Airbus and Boeing train sights on Asia with hopes of market rebound

Airbus finalized a deal to sell seven A350F cargo planes to Singapore Airlines during Asia's largest air show last month in an unusual contract partially modifying a previous agreement to deliver 17 passenger jets. The swap highlights the lengths taken by major airplane manufacturers to meet demand in an Asian market anticipated to post a booming long-term recovery from the pandemic. Meanwhile, Boeing displayed a prototype of its state-of-the-art widebody 777X jet in Asia for the first time at the Singapore Air Show. Airbus and Singapore Airlines sealed their agreement at a signing ceremony held during the expo in mid-February. The carrier will replace a fleet of aging Boeing air freighters averaging 18 years of service. The A350F offers improved operating and fuel efficiency. Singapore Airlines is the first major airline operator to purchase the A350F from Airbus. The European manufacturer previously sold the model to a leasing company. The 17 passenger planes in the original contract totaled an aggregate cost of $2.3b, according to a report by Reuters, which used prices listed in 2018. The order for the cargo jets is estimated to be worth about the same value. The two sides entered into a preliminary agreement in December last year. The final deal includes options to buy five additional A350Fs. Airbus will begin delivering the aircraft in October 2025. "It is a huge endorsement for us," said Christian Scherer, Airbus's CCO. "We expect to see at least 100 or so new freighters in (the widebody) category going into the Asia-Pacific region. I believe this is a conservative number."<br/>