Airplane Manufacturer Boeing Gets Record Order From Emirates

On Sunday Boeing secured the company’s single biggest ever civilian airplane order from Gulf Airline company Emirates. The rapid growth company Emirates declared it would purchase more than fifty twin-aisle planes from the American company.

At list prices, the order for fifty Boeing 777 aircraft is valued at $18bn, a record deal by worth for the American firm. The deal which provides a much-needed boost up for Boeing was announced at the Dubai air show as it was struggling hard against arch rival Airbus which secured a lot of orders this year.

The deal also highlights the dreams of the Dubai-based carrier which is quickly turning into a strong competitor to American, European, Asian and US carriers. Emirates already has a fleet of162 Boeings 777 aircrafts and Airbus’ A380 superjumbos making it the largest operator of Boeing’s 777. Emirates is purchasing 50 Boeing 777-300 ER planes, with 365 passenger seats, and shipments of the aircraft will commence in 2015.

Even though at list prices, the order is valued at $18bn, it is expected that Emirates would pay substantially less since airlines usually get discounts on big orders. The last record single order of $11bn at list prices was secured by Boeing with Air India for sixty eight planes back in 2006. Emirates has optioned for additional twenty Boeing 777-300 ER planes, meaning that the order’s worth could go high to as much as $26bn.

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Leo Pierson

About Leo Pierson

Former partner in a real estate management firm, Leo, has been active in the market for the last 8 years. Ex-blogger on penny stocks, now focused on long term growth stocks, Leo provides valuable market snapshots each day as part of our editorial team.

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