In the presence of the emirate’s crown prince, Emirates $52 billion-worth of aircraft, showing that the carrier, the emirate and the region, are doing just fine.
Dubai’s national carrier Emirates has ordered an additional 90 aircraft from Boeing in a $52 billion mega-deal the entire industry was waiting for today. Announced on day one of the Dubai Airshow, the deal brings Emirates’ total orders to 295 aircraft.
The deal was made in the presence of the emirate’s crown prince, serving as a clear indication of two things: Emirates is doing well and Dubai is doing well.
- x55 777-9 aircraft
- x35 777-8 aircraft powered by GE-9X engines
- x202 GE-9X engines to power the additional 777X aircraft
Sister airline flyDubai also made an order for 30 Boeing 787-9 in its first order for wide-body jets.
Emirates’ Order and Timeline
The core of Emirates Airlines’ operations is built around the versatile Boeing 777 aircraft, which boasts an impressive capability to undertake flights lasting up to 18 hours. This range enables the airline to establish direct connections between Dubai and cities on six continents.
The initial 777-9 aircraft from a prior order is scheduled to become part of the Emirates fleet by 2025. With the latest orders, Emirates is set to receive new 777-9 aircraft and integrate them into its fleet until 2035.
With this new order, Emirates anticipates the arrival of the first 777-8 in its fleet by 2030.
“Emirates Airlines’ business model, from day one, has been to operate modern, efficient wide-body aircraft, capable of transporting large numbers of passengers in comfort and safety, over long distances to, from and through Dubai. Today, our orders are confirmed.” Buying planes again on this strategy,” SAID Sheikh Ahmed bin Saeed Al Maktoum, chairman and CEO of Emirates Airline and the Group at the time of the release.
A Strong Year
Last week, Emirates’ profit soared 134% year-over-year to 9.4 billion dirhams ($2.56 billion) in the first six months of its financial year. Revenue rose 19% to 59.5 billion dirhams.
The business was now “seeing the fruition of our plans to return stronger and better from the dark days of the pandemic,” said the Emirates chairman last week.
He added: “At the same time, we are keeping a close watch on headwinds such as rising fuel prices, the strengthening U.S. dollar, inflationary costs and geopolitics.”