Billions of dollars are at stake as the world’s largest planemakers, Boeing Co. and Airbus SE, duel over orders this week at the Farnborough air show outside of London, the biggest event of its kind this year.

Beyond the order avalanche, manufacturers, suppliers and airlines use the event to haggle over contracts and float ideas for new planes and ventures. Military chiefs and governments hammer out arms deals and announce defense initiatives. Farnborough, which alternates with the Paris air show, is also a showcase for new technology and ideas, from flying taxis to space flight.

We are following developments in real time. Time stamps are local for London.

Boeing Strikes First (8:34 a.m.)

The U.S. manufacturer got things going with a $4.7 billion order for 14 777 Freighters and purchase rights for an additional seven. The new order will double DHL’s global 777 fleet and help it curb emissions, the delivery service said.

Pre-Show Action

Heading into the show, Toulouse, France-based Airbus was closing in on orders totaling $29 billion, based on list prices, from two Asian carriers, Malaysia’s AirAsia Group Bhd., and Taiwanese startup StarLux Airlines. The $23 billion AirAsia deal would give a boost to Airbus’s slow-selling A330neo wide-body, while adding to the order pile for the popular A320neo narrowbody family. AirAsia would become the biggest customer for the marquee jet. StarLux, founded by former Eva Airways Chairman Chang Kuo-wei, is aiming to start long-haul service to North America by 2021.

C Series Joins A Team

Airbus is seeking to jump-start the order book for its newly acquired C Series small jetliner, now dubbed the A220. Going into Farnborough, the planemaker was trying to iron out the last hurdles to a 60-jet order from David Neeleman, founder of JetBlue Airways Corp., and a group of investors who are trying to start a new U.S. low-cost airline. The A220 program got an important vote of confidence from Air Lease Corp. founder Steven Udvar-Hazy, who told Bloomberg the A220 is “a more attractive prospect” under Airbus. “This has changed the whole landscape in terms of its credibility.’’

Growing Pains

The largest manufacturer of jet engines, CFM International Inc., has a message for Airbus and Boeing executives who’re mulling a boost in production of their narrow-body jetliners next decade: not so fast. Airbus and Boeing are undergoing an unprecedented order boom fueled for single-aisle jets driven by fuel-saving planes and growth in air travel, especially Asia. That’s put pressure on suppliers—especially engine manufacturers—who have fallen behind on orders.