Emirates to buy 40 Boeing 787s, valued at $15.1B


In the presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, signed the agreement with Boeing Commercial Airplanes President and CEO Kevin McAllister on the opening day of the 2017 Dubai Airshow.

Emirates, the Middle East's largest air carrier, has unveiled new, state-of-the-art, first class private suites.

The 544-seat jet entered service amid huge fanfare in 2007, but its future has been thrown into doubt by sluggish sales as airlines turn to efficient smaller jets like the Boeing 777, of which Emirates is also the largest buyer. It has firm orders for another 46 jets.

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The Associated Press quoted Sheikh Ahmed as saying the 787 was "the best option ... given its maintenance and so on".

Airbus, Boeing and Emirates all declined comment.

McAllister said: "We are excited that Emirates has selected the Boeing 787-10 Dreamliner to power its fleet expansion and future growth".

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Dubai's Emirates [EMIRA.UL] may place an order at the Dubai Airshow for 36-38 Airbus A380 superjumbo jets, worth some $16 billion at list prices, a person familiar with the matter told Reuters on Saturday. "Emirates' endorsement of the 787 Dreamliner extends our long-standing partnership and will sustain many jobs in the United States". The Azerbaijan deal carries a list-price value of about $1.9 billion. The carrier already has two 787-8 jets.

The announcement came after a several hours in delays amid rumors about a possible Airbus sale.

Industry sources say at least one of the ex-Singapore jets will be operated by Portugal-based HiFly. The rise in earnings was driven by "capacity optimisation and efficiency initiatives across the company, steady business growth, and a more favourable foreign exchange situation compared to the same period past year", the airline said.

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