During his visit to the show, the Prime Minister announced a £1.1bn investment in capabilities for the armed forces and set out the action plan taken by the Defence Growth Partnership of industry and government, as part of the long-term economic plan to boost the UK defence sector.

Monday deals

The first day of FIA 2014 saw a flood of orders and commitments for new commercial aircraft and engines and also the launch of the Airbus A330-800neo (pictured) and the A330-900neo as well as the launch of the Trent 7000 which will be the exclusive engine on the A330neo.

The launch of the new aircraft was followed by an announcement that Air Lease Corporation had signed a Memorandum of Understanding for 25 A330-900neo aircraft, becoming the first launch customer for this new widebody. Air Lease Corp also announced a firm order for 60 A321neo aircraft.

By the first afternoon there were firm orders and commitments for 326 large commercial jets and regional aircraft with a combined value of US$33.3bn. In addition there were orders and commitments for a total of 674 jet engines with a combined value of $8.6bn.

Avolon, the international aircraft lessor, and Boeing confirmed Avolon’s commitment to purchase six 787-9 Dreamliners. Avolon also reconfirmed its order for five 737 MAX 9 aircraft, bringing Avolon’s total order commitment for 737 MAX aircraft to 20. These commitments, once implemented, will bring Avolon’s owned, managed and committed fleet to 207 aircraft.

dreamliner

Boeing 787-9 Dreamliner

The commitment to purchase six Boeing 787-9 Dreamliners is Avolon’s first direct order for widebody aircraft from Boeing and is valued at US$1.5bn at current list prices.

Tuesday deals

On the second day of FIA 2014 leasing trade really speeded up, CIT Aerospace signed memorandums of understanding with Airbus for 15 A330-900neo (new engine option) aircraft and five A321-200ceo (current engine option) aircraft. Deliveries of the A330-900neo are scheduled to begin in 2018 and deliveries of the A321-200ceo are scheduled to begin in 2015.

Jeff Knittel, president of CIT Transportation & International Finance said: “As one of the largest aircraft lessors in the world, we are pleased to be able to once again partner with Airbus on the newest variant of the A330, as well as their A320 program.”

“These new aircraft will allow CIT to maintain one of the youngest and most technologically advanced fleets in the industry, while providing fuel efficient aircraft solutions to our customers though a range of sizes and categories of aircraft.”

The A330-800neo and the A330-900neo are two new members of the Airbus Widebody Family launched in July 2014 with first deliveries scheduled to start in Q4 2017.

The A330neo incorporates latest generation Rolls-Royce Trent 7000 engines, aerodynamic enhancements and new cabin features. Benefitting from the unbeatable economics, versatility and high reliability of the A330, the A330neo reduces fuel consumption by 14% per seat, making it the most cost efficient, medium range Widebody aircraft on the market.   As of March 31, 2014, CIT had 166 Airbus aircraft on operating lease and another 77 Airbus aircraft on order yet to deliver, including eight A330 aircraft, in addition to  this day’s commitment.

Also today, SMBC Aviation Capital, the Japanese aircraft leasing company, signed an order for 115 single-aisle A320 Airbus planes costing $11.7bn (€8.6bn) at list prices.

"This new order is the industry's largest ever single firm order by a worldwide leasing company for single-aisle aircraft," SMBC said in an announcement made at the Farnborough airshow.

Not to be outdone, Avolon and Airbus announced Avolon’s commitment to buy 15 Airbus A330neo aircraft. This order represents the launch of the newly re-engined A330. This commitment brings Avolon’s owned, managed and committed fleet to a new total of 222 aircraft.

The 15 Airbus A330neo aircraft are valued at US$4.1bn at current list prices.