by admin | May 25, 2021 | Corporate, Corporate Buzz, World
San Francisco : US top aircraft manufacturer Boeing Co. (Boeing) on Tuesday called as “a landmark decision” a ruling by the World Trade Organization (WTO) determining that the European Union (EU) has provided billions of US dollars in subsidies to European aircraft maker Airbus.
Boeing said the WTO has found that the EU has failed to honour multiple previous rulings and provided more than “$22 billion of illegal subsidies” to its business archrival Airbus.
“After examining this case for more than a decade, the WTO has determined the EU must end its unfair business practices and remedy the ongoing harm caused by the illegal subsidies,” Xinhua quoted Boeing as saying.
The latest WTO ruling on the decade-old case, which was initiated in 2006, ends the dispute and clears the way for the United States Trade Representative (USTR) to seek remedies in the form of tariffs against European exports to the US, Boeing said.
The US has accused European governments of providing favourable loans to Airbus for its A380 superjumbo and the A350 long-range jet that compete with Boeing’s 747 jumbo jet and 787 Dreamliner, respectively.
The US can now take steps to establish the level of sanctions it can impose on European exports under WTO rules.
Boeing said the US is expected to levy billions of retaliatory tariffs on the European exports, possibly the largest ever, which could come as early as 2019.
“Today’s final ruling sends a clear message: disregard for the rules and illegal subsidies is not tolerated. The commercial success of products and services should be driven by their merits and not by market-distorting actions,” said Dennis Muilenburg, Boeing Chairman, President and CEO.
—IANS
by admin | May 25, 2021 | Business, Corporate, Corporate Buzz, Large Enterprise, News, Politics
Hyderabad : India will require 1,750 new passenger and cargo aircraft over the next 20 years to meet an exponential rise in both passenger and freight traffic, according to Airbus latest India Market Forecast.
To help meet this growth, India will need 1,320 new single-aisle aircraft and 430 wide-body aircraft valued at $255 billion, a statement said here on Friday.
“Make in India is at the heart of our strategy. Airbus has the largest footprint in India of any International aircraft manufacturer, nationwide across all aircraft programmes. Our sourcing volume has grown 16 times over the past 10 years and it is currently at more than $550 million annually,” said Srinivasan Dwarakanath, President Airbus Commercial Aircraft in India.
India is set to become the world’s third largest aviation market by 2019-20 and Airbus is well positioned to partner its growth with backlog orders of over 530 aircraft to date, the statement said.
It said while much of the air traffic growth was expected to be driven by the fast expanding economy, rising wealth and urbanization, ambitious government-backed regional connectivity programmes were also set to enhance demand for air travel.
Domestic Indian traffic was expected to grow five-and-a-half times over the next 20 years (2017-36), reaching the same level as the US domestic traffic now, making it one of the world’s fastest growing markets, according to Airbus’ India Market Forecast.
—IANS
by admin | May 25, 2021 | Corporate, Corporate Buzz
Hyderabad : (IANS) With Indian aviation market registering healthy growth in 2015 and expected to become world’s leading emerging market over next 20 years, Airbus has upgraded aircraft sale forecast for India by 300 aircraft.
According to Airbus’ latest global market forecast for 2015-2034, India will require over 1,600 new passenger and freighter aircraft to help meet growth in demand. Valued at $224 billion, these will include 1,230 new single aisle aircraft and 390 wide body passenger and freighter aircraft.
According to the leading aircraft maker, traffic serving the Indian market is set to grow at 8.4 percent per year over the next 20 years, well above the world average of 4.6 percent. Domestic Indian traffic will grow more quickly at 9.3 percent – making India the world’s leading emerging aviation market.
Bullish over the growth in the Indian market, Airbus received 250 new orders during 2015.
The company officials, however, clarified that this does not include orders from now defunct Kingfisher Airlines.
The orders received last year include orders for 250 A320neo by IndiGo, which it termed as the world’s largest civil aviation order. The other orders include 72 A320neo by Go Air.
Joost Van der Heijden, vice president, marketing, Asia, Airbus told reporters on Thursday at India Aviation 2016 here that on an average one Airbus aircraft will be delivered per week in India over the next 10 years.
He said 56 percent of India’s in service fleet are Airbus aircraft operated by most leading Indian carriers.
Air traffic growth is driven by factors such as urbanisation, the growing middle classes, tourism and trade. India’s population is set to surpass China’s by 2025, and according to Oxford Economics, the number of Indian middle classes will top 600 million people, more than double that of the United States. By 2034, Indian passengers on average will each make four times as many flights as they do today, the company said.
By 2035, the number of Indian cities with over one million monthly air passengers will more than triple.
Srinivasan Dwarkanath, president, Airbus Division in India, said make in India is at the heart of Airbus’ strategy in India. Its engineering facility in Bengaluru, set up in 2007, has more than 400 engineers and the company is supporting 6,000 jobs in the country.
“Every Airbus aircraft from our assembly line is partly made in India,” he said. The cumulative procurement from India reached $500 million last year and it is expected to reach $2 billion by 2020.
Replying to a query, he said Airbus was committed to look for a partner to set up MRO facility in India.
by admin | May 25, 2021 | Corporate, Corporate Governance
New Delhi:(IANS) Budget airline IndiGo on Monday said that it has finalised a pact with global aerospace major Airbus for the purchase of 250 A320neo aircraft. The deal is expected to be worth a little over $25 billion.
“We have firmed up the order for the 250 A320neo by entering into the purchase agreement. This follows the Memorandum of Understanding (MoU) which we had entered with Airbus earlier,” IndiGo president Aditya Ghosh told IANS.
According to Ghosh, the order reaffirms the airline’s commitment to the long-term development of affordable air transportation in India and overseas.
“India is one of the largest markets in the world, however it has one of the lowest aircraft penetration. We foresee a robust demand in India and by placing this order, we are clearly charting out our growth strategy for the coming years,” Ghosh added.
The purchase agreement was signed on the 69th Independence Day on the August 15, 2015.
IndiGo which is the largest individual airline in India in terms of domestic market share had placed an order for 100 A320s in 2005 and 180 A320neo in 2011. With Mondays announcement, IndiGo has placed a total order of 530 A320 family aircraft.
It fills us with pride that IndiGo, Indias largest airline and one of the early launch customers for the A320neo, is coming back for more of our benchmark aircraft, John Leahy, chief operating officer customers of Airbus, said in a statement.
The Neo has many innovations, including latest generation engines and large Sharklet wing-tip devices to deliver 15 percent in fuel savings, the statement said. This is equivalent to a reduction of 5,000 tonnes of CO2 per aircraft per year.
Currently, the airline operates 97 A320 aircraft. As of April 30, 2015, the airline offered 593 daily flights connecting 33 airports in India.
IndiGo also operates to five destinations — Bangkok, Dubai, Kathmandu, Muscat and Singapore.
The airline had a market share of 33.8 percent of domestic passenger volume for fiscal 2015.
The A320 family is said to be the worlds best-selling single-aisle aircraft with over 11,800 orders to date and more than 6,600 aircraft delivered so far to 400 customers and operators worldwide.
