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Yahoo
9 hours ago
- Business
- Yahoo
Air India crash casts a shadow over the Paris Air Show — the year's biggest aviation and defense event
Boeing's CEO pulled out of attending the Paris Air Show after last week's Air India crash. Israel's airstrikes against Iran further showed how geopolitical tensions will influence the gathering. Airbus could announce more plane orders after Boeing's blockbuster Qatar Airways deal in May. In Paris's upscale 16th arrondissement, with windows framing the Eiffel Tower, a media event hosted by Honeywell Aerospace on Sunday began with a sharing of sympathies for the victims of Air India Flight 171. Rising geopolitical tensions were already set to heighten anxieties at the 2025 Paris Air Show, but last week's events have cast a somber shadow. The terrible scenes of Thursday's plane crash, which killed all but one of the 242 people on board and dozens more on the ground, are on everyone's minds at the biennial industry gathering. Alternating each year with the Farnborough air show in the UK, it is typically a vibrant affair. Throughout the week, some 300,000 people will descend on Le Bourget Airport as aviation and defense companies announce orders and show off their aircraft. Both Boeing's CEO, Kelly Ortberg, and its commercial airplanes chief, Stephanie Pope, have now pulled out of attending the show, while a media drinks reception was canceled. Boeing declined to comment on the executives' withdrawal from the event. Meanwhile, GE Aerospace, which made the Air India 787's engines, postponed an investor day. This week was set to be a pivotal chance for Ortberg, who took over last August, to show how he is revitalising the planemaker after 2024's annus horribilis. Meanwhile, Israel's airstrikes against Iran complicated the geopolitical tensions amid President Donald Trump's trade war and the ongoing conflict in Ukraine. War may be good for defense companies' profits, but it is becoming increasingly clear that the post-World War II order of international cooperation and globalisation is being shaken up. That's particularly felt by an innately global industry like aviation, as it could hurt travel demand and disrupt complex supply chains. Europe's growing independence was a notable theme at the Honeywell Aerospace event. Some executives were keen to show they could speak French, and the company highlighted its facilities across the continent. "We recognize that nations here are increasingly seeking local solutions to economic and military autonomy," said CEO Jim Currier. Mike Vallillo, VP for international defense, said customers were looking to support existing programs from within their own borders, with greater control over supply chains. "Longer term, we expect the emphasis around sovereignty and greater independence to require a lot of investment in technology," he added. Honeywell Aerospace is a major player in the industry, but may go unnoticed by the casual flyer, creating vital parts like avionics and auxiliary power units. As Currier put it, having "a portfolio that touches nearly everything that flies." Despite an air of apprehension ahead of the show, Sunday's event also touched on points of optimism for commercial aviation. "Record backlogs at aircraft [original equipment manufacturers] reflect more demand than supply, as commercial travel has doubled every 15 to 20 years, amid a growing global middle class," Currier said. Boeing reported a blockbuster May with 303 orders, following a record deal with Qatar Airways during Trump's trip to the Middle East. Its European rival, Airbus, recorded an almost unheard-of zero orders last month, suggesting there will instead be plenty of announcements in Paris. Saudi Arabia's startup airline, Riyadh Air, announced a firm order for 25 A350-1000 on Monday, with an option for 50 more. Set to launch later this year and backed by the kingdom's Public Investment Fund, Riyadh Air is exhibiting two planes in Paris and has also teased reveals. "This order marks a significant step forward in building a world-class airline that reflects the ambitions of Vision 2030," said CFO Adam Boukadida in a reference to the kingdom's drive to diversity its oil-dependent economy. Vietnam's VietJet and Malaysian budget airline AirAsia are each set to order about 100 Airbus jets, Bloomberg and Reuters reported. A tangible show of its ambitions could raise the mood, but the 55th Paris Air Show is still set to be a muted affair. Read the original article on Business Insider
Business Insider
11 hours ago
- Business
- Business Insider
Air India crash casts a shadow over the Paris Air Show — the year's biggest aviation and defense event
In Paris's upscale 16th arrondissement, with windows framing the Eiffel Tower, a media event hosted by Honeywell Aerospace on Sunday began with a sharing of sympathies for the victims of Air India Flight 171. Rising geopolitical tensions were already set to heighten anxieties at the 2025 Paris Air Show, but last week's events have cast a somber shadow. The terrible scenes of Thursday's plane crash, which killed all but one of the 242 people on board and dozens more on the ground, are on everyone's minds at the biennial industry gathering. Alternating each year with the Farnborough air show in the UK, it is typically a vibrant affair. Throughout the week, some 300,000 people will descend on Le Bourget Airport as aviation and defense companies announce orders and show off their aircraft. Both Boeing's CEO, Kelly Ortberg, and its commercial airplanes chief, Stephanie Pope, have now pulled out of attending the show, while a media drinks reception was canceled. Boeing did not immediately respond to a request for comment. Meanwhile, GE Aerospace, which made the Air India 787's engines, postponed an investor day. This week was set to be a pivotal chance for Ortberg, who took over last August, to show how he is revitalising the planemaker after 2024's annus horribilis. Meanwhile, Israel's airstrikes against Iran complicated the geopolitical tensions amid President Donald Trump 's trade war and the ongoing conflict in Ukraine. War may be good for defense companies' profits, but it is becoming increasingly clear that the post-World War II order of international cooperation and globalisation is being shaken up. That's particularly felt by an innately global industry like aviation, as it could hurt travel demand and disrupt complex supply chains. Local solutions Europe's growing independence was a notable theme at the Honeywell Aerospace event. Some executives were keen to show they could speak French, and the company highlighted its facilities across the continent. "We recognize that nations here are increasingly seeking local solutions to economic and military autonomy," said CEO Jim Currier. Mike Vallillo, VP for international defense, said customers were looking to support existing programs from within their own borders, with greater control over supply chains. "Longer term, we expect the emphasis around sovereignty and greater independence to require a lot of investment in technology," he added. Points of optimism Honeywell Aerospace is a major player in the industry, but may go unnoticed by the casual flyer, creating vital parts like avionics and auxiliary power units. As Currier put it, having "a portfolio that touches nearly everything that flies." Despite an air of apprehension ahead of the show, Sunday's event also touched on points of optimism for commercial aviation. "Record backlogs at aircraft [original equipment manufacturers] reflect more demand than supply, as commercial travel has doubled every 15 to 20 years, amid a growing global middle class," Currier said. Boeing reported a blockbuster May with 303 orders, following a record deal with Qatar Airways during Trump's trip to the Middle East. Its European rival, Airbus, recorded an almost unheard-of zero orders last month, suggesting there will instead be plenty of announcements in Paris. Vietnam's VietJet and Malaysian budget airline AirAsia are each set to order about 100 Airbus jets, Bloomberg and Reuters reported. Saudi Arabia's startup airline Riyadh Air is also expected to sign a deal with Airbus. Set to launch later this year and backed by the kingdom's Public Investment Fund, Riyadh Air is exhibiting two planes in Paris and has also teased reveals. A tangible show of its ambitions could raise the mood, but the 55th Paris Air Show is still set to be a muted affair.
