BA owner places huge order for grounded Boeing 737 Max

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But analysts expect this year's show to be relatively subdued, with slowing economies, trade tensions and geopolitical uncertainty unsettling airlines, highlighted by a profit warning from Lufthansa late on Sunday.

But this year Boeing is still grappling with the grounding of its top-selling 737 MAX aircraft in March after two deadly crashes, while European arch-rival Airbus is dealing with the fallout from a long-running corruption scandal.

The FAA was castigated for refusing to ground Boeing's 737 Max fleet following two fatal crashes caused by a software malfunction.

Speaking on Sunday before the Paris Air Show, Muilenburg told reporters that Boeing engineers learned in 2017 that a warning light in the cockpit of its top-selling Max, created to alert pilots when the two angle-of-attack sensors disagreed, didn't work as intended.

Boeing has said it is still working on the design of a new mid-size plane for the same market as the A321XLR.

But as Boeing was on the defensive, its competitor Airbus revealed that it had received 100 orders for new planes, and unveiled its new jet, the single-aisle, long-range A321XLR that is supposed to enter service in four years, according to CNN. That narrative got upended on Tuesday when Boeing announced a show-stopping $24 billion order for the stricken jet. The planes would be delivered between 2023 and 2027 to airlines owned by IAG.

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"We can fly from northeastern Asia into south Asia, from the Middle East to Bali or from Japan deep into Australia, and so on", said Airbus chief salesman Christian Scherer. "It is a new game for all of us." said Estuardo Ortiz, CEO of JetSMART".

The plane also comes with features that Airbus hopes will improve its "environmental performance".

"Our strategy is to replace our fleet with bigger and more fuel-efficient aircraft to fly more passengers utilising our existing slots while reducing our environmental footprint per passenger", President Lance Gokongwei said in a statement.

Challenger airlines such as JetBlue will drive prices lower, especially in premium business class cabins, while the A321XLR's extended range - pegged at "up to 4,700nmi" or 8,700km - will also add further-field destinations such as NY to continental Europe.

The announcement of yesterday's deal with International Airlines Group couldn't have come at a more opportune moment. The Fort Worth, Texas-based airline is expected to use the plane as a replacement for its aging fleet of 34 Boeing 757-200 jets.