Business World

Tuesday 24 October 2017

Boeing lands record order of €19bn from Emirates

AVIATION

Tamara Walid and Stefania Bianchi

US aviation giant Boeing has secured the biggest order in its 100-year history after signing a US$26bn (€19bn) deal with Emirates for as many as 70 aircraft.

The deal will extend the Middle East carrier's already dominant fleet.

The deal was signed at the Dubai Air Show yesterday. It includes firm orders for 50 aircraft valued at US$18bn, and the rest as options, Emirates Chairman Sheikh Ahmed bin Saeed Al Maktoum said.

Deliveries will start in 2015, and the Dubai-based carrier will retire some of its older aircraft, he said.

"We have an ambitious and strategic plan to continue growing our international network and especially increasing our long-haul, non-stop routes," he said.

Emirates is already the largest operator of the 777, which seats about 365 people. It has 94 aircraft in its fleet and an order backlog of another 41. The carrier is also the biggest buyer of the Airbus SAS A380 double-decker jumbo.

The 777 is Boeing's most profitable programme, and the company is increasing monthly production to keep up with demand. Boeing said the deal contributed to the best year yet for the 777, surpassing a record of 154 units ordered in 2005.

"This is an extremely proud moment for us as it not only underscores Emirates' ongoing confidence in the 777 but also makes this the single largest order by dollar value in Boeing's history," said Jim Albaugh, the head of Boeing's commercial-jet subsidiary.

Irish Independent

Also in Business