India fervour sweeps Asia's biggest air show
The largest deal at $2.2 billion was signed by Air India with General Electric for engines to power its 50 new Boeing aircraft.Updated: Feb 23, 2006 09:53 IST
India fervour is sweeping Asia's biggest air show in Singapore with four airlines from the subcontinent sealing deals worth $4.6 billion.
The value of the contracts has outstripped the record $3.6 billion made during Asian Aerospace in 2004.
The largest deal at $2.2 billion was signed by Air India with US engine manufacturer General Electric for engines to power its 50 new Boeing 777 and 787 aircraft.
New Delhi-based low-cost carrier Spicejet, Mumbai-based budget carrier GoAir and the airline Indian, placed orders for engines and aircraft worth more than $2.4 billion in total.
Rival manufacturers Boeing and Airbus have kept up unrelenting rhetoric over their hopes of winning orders from the Indian market with an average growth rate of between 25 to 30 per cent in recent years.
Other heavyweights have followed. Lockheed Martin, the largest US defence contractor, expressed optimism about winning orders from the Indian Air Force.
In other deals, US-based Honeywell struck an agreement with Airbus for power units that could generate up to $4 billion for its business.
Kicking off on Tuesday, the world's third largest air show following Paris and Farnsborough winds up on Sunday.
The 13th and last Asian Aerospace to be held in Singapore before moving to Hong Kong has more than 930 exhibitors from 43 countries attracting an estimated 27,000 trade representatives.
Singapore plans to organise its own international air show from 2008.
First Published: Feb 23, 2006 09:53 IST