Farnborough '92 Business Diary

ON the first day of this international, multimillion pounds, aviation exhibition, there was a very obvious gloom in the air. Words like ‘despite’, ‘but’ and ‘well!’, could be heard echoing around both the many occupied and vacant stands. The recession, of course, has been the main reason for these pessimistic and negative words. Defence cuts, geopolitical uncertainties, cutbacks in other related industries, fewer passengers and increasing competition are not the best ingredients for business success and future growth. However, as the week progressed, the show began to buzz with the increasing number of traders and the unfolding business news. Much of the news consisted of companies merging ideas and efforts in the hope that ‘two minds were better than one’. In fact, on 9th September, it was announced that thirty major European Aeronautical Companies called for a large strategic European effort for research and technology collaboration to ensure the future international competitiveness of the European aeronautical industry.