12:00 AM, February 17, 2012
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Deals worth $31 billion have been signed at this year’s Singapore Airshow setting a new record, according to organizers. The number was "threefold of what we did two years ago" at the biennial event, Jimmy Lau, managing director of the organizer Experia Events, told a press briefing. The largest deal worth a record $22.4 billion was a placed by Indonesia-based Lion Air which ordered 230 jets. Rolls-Royce said it won orders worth nearly $500 million U.S. "Our aim now is to bring in the three or four provinces that are very active in aerospace business," he said. Nevertheless, Lau said that it is "not something you can do overnight" to grow the business aviation market as it requires the infrastructure and procedural changes to support its growth. "Growing in the business aviation market was "not something you can do overnight", he said, adding "it requires the infrastructure and procedural changes to support its growth".
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