Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Airbus gets dollars 180m of new orders

Mary Fagan
Monday 07 September 1992 18:02 EDT
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

AIRBUS, the European civil aircraft consortium that includes British Aerospace, has won new orders worth up to dollars 180m ( pounds 90m), writes Mary Fagan. Shorouk Air, a joint venture between Egyptair and Kuwait Airways, has signed contracts for two A320 airliners and options for two more.

Although no value was put on the deal, a single Airbus costs around dollars 45m. Airbus said that firm orders for the A320 stand at 703 from 37 customers worldwide.

The orders came as Airbus's rival, McDonnell Douglas of the US, said that it was looking for partners in the civil aircraft business in the face of increasingly tough competition within the industry.

Speaking at the Farnborough Air Show, John Capellupo, McDonnell Douglas's vice- president, said alliances were crucial if its aircraft manufacturing arm was to survive.

He also predicted further heavy job-shedding throughout the aerospace industry as firms struggled to cut costs.

Airbus has toppled McDonnell Douglas from the number two slot in the civil aircraft business after Boeing, another US giant. Mr Capellupo said he could reverse the change with the right partners.

Talks with several companies, including Taiwan Aerospace, were taking place. The US company would retain the main stake in any significant alliance, he said.

Mr Capellupo declined to comment on how talks were progressing with third parties concerning the future of McDonnell Douglas's helicopter manufacturing division. He said investment bankers were working on it.

Meanwhile, Farnborough provided a platform for order announcements from GEC. GEC Avionics has secured a contract worth more than pounds 40m to supply submarine tracking equipment for the Royal Navy's new Merlin helicopter.

GEC-Plessey, based in Portsmouth, has won an order worth up to pounds 10m with Elmer of Italy to supply navigational technology for the European Fighter Aircraft.

GEC also said that it was seeking to acquire more missile and target-sensor firms. The company bought Ferranti's missiles business last year.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in