SINGAPORE – Organizers of the Singapore Airshow say $12.3 billion in airplane deals were signed at the event this week, a sharp drop from more than $30 billion at the last show in 2014.
Leck Chet Lam, managing director of Experia Events, says Friday that this year's figure was comprised of 10 deals, with another 40 made at undisclosed values. There were 24 undisclosed deals in 2014.
The previous show generated $32 billion of sales. Organizers released this year's total after the three-day trade period ended Friday.
Modest airplane orders for Boeing and Airbus announced earlier in the week hinted at a lull in demand, as overflowing order books at the manufacturers and a fall in oil prices spurred airlines to keep their older less fuel-efficient planes for longer.