Boeing and Airbus Land Big Contracts

Despite years of bad headlines over new models for the planemakers, the Paris Air Show has seen Boeing and Airbus land lucrative deals for their new jets. Boeing announced a $15.6 billion deal with Ryanair, the European budget airline, as well as the potential for more orders worth $20 billion. Airbus also landed a deal with Air France-KLM worth $7.2 billion for 25 of its A350 planes, as well as a $2.6 billion deal with SriLankan Airlines. Both Boeing and Airbus are benefiting from red-hot demand for fuel efficiency as well as growth in budget travel and emerging markets.