IAF signs deal worth 860 million USUSD at Singapore Airshow

[sancho]

IAF signs deal worth 860 million USUSD at Singapore Airshow

Singapore, Feb 6 : The Indian Air Force has concluded a missiles deal worth over 860 million US dollars at the Singapore Airshow this week, media reports said today.

The Indian Air Force signed the biggest defence contract at the show, started on February 2 and will come to an end tomorrow, said Singapore Airshow and Events managing director Jimmy Lau, according to the Pan-Asian news channel report.

Overall, around ten billion US dollar worth of deals were concluded at the Singapore Airshow despite the economic gloom.

Though the deals were about 23 per cent lower than business of 13 billion dollars in 2008, the organisers were expecting a further follow on deals.

Trade analysts had projected five billion dollars worth of deals at the show where more than 800 aviation companies from 40 countries displayed fighter jets, aircrafts, helicopters and related aviation and defence accessories.

Some 43,000 international trade visitors attended the show, a major door step to Asia Pacific's 1.1 trillion dollar worth aviation business over the next 20 years, the organisers said.

A Boeing forecast puts Asia Pacific aircraft demand at 9,000 planes, including 3,000 from China, for the next 20 years. South west Asia, including India, will require another 1,200 planes in the next two decades, they added.

IAF signs deal worth 860 million USUSD at Singapore Airshow .:. newkerala.com Online News -45825

 

[Laughing Buddha]

Hi Sirji

but what the deal for...what is India buying now for 860 mln..

Can any one give more info... is missile related or what ?

 

[Tejas-MkII]

Which missiel is this......??????

 

[Laughing Buddha]

Singapore: The aviation industry's first major meeting of the year concluded business on Friday with only a few deals and no major sales by aerospace giants Boeing and Airbus, reflecting unease about the global economic outlook.
The Singapore Airshow reported that $9 billion worth of deals were signed during five days of trade, $4 billion short of the previous airshow in the city-state in 2008.
"It was disappointing, no commercial (aircraft) deals, everything was on MROs (maintenance, repair and overhaul). People even thought last year's Dubai Airshow was disappointing," said aviation analyst Shashank Nigam, who writes a blog on the industry.
The biggest commercial deal at the Singapore Airshow this year was a $3.5 billion deal between International Aero Engines and Jetstar Airways, of which $1.5 billion was for V2500 engines and $2 billion for a long-term service agreement.
The International Aero Engines consortium groups Pratt & Whitney together with Rolls-Royce , MTU Aero Engines of Germany and a trio of Japanese heavy engineering companies.
European aircraft maker Airbus, a unit of EADS , said on Thursday that it had signed a memorandum of understanding to sell six Airbus A330-200 aircraft to Hong Kong Airlines, valued at $1.15 billion at list price.
The biggest defence sale was between India's air force and a state-owned firm, which was announced at the show.
The Indian Air Force ordered 750 Akash surface-to-air missiles from the Bangalore-based defence enterprise Bharat Electronics Ltd at an estimated cost of 40 billion Indian rupees ($860 million), the organisers said
.
05/02/09 Harry Suhartono/Mariko Katsumura/Nopporn Wong-Anan/Reuters

 

[garibnawaz]

Why sign a deal in Singapore? when you can sign one in South Block or in Bangalore?

GB

 

[sancho]

Why sign a deal in Singapore? when you can sign one in South Block or in Bangalore?

GB

PR for exports?

 

[Novice09]

Why sign a deal in Singapore? when you can sign one in South Block or in Bangalore?

GB

They are highlighting Akash Missile Defence system in International Market. A good marketing strategy. Reminds me "Hieng lage na fitkari, rang bhi chokha ayee"

 

[Shambu]

Great PR job for Akash.Well done IAF.

 

[hindesi]

marketing 101 anyone?

 

[zeus]

marketing 101 anyone?

Malaysia was briefed about Akash some time ago ,may be to show great Home support in the region for Export orders