Farnborough saw three times more contracts signed in its first day than two years ago

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The cost of contracts signed in the first day of Farnborough Air Show in the UK, three times the value of contracts signed in the first day of the 2012 show.

Farnborough Air Show.

Farnborough Air Show.

According to British Prime Minister David Cameron commenting on the first day results, the total volume of signed contracts amounted to about USD 41.9bn, a record for recent years. According to experts, this trend will continue in the following days of the airshow.

During a visit to Farnborough Cameron announced the government funding for the national armed forces of GBP 1.1bn and the launch of the program DGP /Defence Growth Partnership/, which involves participation of the industry and government organizations.

This plan is part of the long-term economic program aimed to accelerate the development of the military-industrial complex of the United Kingdom, as well as to increase the competitiveness of the British military products.

During the first day of the Farnborough air show contracts for the delivery of civil aircraft and aircraft engines were signed, Airbus held demonstrations of AiA330-800neo and A330-900neo and Rolls-Royce’s Trent 7000 engine shosen for A330neo.

The first operator of the new Airbus aircraft became ALC (Air Lease Corporation), which undersigned to purchase 25 A330-900neo aircraft. ALC also signed a contract for 60 aircraft A321neo.

By 15:00 London time /18:00 MSK/ contracts were signed for the delivery of 326 civilian aircraft of various classes totaling USD 33.6bn and 624 aircraft engines worth USD 8.6bn.

According to the Head of the organizing committee at the Farnborough Air Show Sean Omrod “these figures illustrate the world is expecting economic growth, which will last.”

The number of exhibitors increased by 100, the participation of foreign countries – by 15 percent.

The number of Russian delegates participating in the air show was reduced from 347 to 167 people. As previously ITAR-TASS news agency reported “Due to Russian actions in Ukraine, no representatives from the Russian government have been issued HMG (Her Majesty’s Government) invitations to FIA (Farnborough International Airshow) ,” a British Foreign Office spokesperson told.

FIA is a key event in the aviation calendar, and Russia had planned a large delegation to seal deals and contracts.

Press secretary of the Russian Embassy in the UK Alex Dobrinskiy told that participation of representatives of the Ministry of Industry and Trade of Russia, Roscosmos, the Russian aviation, the state corporation Rostec, Rosoboronexport, Irkut corporation MiG, Oboronprom, company Helicopters of Russia, SCAC, United Aircraft Corporation, United Engine Building Corporation, Ural Optical and mechanical Plant was planned, but many of them did not get British visas.

Yet, according to AUC president who is at the show presently, the visa problems will not affect contracts signing.