Airbus Secures First Major Deal Since Covid-19 Pandemic

Airbus Secures First Major Deal Since Covid-19 Pandemic

Airbus (OTCMKTS: EADSY), a multinational aerospace corporation, received an order for 255 new aircrafts’ from Indigo Partners at the Dubai Air Show. This serves as the first big deal for the company since the start of Covid. During a press conference, lead executives of Airbus and Air Lease referred to the agreement as a testament to the industry’s comeback.

“The end of the COVID crisis wants to install itself upon us,” proclaimed Christian Scherer, Airbus’s chief commercial officer.

The value of the arrangement is yet to be disclosed, though it is anticipated to be worth billions of dollars.

“It’s an order that takes us into the second half of the decade — that’s very important for Airbus to have visibility on the long term, to plan production as we move from Covid-19 that was [a] constrain on demand, to a world … that is going to constrained by supply,” said Airbus CEO Guillaume Faury.

Amid the ongoing pandemic, the airline industry has suffered, thus experiencing a dip in travel demand as well as various travel restrictions. However, according to Boeing, it hopes travel demand for new aircrafts’ will grow within the next two decades.

“We’re still optimistic for recovery being very strong,” said Paul Griffiths, CEO of Dubai Airports. “It’s going to be a couple of years, but I hope I’m wrong.

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