, received an order for 50 of its MS-21s from Malaysian investment firm Crecom Burj Resources. Sukhoi Civil Aircraft bagged deals on as many as 161 Sukhoi Superjet 100.

India also made a lasting impression at this grand international event. Foreign firms are currently eyeing the country for defence and aviation deals.

India is currently in the midst of ongoing deals with Boeing for C-17 military transport planes and Dreamline 787 passenger craft, and with BAE Systems for Hawk fighter aircraft.