The FINANCIAL — The biennial Dubai Airshow kicked off Sunday with a whopping $18 billion order announced by Emirates for 50 Boeing 777-300ER aircraft — the largest single deal in the Boeing Company's 95-year history.
The airline has also taken options on 20 planes of the same type worth $8 billion, taking the total order to $26 billion.
The agreement was signed during a ceremony at the Dubai Airshow by Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman and Chief Executive of Emirates airline and Group, and Jim Albaugh, President and CEO of Boeing Commercial Airplanes.
The signing was witnessed by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai; Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai, and Shaikh Maktoum Bin Mohammad Bin Rashid Al Maktoum, Deputy Ruler of Dubai, after the official inauguration of the 12th edition of the Dubai Airshow — the largest aerospace exhibition in the Middle East.The new Boeing 777-300ER fleet will be powered by General Electric's 90-115B engines.
"With 61 777 300ERs currently in service, this record breaking dollar value order is another milestone for Emirates and affirms our strategy to expand our long haul destinations and continue to excel as a world leading carrier, connecting the world to Dubai and beyond," said Shaikh Ahmad, adding that Boeing 777-300 ER aircraft play a key role in Emirates' development of a modern fleet to meet the demand for global air travel for the future. He said deliveries of this batch of aircraft will start in 2015.
Emirates said the 50 777s are in addition to the 40 777-ERs that Emirates already has on order, taking the total 777 order to 90 aircraft. Currently Emirates has 61 of these long-range planes in its fleet. The order, aimed at Emirates' future growth, also makes 2011 the best-selling year for the 777 programme, surpassing the previous record of 154 orders set in 2005. With the Emirates order, Boeing's 2011 net order book for the 777 stands at 182.
Earlier, Shaikh Mohammad Bin Rashid inaugurated the five-day event, flanked by Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, followed by a tour of the event.
Shaikh Mohammad Bin Zayed yesterday unveiled the model of the Cacciatore di Stelle, a P.180 Avanti II aircraft manufactured by Piaggio Aero, in which Mubadala Aerospace has a stake.
The aircraft's body is designed with drawings of towers, symbols and stars that depict the UAE's rich history. The designs were made by Mimmo Paladino, a renowned Italian sculptor, painter and printmaker.
The airshow, which closes on Thursday, is expected to see more aircraft sales announced.
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