Farnborough Airshow: DHL signs deal for 14 Boeing 777 jets

Boeing shares news US airplane maker secures $4.7 billion DHL order

Qatar Airways finalized an order for five 777 Freighters that was announced as a commitment in April.

A logo of Qatar Airways is seen at Hamad International Airport in Doha, Qatar June 12, 2017.

Billions of dollars are at stake as the world's largest aircraft manufacturers, Boeing Co and Airbus SE, duel over orders this week at the Farnborough Air Show in Hampshire, UK - the biggest event of its kind this year.

Even before the first displays had taken to the skies over a sun-baked southern England, Boeing said delivery firm DHL, part of Deutsche Post DHL Group, had placed a US$4.7 billion order for 14 777 freighters, and purchase rights for seven additional freighters.

"We are set for a busy and exciting week at Farnborough as the global aerospace, defence and space industries are here to do business, build new partnerships and discuss the ideas and technologies for the future of flight".

This year's sector showpiece event, opening Monday, will be buzzing on the back of rapid changes in the industry, as USA titan Boeing and European arch rival Airbus vie for superiority in the skies.

Rising oil prices and interest rates, trade tensions and uncertainty over Britain's departure from the European Union all pose a risk to an eight-year boom in civil aviation, which has boosted industry order books and share prices. It alternates with the Paris Airshow and collectively they account for over a quarter of industry order intake each year.

This go-around, Farnborough will take place in a world much more uncertain than before.

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Opening the event south west of London, British Prime Minister Theresa May sought to reassure aviation bosses that her under-fire Brexit plan won't disrupt their supply chains.

Businesses have been getting increasingly frustrated about the lack of clarity over future trading relations less than nine months before Brexit day on March 29, 2019.

Airbus announced firm orders for 75 new commercial jets and options, memoranda of understanding or letters of intent for another 111 aircraft.

Airbus is in talks for deals with multiple Asian airlines.

He announced 2 billion pounds (US$2.7 billion) of funding for the project to 2025 and said he was looking for other countries to join, with a senior Royal Air Force official saying Sweden was the most likely partner.

Airbus stands to pull in deals for its A320neo and A350 fleet, while investors are waiting for an update from Boeing on a new aircraft that would slot in between its 737 narrow-body and 787 wide-body jets.

She also announced that a new Aerospace Sector Deal will be created to further support the UK's status as a world leader in aerospace, and announced the launch of the Combat Air Strategy.

The two giants will add to record orders for benchmark narrowbody jets, whose waiting lists underpin their near-record share prices, while seeking a recovery in sales of bigger jets. "I think this is behind us now".

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