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New planes, fierce competition at 2012's Farnborough Airshow

U.S.-based Boeing Inc. and European rival Airbus looking to outdo each other at this year's air show

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The Typhoon jet performs a display flight at the 2012 Farnborough Airshow in southern England on July 9. The jet is built by four European companies: Finmeccanica Spa, Britain’s BAE Systems PLC, and European defense group EADS. This jet made its debut at the air show, which is attended by 83 trade and military delegations from over 43 countries.

LUKE MACGREGOR/Reuters

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An Airbus A380 flies through cloud during a display flight at the Farnborough Airshow. Airbus and Boeing head into this week’s Farnborough Airshow locked in their fiercest market share battle for up to a decade, slashing prices to win key orders for their latest narrowbody jets and storing up potential trouble for future profit margins.

LUKE MACGREGOR/Reuters

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Spectators watch as an MV-22 performs a display flight at the Farnborough Airshow. The aircraft flies like a plane but lands like a helicopter. It is manufactured by Boeing and Bell Helicopter, a unit of Textron.

LUKE MACGREGOR/Reuters

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An Airbus A380 lands after performing a display flight at the Farnborough Airshow. Airbus recently announced it will build its first ever manufacturing plant in the United States, where its largest competitor, Boeing Inc., is based.

LUKE MACGREGOR/Reuters

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Spectators watch a Boeing 787 Dreamliner performing a display flight at the Farnborough Airshow. This new commercial plane from Boeing Co. made its debut at this year’s air show, after Airbus beat the American company by a record margin in 2011.

LUKE MACGREGOR/Reuters

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An Airbus A380 performs a display flight at the Farnborough Airshow 2012. The Airbus A380 competes with Boeing’s 747-8 aircraft, which is that company’s largest passenger plane.

LUKE MACGREGOR/Reuters

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A Boeing 787 Dreamliner lands after performing a display flight at the Farnborough Airshow. Boeing landed the first big deal of this year’s air show, winning an order for 75 of its fuel-efficient 737 Max jets. The 737 Max jets is a model that is key to Boeing's response to Airbus’s rival A320neo short-haul aircraft.

LUKE MACGREGOR/Reuters

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CEO of Air Lease Corp. Steven Udvar-Hazy (L) rings the New York Stock Exchange bell alongside CEO of Boeing Commercial Airplanes Ray Conner (R) at the Farnborough Airshow 2012. Air Lease Corp. bought 75 of Boeing’s fuel-efficient 737 Max jets, an order worth $7.2-billion (U.S.).

LUKE MACGREGOR/Reuters

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