The two very up-to-date Gulf carriers, Emirates and Etihad have separately placed a whooping US $124.2 billion aircraft purchase order at list prices, at the current Dubai air show, according to an announcement made by the two airlines. According to details available here on Monday, Emirates Airline has again rewritten all records in civil aviation with an order for 150 Boeing 777X, comprising 35 Boeing 777-8Xs and 115 Boeing 777-9Xs, plus 50 purchase rights; and an additional 50 Airbus A380 aircraft.
Together, the Boeing and Airbus orders, excluding purchase rights, are worth an estimated US $99 billion at list prices. This is the largest ever aircraft order in civil aviation and also Emirates' largest order announced at any event to date. The agreement was signed at the Dubai Air Show by Sheikh Ahmed Bin Saeed Al-Maktoum, Chairman and Chief Executive, Emirates Airline and Group, with Jim McNerney, Boeing Chairman, President and CEO, and Fabrice Brégier, Airbus' President and CEO. The signing was witnessed by Sheikh Mohammed bin Rashid Al-Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai.
Similarly, Etihad Airways, the national airline of the United Arab Emirates, announced a firm order for 56 new Boeing wide-body aircraft, with options and purchase rights for a further 26, to support its continued global expansion. The order represents an investment of up to US $25.2 billion at list prices, including related engines. The deal, unveiled at the Dubai Air Show, includes 25 next-generation Boeing 777X aircraft of which 17 are 777-9X and eight are 777-8X aircraft. Etihad Airways is the first airline to order the 777-8X and will be a launch customer for the aircraft which is expected to enter service around the end of the decade. The airline also ordered 30 Boeing 787-10 Dreamliners. Today's announcement makes Etihad Airways the largest airline customer for the Boeing 787 Dreamliner, when combined with previous orders for 41 of the Boeing 787-9 variant, and includes the milestone 1,000th Boeing 787 Dreamliner to be ordered. It also ordered one Boeing 777-200 freighter.
James Hogan, President and Chief Executive Officer of Etihad Airways, said: "This is a significant, timely and essential order for us, as we celebrate our tenth anniversary and plan for our next decade and beyond. In just 10 years, we have grown from a start-up carrier to a global airline. This order enables us to build upon our achievements, using the next generation of aircraft to support our next generation of development. Boeing has been a long term strategic partner for Etihad Airways throughout that journey, playing an integral role in our growth. I am delighted we are extending our relationship, bringing industry-leading aircraft into our modern fleet."
Ray Conner, President and Chief Executive Officer, Boeing Commercial Airplanes, said: "We are very proud of our relationship with Etihad Airways, which began nine years ago with an order for five 777-300Ers. It is gratifying that as one of the world's fastest growing airlines, Etihad Airways continues to have confidence in Boeing's products by selecting the 777X and by increasing its order for the 787 Dreamliner. We look forward to further strengthening this partnership as Etihad Airways continues to build its position as a forerunner in the global aviation industry."
The first of the new aircraft to join the Etihad Airways fleet will be the Boeing 787-10s, which will begin arriving in 2018, followed by the 777-9X from 2020 and the 777-8X from 2022. Etihad Airways currently has 86 aircraft in operation, with more than 80 aircraft on firm order. Its last major aircraft deal was made at the Farnborough Air Show in 2008, where Etihad Airways announced firm orders for 100 aircraft, including 45 Boeing aircraft, in a long-term order which was at the time one of the largest in aviation history.
Emirates' Boeing 777X order is the single largest aircraft order by value in the history of US commercial aviation, and the additional A380 order cements Emirates, already the largest operator of this aircraft type, as the principal customer for the A380 world-wide.
These latest orders bring Emirates' total firm order book to 385 aircraft (excluding options or purchase rights), comprising 214 Boeing 777s, 101 Airbus A380s, and 70 A350s, at a total estimated value of US $166 billion.
"Air transport is a key enabler of world trade, and we see that demand for aviation services will continue to grow globally. What we're announcing today is a continuation of our commitment and vision to connect the world through our efficient hub in the Middle East. Emirates' aircraft orders today, with deliveries of the 777X scheduled to start in 2020, will take us to 2025 and beyond - replacing aircraft due for retirement and providing the foundation for future growth," said Sheikh Ahmed bin Saeed Al-Maktoum, Chairman and Chief Executive of Emirates Airline and Group.
"We are honoured by Emirates' commitment to the newly launched 777X and the significant long term boost this provides to US exports and jobs," said Boeing Chairman, President and CEO Jim McNerney. "Emirates has been an integral part of the 777 success story for many years and today operates the largest fleet of 777s anywhere in the world. We look forward to further strengthening our partnership with Emirates and continuing to support Dubai's expansion into a global aviation hub."
"By strategically placing the A380 at the centre of its business, Emirates is maximising its leading position with each day of operations. Emirates has understood from the start the A380's advantages in terms of efficiency, economics and passenger comfort. It has been a true crowd-puller and contributor to the rapid development of Emirates and its Dubai hub," said Fabrice Brégier, Airbus CEO and President. "We value our partnership with Emirates Airline and are pleased to see this getting stronger each day with their A380s flying."
"The announcement today includes the purchase of 300 GE9X engines from General Electric, to power the 150 Boeing 777X aircraft ordered. Taking into account the US Government jobs multiplier (every $1 billion in US aerospace exports supports 5,747 American jobs), today's historic order will protect and support over 436,000 jobs in US aerospace manufacturing - not only at Boeing and GE facilities, but with hundreds of other suppliers," said Sheikh Ahmed. Emirates' 777-8X and 777-9X will be a combination of two and three-class configurations, with the 777-8X potentially seating 342 passengers in 3 classes, and the 777-9X seating over 440 passengers in two classes.