Dubai: Emirates, the Arab world's largest airline, signed two orders on Monday at the Farnborough air show worth Dh51 billion ($13.9 billion) for new aircraft and engines.
The Dubai-based airline bought 30 Boeing widebody 777-300ER aircraft worth approximately $9.1 billion at list prices and struck an engine delivery and fleet management deal with Engine Alliance to power its previously ordered 32 Airbus A380s.
The $4.8 billion engine contract includes complete fleet management with GP7200 engines to power the airplanes.
While the rest of the world does business in the shadow of the economic downturn, the carrier has been raking in profits and breaking its own records, despite an industrywide fall in passengers and a natural disaster in the form of the European ash cloud.
His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, yesterday witnessed the signing of the orders.
The plane order was signed 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.
Shaikh Mohammad expressed his pride in the high status and achievements of Emirates that has led it to outshine prominent names in the industry.
"As it celebrates its silver jubilee, Emirates has become a leading player in the world aviation industry after it laid down international standards adopted by major international carriers," Shaikh Mohammad said.
He added that the deal signals confidence in the future of the industry and the resilience of the UAE's economy.
"We have strong belief in the ability of Emirates airline to lead the industry in the region and the entire world over the next years," Shaikh Mohammad said.
Shaikh Ahmad said: "Our latest deal signals Emirates' confidence in the growth of the thriving aviation sector and our commitment to building a modern, environmentally efficient fleet for tomorrow."
Market leader: Total order book
Emirates has aircraft worth more than $59 billion on order. These include:
- 50 A350-900s
- 20 A350-1000s
- 79 A380-800s
- 48 777-300ERs
- 2 777 freighters
- 5 747-8 freighters