Boeing kickstarts air show

Bengaluru: Boeing Co said on Monday it won an order for 14 freight aircraft for a value of $4.7 billion, firing the opening salvo against rival Airbus SE in a contest for business on day one of the Farnborough Airshow.

Logistics group DHL placed the order for the 777 freighters and acquired purchase rights for seven more freighters, the U. S planemaker said. Boeing and Airbus are expected to make several announcements on the first day of the July 16-22 event, as they seek to bolster their already bulging order books.

The latest order follows Boeing´s deal with FedEx Corp unit FedEx Express in June for 24 medium and large freighters. While global trade tensions are escalating, the industry is counting on e-commerce continuing to soar, with more people buying products online for quick delivery.

Air freight demand is expected to increase 4 percent this year, according to the International Air Transport Association (IATA). Last year was the best for cargo since 2010, with traffic growth more than doubling to 9 percent, three times the growth in capacity.