The presence of the author at this unique air event has really been a magnificent personal experience. During its course, from 11 to 17 July, the organizers have confirmed that the orders and aircraft purchase options signed, were amounting to USD 123.9 billion. As it has been officially registered in the order books, 856 aircraft, of approximate value of 94 billion USD and engines worth approximate 23 billion USD, were ordered, with smaller parallel agreements, amounting to 7 billion USD. The event was
The presence of the author at this unique air event has really been a magnificent personal experience.
During its course, from 11 to 17 July, the organizers have confirmed that the orders and aircraft purchase options signed, were amounting to USD 123.9 billion.
As it has been officially registered in the order books, 856 aircraft, of approximate value of 94 billion USD and engines worth approximate 23 billion USD, were ordered, with smaller parallel agreements, amounting to 7 billion USD.
The event was inaugurated by the former British Prime Minister, David Cameron, and Richard Branson, the visionary major shareholder of Virgin Atlantic.
The opening ceremony held a show flight of the new F-35B superweapon, and aerobatic displays performed by the Red Arrows.
Characteristic was the statement of Shaun Ormrod, International Chief Executive of the Farnborough Airshow, during his speech at the main event, attended by hundreds of executive managers from the aviation industry, where he said verbatim: "With these orders added to the already long backlog, it seems that the aviation industry will remain active and busy for many years to come".
Naturally, Richard Branson made a spectacular appearance in front of the 12 new A350s, commissioned for long distances, accompanied by the Airbus Industry executives.
Of course, smaller aircraft, such as the new A320 and Boeing 737 max, had a strong presence in orders, as well. At the same time, there were some surprises regarding the production of the mega bus A380, for which Airbus announced that, after 2018, will be making only one per month, a sign that this generation of aircraft begins to give way to new production technologies.
Thus, companies such as EasyJet progress dynamically in placing new orders, basing their operations in airports in every other small European city, in order to reduce the cost of the tickets, like true low-cost carriers (LCC).
We also had debuts for smaller and heavy helicopters, as well as heavy turbo prop air refueling aircraft. We must certainly not forget to mention what we saw, regarding the Sukhoi Sportjet SJ100.
And many revivals were showcased at Farnborough, such as the aircraft of the Aero Elvira Optica Observation, which looks more like a helicopter and makes a comeback after 30 years, with a glass cabin, 3 wheels and huge rear wind turbine.
It is very important here to mention the presentation of the 6-seat light business jet, presented by Honda, after many years of efforts.
Additionally, Pratt & Whitney Canada PW306 engines, which are to move reliably the Dornier 328, which hopes to achieve a new aviation career and subsequent orders.
Besides, ATR with its 5-propeller Turbo Prop of ATR 42/72 also enters into this dynamic market. And let's not talk about aircraft engines.
Because the tough duel between International Aero Engines V2500s and CFM International CFM56s is hard and unrelenting. Finally, we saw very large, new and old companies, who prebuy hundreds of main types of large aircraft, en masse, in order to subsequently lease them to the airlines.
And in that field, the commercial and economic battle is highly important and pushes the airline industry into taking a step forward.
It was truly a memorable personal experience, as we mentioned at the beginning. We are looking forward to Le Bourget in France, in two years, to view how these transcendental human creations will draw new aerial paths for the development of aviation, the interests of the passengers, the containment of prices and the increase of safe flight conditions.
Emmanuel A. Gyzis is managing partner of Emmanuel A. Gyzis & Associates Law Offices.
He was born in Athens, Greece, 13 January 1947; admitted to Athens Bar Association 1974. Education: University of Athens, Law School (1972), London, (L.LM. 1980), specialized in Aviation Law and originally worked in the respective field on behalf of British Tour Operators and Charter companies.
With longstanding journalistic and writing activity, his articles have been published in financial newspapers and magazines specialized in Aviation and Tourism. Author of pioneering monographs on the development issues of Olympic Airways (1989), he has published during a course of many years, a series of articles regarding its viability, its position in the international environment, as well as for other private airlines in general, while at the same time he participated in relevant International and Greek Conferences and Organizations. Successful and long-term engagement with issues regarding private airports / heliports, Low Cost Carriers (LCC), Aircraft Fractional Ownership, Ground handling matters. At his law firm “EMM. GYZIS AND ASSOCIATES”, together with a group of specialized associates he deals mainly with aviation law issues (cooperation with construction companies for commercial aircraft and leasing companies) and tourism law issues, specializing in mass tourism from/ to Greece and occasionally cooperating with Tour Operators. Since 1993, he has founded a number of Greek and foreign airline companies, on behalf of his clients, in accordance with the applicable legal status. He has participated in committees for the drafting of legislation regarding air transport, such as private airports, the Presidential Decree for private heliports and the Basic Legislation of the Aviation Code and he is the General Secretary of the Hellenic Aviation Society. For many years, he has been studying emerging markets, as a consultant for foreign companies, which plan to invest worldwide.
LANGUAGES: English.
MEMBER: Athens Bar Association, International Bar Association, European Society of International Law (ESIL), American Society of International Law (ASIL), British-Hellenic Chamber of Commerce, Greek-American Union, Hellenic Aviation Society.
PRACTICE AREAS: Aviation Law, Aerospace Law, Tourism and Transport Law, (European) Commercial and Company Law. Arbitration. Establishment and Operation of foreign companies in Greece. Project Finance. Free Movement of Capital. Privatization. Foreign/ Hotel Investments. Mergers and Acquisitions.
