São Paulo, Brazil, February 6th, 2019 – Embraer Defense & Security and its partner Sierra Nevada Corporation (SNC) were awarded a contract to deliver 12 A-29 Super Tucano light attack aircraft to the Nigerian Air Force.
“SNC is proud to work with our partner, Embraer Defense & Security, to build A-29s in support of the Nigerian Air Force in addressing their on-going training and security needs,” said Taco Gilbert, Senior Vice President of ISR, Aviation and Security (IAS) at SNC. “The combat-proven A-29 is designed and built for the mission in Nigeria. It’s the most reliable and cost-effective solution for basic and advanced flight and combat training, close air support operations, ISR (Intelligence, Surveillance, and Reconnaissance), counterinsurgency and irregular warfare scenarios.”
“The A-29 Super Tucano has become the global reference for light attack and advanced training with a proven track record in several combat zones around the world”, said Jackson Schneider, President and CEO of Embraer Defense & Security. “Embraer welcomes Nigeria as the latest member of this true international coalition that is helping bring peace to the world.” The A-29 is conducting combat missions on a daily basis in theaters around the world. It has more than 46,000 combat hours and more than 360,000 total flight hours. With the Nigeria order, the A-29 is the choice of 14 air forces worldwide.
In addition to its combat record, the A-29’s robust landing gear and enhanced clearance enable take-off and landing in even the most austere field conditions. The aircraft also offers exceptional dependability and accuracy in weapons delivery, making it highly effective in the light attack role.
The contract for the Nigerian Air Force includes ground training devices, mission planning systems, mission debrief systems, spares, ground support equipment, alternate mission equipment, contiguous U.S. interim contractor support, outside of continental U.S. (OCONUS) contractor logistic support and field service representatives for OCONUS support.
The aircraft will be produced in Jacksonville, Florida, and modified in Centennial, Colorado. The aircraft are expected to be delivered to Nigeria in line with the contract timelines, as part of a larger more comprehensive training and support package.
Caesars Republic Scottsdale to Break Ground in Second Half 2019
LAS VEGAS, January 28, 2019 – Caesars Entertainment Corporation (NASDAQ: CZR), the world’s most diversified casino-entertainment company today announced plans to open Caesars Republic Scottsdale, its first non-gaming hotel in the United States, as part of its plan to expand its brands and loyalty network through its licensing strategy.
Caesars Republic Scottsdale will be located adjacent to the region’s premier luxury retail destination, Scottsdale Fashion Square, and will be a four-star hotel developed by HCW Development and operated by Aimbridge Hospitality. Caesars Entertainment will license its brand, advise on design elements and integrate the industry’s leading loyalty network Total Rewards.
“Caesars Republic Scottsdale represents the introduction of a new world class brand and further progress on our strategy to expand our non-gaming business into premier destinations,” said Caesars Entertainment President and Chief Executive Officer, Mark Frissora. “This project will be our first non-gaming asset in the United States and demonstrates the global strength of the Caesars brand. We look forward to partnering with HCW Development and Aimbridge Hospitality to create a world-class experience in one of the nation’s most desirable communities.”
This modern 11 story glass structure with 266 rooms will be developed at the intersection of North Goldwater and East Highland Avenue. This high-profile location will allow the Caesars Republic Scottsdale guests the ability to walk to the state’s most elegant mall.
The interior décor will feature rich textures and strong architecture, juxtaposing soft curves and bold accents in a chic and classy lobby, with designs curated throughout the guest rooms. The first-floor bar will be the spot for an after-work cocktail or glass of wine after a day of shopping. The signature restaurant will feature a sophisticated, high-energy environment that will synergize with surrounding trade areas, catering to both locals and hotel guests alike. There will be an abundance of outdoor seating on the patio with fantastic views of Camelback Mountain. In addition, there will be a coffee shop, ideal for a casual business breakfast or as a grab-and-go option for those on the run.
The guest room experience will set the standard for rooms and amenities in Scottsdale. In addition to the mixture of kings, double queens, one and two-bedroom suites, the hotel will also feature a bridal suite, and on the 11th floor, five luxury entertainment suites. On the second floor, there are five breakout rooms which will accommodate up to 40 people each or can be opened for events up to 200. The second-floor executive board room is capable of seating 16 at a permanent table.
Caesars Republic Scottsdale will house a 7,000-square foot column-free ballroom with 34-foot sliding glass doors which open out onto the adjacent lawn, suitable for outdoor events for up to 600 people. The ballroom is divisible into four sections and can accommodate banquets up to 500. The ballroom’s LED lighting system will allow event organizers to customize the look and feel of their event with the ability to change the ceiling color. Additionally, the ballroom will feature a cutting-edge sound, internet and audio-visual system.
The most stunning part of Caesars Republic Scottsdale will be the 7th floor, encompassing a rooftop pool and bar – the only rooftop pool in Scottsdale – featuring breathtaking views of Camelback Mountain. The pool will host activities such as yoga at 9 and champagne at 11. The rooftop bar will feature specialty drinks by HCW’s award-winning mixologist. There will be weekend brunches and lively afternoon energy year-round. This area will also serve as private event space for exclusive groups or company events. Adjacent to the pool will be the hotel’s state-of-the-art fitness center.
“We are very excited to work alongside our new partners to introduce the Caesars Republic brand to the world,” said Richard Huffman, Chief Executive Officer and President of HCW Development. “Scottsdale is a vibrant community and we are confident that this high-end facility will provide a truly unique and dynamic experience to both locals and guests traveling from afar.”
Caesars Republic offers a new kind of lifestyle hotel experience; the first brand from Caesars Entertainment designed exclusively for non-gaming hotels. Caesars Republic is a brand with an edge: it inspires the imagination, pushes creative boundaries, and collaborates with trendsetters.
The brand pays homage to the dynamic energy of Las Vegas – celebrating rebellious spirits and beckoning its guests to unleash their alter egos. Just as all republics are social in nature, Caesars Republic incorporates thoughtful details and brand rituals to facilitate connections among its guests.
No two hotels within the brand will be exactly alike – everything from the décor to the culinary offerings are inspired by local traditions and tastemakers. Caesars Republic taps into the unique pulse of each host city, amplifying its energy and culture.
“We are honored to partner with Caesars Entertainment and add a hotel with the iconic Caesars brand to our management portfolio,” said Aimbridge Hospitality President and Chief Operating Officer, Robert Burg. “We share Caesars’ commitment to operating excellence and look forward to managing Caesars Republic Scottsdale.”
Scottsdale is an ideal market for the introduction of the Caesars Republic brand. Scottsdale hosted an estimated 4.5 million overnight visitors and 4.4-million-day trip visitors in 2017. Caesars Republic Scottsdale will be located just north of Scottsdale Fashion Square. Owned and operated by Macerich (MAC), Scottsdale Fashion Square features an elevated luxury wing anchored by Neiman Marcus, plus a new flagship Apple, and more than 200 shopping and dining options including market exclusives Saint Laurent and a recently announced Nobu.
“Our market-dominant Scottsdale Fashion Square is the natural home for the innovative new Caesars Republic hotel concept,” said Ed Coppola, President, Macerich. “The addition of this exciting new hotel is part of the next phase of development for our exceptional mixed-use property, which also will introduce Class A office space and upscale residences to bring even more value to this one-of-a-kind destination.”
This announcement follows the late 2018 opening of Caesars Entertainment’s two beachfront luxury resorts and beach club on Meraas’ Bluewaters Island in Dubai. Additionally, Caesars announced plans last year to develop a non-gaming Caesars Palace resort along the coast of Puerto Los Cabos, Mexico.
About Caesars Entertainment Corporation
Caesars Entertainment is the world’s most diversified casino-entertainment provider and the most geographically diverse U.S. casino-entertainment company. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment’s resorts operate primarily under the Caesars®, Harrah’s® and Horseshoe® brand names. Caesars Entertainment’s portfolio also includes the Caesars Entertainment UK family of casinos. Caesars Entertainment is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. Caesars Entertainment is committed to environmental sustainability and energy conservation and recognizes the importance of being a responsible steward of the environment. For more information, please visit, visit www.caesars.com/corporate.
Project team currently includes BRP Architect firm out of Springfield, MO; Studio 11 Interior Design from Dallas, Texas; Transaction handled by LeDonna Spongberg of CBRE’s Phoenix office.
(Reuters) – Union Pacific Corp (UNP.N), one of the biggest U.S. railroads, on Thursday reported higher-than-expected quarterly profit and said efficiency gains will bolster profits in 2019.
Shares in the company, which connects 23 states in the western two-thirds of the United States by rail, rose 3.3 percent to $159.37.
Its operating ratio – a measure of operating expenses as a percentage of revenue and a key metric for Wall Street – improved 1.1 points to 61.6 percent in the fourth quarter from the same period last year, the company said.
A lower ratio means more efficiency and higher profitability.
“We expect (2019) operating margins will increase as a result of solid core pricing gains and significant productivity benefits,” Chief Executive Lance Fritz said in a statement.
The Omaha, Nebraska-based company this month hired former Canadian National Railway Co (CNR.TO) executive and turnaround expert Jim Vena as its chief operating officer and said its operating ratio would fall below 60 percent by 2020.
Vena worked with Hunter Harrison, who led the revival of two Canadian railroads and died in 2017 after a short stint as CEO of CSX Corp (CSX.O), which recently set a 2019 target for a sub-60 percent operating ratio.
Union Pacific is cutting jobs, consolidating businesses and selling a corporate retreat to drive costs lower.
On a conference call on Thursday, Vena said “everything is on the table” as Union Pacific looks for further efficiency gains.
“I know the railroad has a vision in place to get to a 55 operating ratio already, and we’ll be working aggressively towards that goal,” Vena said.
Net income fell to $1.55 billion, or $2.12 per share in the fourth quarter, from $7.28 billion, or $9.25 per share, a year earlier when the company received a boost from changes in U.S. tax laws.
Freight revenue in the quarter rose 6 percent, lifting total operating revenue to $5.76 billion from $5.45 billion. Net core pricing was up 2.5 percent from the year-ago quarter.
Analysts, on average, expected a profit of $2.06 per share and revenue of $5.74 billion, according to IBES data from Refinitiv.
Terminal dwell, the amount of time rail cars sit idle in a terminal, was 26.7 hours for the quarter, an 18 percent improvement versus a year ago.
Union Pacific and Berkshire Hathaway-owned (BRKa.N) BNSF are the largest U.S. freight rail operators with annual revenue of more than $20 billion each.
(Reporting by Lisa Baertlein in Los Angeles and Rama Venkat in Bengaluru; Editing by Shailesh Kuber, Steve Orlofsky and Will Dunham)
Norfolk Southern Corporation announced that its board of directors today approved an 8 percent increase in its quarterly dividend on the company’s common stock, from 80 to 86 cents per share.
The dividend is payable March 11 to shareholders of record on Feb. 4. Since its inception in 1982, Norfolk Southern has paid dividends on its common stock for 146 consecutive quarters.
Norfolk Southern Corporation (NYSE: NSC) is one of the nation’s premier transportation companies. Its Norfolk Southern Railway Company subsidiary operates approximately 19,500 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Norfolk Southern is a major transporter of industrial products, including chemicals, agriculture, and metals and construction materials. In addition, the railroad operates the most extensive intermodal network in the East and is a principal carrier of coal, automobiles, and automotive parts.
CHICAGO (December 12, 2018) Hyatt Hotels Corporation (NYSE:H) announced today Hotel SOFIA Barcelona is joining The Unbound Collection by Hyatt, becoming the first Hyatt hotel in Barcelona and third property in Spain. The 465-room hotel is located on the Avenida Diagonal, one of Barcelona’s main avenues in the heart of the city.
Originally named after Princess Sofia, wife to the former King of Spain Juan Carlos I, Hotel SOFIA Barcelona has been known to host many dignitaries and heads of state. With the hotel’s rich history paired with its contemporary and luxurious design, Hotel SOFIA Barcelona perfectly meets the brand’s promise of creating story-worthy and unforgettable experiences.
“We are thrilled to welcome guests to the first Hyatt hotel in Barcelona,” said Felipe Espinoza, general manager of the hotel. “Hotel SOFIA Barcelona has long been a symbol of glamour and luxury in the area. Its rich history and stunning architecture will deliver an unforgettable stay for the modern traveler.”
The hotel is home to luxurious suites, five distinct dining options and a live dinner experience where actors, dancers and singers perform nightly. For relaxation, guests can enjoy several leisure facilities including an elegant Mediterranean-inspired spa, the SOFIA Oasis Wellness & Spa, and a tropical garden pool.
Guestrooms
The hotel’s 465 sophisticated and completely renovated rooms are designed for those looking for a space they can call their own, tastefully designed and all with access to SOFIA Oasis Wellness & Spa. There are 18 luxurious suites guests can choose from including So Suite, which offers a large, open space featuring a living room, in addition to a spectacular bathroom with a bathtub and modern touches. All suites feature impressive views of Barcelona and access to the privileged “As You Wish” services, which include amenities such as a 24-hour butler, welcome gifts, access to the Wish Lounge serving daily cocktails and delicacies, and other personalized offerings.
Dining and Drinking
The hotel boasts five distinct gastronomic spaces with unique personalities, all of which have been carefully designed by interior designer Jaime Beriestain. IMPAR delivers Mediterranean fusion cuisine, while Sofia Be So is a more intimate luxury restaurant serving traditional local dishes with premium ingredients. For coffee or cocktails, the Sofia Bar offers the perfect spot to rendezvous. And, for a sweet treat, Philosofia is the hotel’s own bakery, where everything is made fresh daily. The hotel also has its own live dining experience, Zuu, where guests can enjoy evening entertainment.
Wellness
Hotel SOFIA Barcelona serves as a luxury oasis, with an abundance of wellness offerings. Guests have the option to relax, be pampered, and stay fit within the elegant Mediterranean-inspired spa, the SOFIA Oasis Wellness & Spa, a tropical garden pool and a state-of-the-art fitness center.
Meetings and Events
Hotel SOFIA Barcelona features one of the largest meeting spaces in the city, including a convention hall that seats more than 1,000 attendees, as well as 22 multi-purpose meeting rooms distributed over two floors. Featuring natural light and equipped with cutting edge technology, the venue caters to every request, be that business or pleasure.
Hotel SOFIA Barcelona is the third property to open in Europe as part of The Unbound Collection by Hyatt. It joins Hôtel Martinez in Cannes, France and Nish Palas in Istanbul, Turkey.
CHICAGO(December 10, 2018) – Hyatt Place Chongli is the first Hyatt-branded hotel to open in Zhangjiakou in China’s Hebei Province. The hotel features the Hyatt Place brand’s intuitive design, casual atmosphere and practical amenities such as free Wi-Fi.
Hyatt Place Chongli is located within Thaiwoo Ski Resort, which offers offering skiing and other exhilarating snow-sports in the winter and mountain biking and horse riding in the summer.
Hyatt Place Chongli is a 55-minute drive from Zhangjiakou Ningyuan Airport and a three-hour drive from Beijing Capital International Airport. By the end of 2019, guests will be able to travel by train from Beijing to Thaiwoo Ski Resort in 50 minutes. The hotel offers easy access to local attractions, including Grass Skyline, a 133-kilometer stretch of picturesque grassland dotted with Mongolian yurts and grazing cattle; Cuiyun Mountain Forest Park, which is comprised of more than 20 peaks; Huapiling scenic area, a mountainous border between Zhangbei and Chongli counties; and Ice & Snow Museum Chongli, the largest museum of its kind in China.
“As the Chongli district continues to develop its infrastructure and thrive economically, we are excited to add to the momentum with the opening of the first Hyatt Place hotel,” said General Manager Luke Li. “With our smartly designed social spaces and guestrooms with separate work and sleep areas, our multitasking guests can easily accomplish what they need to do while on the road.”
Hyatt Place Chongli offers:
132 spacious guestrooms with separate spaces to sleep, work and play, as well as a Cozy Corner sofa-sleeper
Free Wi-Fi throughout the hotel and guestrooms
Gallery Kitchen Breakfast features an array of Western and Chinese breakfast favorites, including noodles, dim sum, ham, and eggs, as well as fresh fruit, yogurt and more
Gallery Menu serving freshly prepared meals
24/7 Gallery Market offering ready-to-go sandwiches and salads all day long
Coffee to Cocktails Bar featuring coffees and premium beers, as well as wines and specialty cocktails
Odds & Ends program for forgotten items that guests can buy, borrow or enjoy for free
Meeting Places with 160 square meters of flexible, high-tech meeting/function space
24-hour Gym featuring cardio equipment with LCD touchscreens and free ear buds
Heated indoor swimming pool with views of Thaiwoo Ski Resort as well as a freeform kids pool and a massage pool
HYATT PLACE CHONGLI LEADERSHIP
Hyatt Place Chongli is under the leadership of General Manager Luke Li and Director of Sales Justin Guo. In his role, Li is directly responsible for managing the day-to-day operations of the hotel, including overseeing the hotel’s 54 associates and ensuring guests encounter the thoughtful service for which the Hyatt Place brand is known. Guo is responsible for providing sales service and support to travelers and meeting planners frequenting the Beijing area.
CHICAGO (December 10, 2018) — Hyatt Hotels Corporation (NYSE: H) announced today the opening of Hyatt Regency Seattle, located in the heart of downtown at 808 Howell Street and near some of Seattle’s top attractions including the Space Needle, Chihuly Garden and Pike Place Market. With its sprawling, dynamic event space and number of guestrooms, Hyatt Regency Seattle is the largest hotel in the Pacific Northwest and new premier destination for meetings and events in the region. It joins two other Seattle-area Hyatt Regency hotels and offers a one-stop experience that puts everything guests need right at their fingertips.
The 45-story hotel features 1,260 guestrooms, all of which are furnished with floor-to-ceiling windows, sizeable modern bathrooms, 65-inch TVs and a collection of black-and-white photography, shot by six Seattle-based photographers, highlighting the natural beauty of the Pacific Northwest region. The hotel also offers guests a StayFit® Fitness Center, outfitted with Peloton bikes and other Technogym state-of-the-art cardio and strength equipment, and an expansive Hyatt Regency Club lounge with fire pits and wraparound patio that provides guests with stellar views of downtown Seattle.
Located just two short blocks from the Washington State Convention Center and adjacent to The Summit, the planned convention center expansion building slated to open Spring 2022, Hyatt Regency Seattle offers more than 103,000 square feet of dynamic meeting and event space for a variety of gatherings, ranging from intimate meetings to larger conferences and weddings.
“Progress is all around us,” says Hyatt Regency Seattle General Manager Tom Wolf. “No other addition to Seattle’s vastly updated cityscape is more important for Seattle tourism than the new, very visible contemporary building right in the middle of town: Hyatt Regency Seattle. With the opening of the largest hotel in the Pacific Northwest this year, Seattle will finally have the meeting space options it needs.”
Consistent with the Pacific Northwest theme throughout the property, meeting and event spaces are named after bodies of water located throughout Washington state:
The Columbia and Regency Ballrooms each offer 19,000+ square feet of space with 24- and 30-foot high ceilings, respectively.
Two junior ballrooms: Elwha Ballroom is 7,200 square feet, while Quinault Ballroom has 3,400 square feet of functional meeting space.
The high-end Deschutes Executive Boardroom, featuring a private balcony that can accommodate 24 people.
Eight pre-function spaces, each ranging from 4,292 to 7,022 square feet, which are flooded in natural light.
An additional 46 meeting rooms, ranging from 600 to 1,900 square feet, complete with floor-to-ceiling windows.
All meetings rooms are outfitted with audiovisual equipment, multiple electrical, microphone and phone outlets, as well as blackout blinds and T1 high-speed Internet with dedicated bandwidth capabilities.
The new Hyatt Regency Seattle also offers guests three on-site dining experiences:
Andare, a fast-casual Italian-style trattoria, which features a variety of homemade pasta dishes, salads and pizzas cooked in a wood-burning oven
Daniel’s Broiler, an upscale and locally renowned steakhouse owned by Schwartz Bros. Restaurants, which features USDA Prime steaks, seafood, an extensive wine list and a vast collection of whiskeys, as well as a piano bar
The Market, a 24-hour premium grab-and-go retail space with café seating, where guests can purchase freshly prepared hot and cold food and beverage items.
Built by local developer R.C. Hedreen Company, in collaboration with Seattle-based companies LMN Architects and Sellen Construction Group, the new hotel features elements that celebrate the Pacific Northwest region and can be seen throughout the property’s guestrooms and public spaces. Upon arriving, guests will notice the bright, open, and contemporary design, matched with floor-to-ceiling windows to let in as much natural light as possible, and purposefully selected, locally inspired art and photography.
R.C. Hedreen Company successfully builds and operates hotels in Seattle, and its portfolio includes Grand Hyatt Seattle and Hyatt Olive 8. To leave a lasting impact on the Pacific Northwest region with Hyatt Regency Seattle, local companies who understand Seattle real estate, LMN and Sellen, were brought in to collaborate, design and build the impressive sky-high hotel. LMN believes that architecture celebrates the inherent qualities of the region, community and site. Any new building functions in relationship to the fabric of its physical location and community of users, as well as its social, cultural and environmental context. Sellen is Seattle’s premiere builder – building communities, relationships and of course most of the significant buildings in town.
Additionally, Hyatt Regency Seattle is targeting LEED Gold Certification in 2019, which is the second highest green building rating in the world. As part of their efforts, Hyatt Regency Seattle has incorporated many sustainable elements into its guest amenities and overall design, including:
Premium large-format bath amenities in each guestroom bathroom, saving more than one million plastic bottles in waste.
Installing a light-colored roof to reduce the urban heat-island effect.
Incorporating a highly efficient laundry system that captures both heat and water after use to reduce the need for additional energy to preheat incoming water to the laundry system.
For more information about Hyatt Regency Seattle or to book your accommodations, please visit hyattregencyseattle.com.
Today Air Lease Corporation (NYSE: AL; “ALC”) announced a long-term lease agreement for two new Airbus A321neo aircraft with Air Macau. Featuring Pratt & Whitney PW1133G engines, the aircraft will deliver from ALC’s order book with Airbus in November 2019 and the first quarter of 2020.
“ALC has worked closely with Air Macau’s management team since 2010 and we are pleased to strengthen our long-standing relationship with the airline with this announcement today,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “We are committed to providing the most modern, fuel-efficient aircraft to ALC customers and these two new A321neo aircraft will significantly enhance Air Macau’s fleet operations.”
“We are honored to announce the placement of these two new A321neo aircraft with Air Macau today,” said Jie Chen, Executive Vice President and Managing Director, Asia of Air Lease Corporation. “ALC values our relationship with the airline and these two new placements contribute to our long-term association.”
“Air Macau is thrilled to announce the placement of these two new A321neo aircraft with ALC,” said Chen Hong, Chief Executive Officer of Air Macau. “We are focused on continually enhancing and modernizing our fleet with the very best aircraft available, and these two new A321neo from ALC are key to optimizing our fleet development.”
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.
ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC’s website at www.airleasecorp.com.
World’s largest leisure travel company and China State Shipbuilding Corporation set to formally launch cruise joint venture this week under the name CSSC Carnival Cruise Shipping Limited.
New cruise company in China to purchase two existing ships from Costa Group, with the first ship expected by end of 2019 to begin serving guests as part of the JV fleet.
Joint venture also finalizes previously announced agreement for world’s first two new cruise ships to be built in China for the Chinese cruise market, the first of which will be delivered in 2023.
ZHUHAI, China (Reuters) – The world’s two largest planemakers signaled on Tuesday that they were keen to see an end to a bruising trade war between Washington and Beijing, as China opened its largest airshow with a display that showcased its aviation ambitions.
Boeing (BA.N) and Airbus (AIR.PA) made their comments on the opening day of the biennial Airshow China, being held in the coastal city of Zhuhai from Nov. 6-11, that is traditionally an event for Beijing to parade its growing aviation prowess.
China has become a key hunting ground for deals for foreign aviation firms thanks to surging travel demand, but the outlook has been complicated by Beijing’s desire to grow its own champions in industries ranging from aviation to semiconductors to robots.
Its ties with the United States have in particular been strained. President Donald Trump criticizes China for what he sees as intellectual property theft, entry barriers to U.S. business and a gaping trade deficit, while Beijing calls the complaints unreasonable. The two sides have resorted to tit-for-tat tariffs on goods worth billions of dollars.
While U.S.-made aircraft, among America’s biggest exports to China, have so far escaped Beijing’s tariffs, analysts said they were still waiting to see what the trade war would spell for U.S. companies such as Boeing.
George Xu, the top China executive at Boeing’s biggest rival Airbus (AIR.PA), said at a news conference that the European planemaker did not expect a sales windfall from the tensions.
“I am Chinese and we don’t like this kind of trade war,” he said. “Nobody will be the winner in this kind of trade war.”
Airbus had hoped to close a deal for 184 aircraft during a trip to China by French President Emmanuel Macron in January, but negotiations appear to have stalled, industry sources say.
In carefully worded comments, Boeing’s senior vice-president of Northeast Asia sales, Rick Anderson, said China was a rapidly growing aviation market and that he believed Washington and Beijing understood that.
“We continue to engage with leaders of United States and China, and continue to urge productive conversation to resolve the trade discrepancies,” he said.
“We are optimistic for a quick solution.”
AMBITIONS ON DISPLAY
China and United States have in recent days stoked optimism that a breakthrough might be made, after Trump spoke by phone with President Xi Jinping last week.
The two countries have also announced that they will hold a delayed top-level security dialogue on Friday.
Still, Beijing has shown little sign of taming its ambitions to catch up with rivals like the United States, France and Germany in high-end technology.
Projects being showcased in Zhuhai included a full-scale mock-up of a widebody CR929 jet being jointly developed by Commercial Aircraft Corporation of China and Russia’s United Aircraft Corporation (UAC) in hopes of eventually competing with Boeing’s 787 and Airbus’ A350 jets.
The global market for widebody jets is estimated to be worth $2.5 trillion over the next two decades, according to Boeing, with the fleet size more than doubling to 9,180 jets.
Widebodies account for around 20 percent of projected global jet deliveries over that period but almost 40 percent by value.
Hundreds of spectators and industry executives at the airshow were also treated to a roaring flight demonstration that involved three of China’s Chengdu J-20 stealth fighters, which debuted at the show two years ago with a 60-second flypast.
China put the J-20 into service last year that experts say is a part of Beijing’s plan to narrow a military technology gap with the United States and its F-35 stealth fighter.
Sophisticated anti-aircraft batteries were also on display.
“If you tie those together with the J-20, the message is about Anti-Area Access Denial. It is not just about protecting the motherland but pushing the Americans away,” said aerospace analyst Sash Tusa of UK-based Agency Partners.
(Reporting by Brenda Goh, Stella Qiu and Tim Hepher; Writing by Brenda Goh; Editing by Himani Sarkar)
