With a $52 billion acquisition of Boeing Co. aircraft, long-haul airline Emirates kicked off the Dubai Air Show, demonstrating how aviation has recovered from the coronavirus outbreak, despite Israel’s conflict with Hamas casting a shadow over regional stability.
The low-cost airline FlyDubai then placed an order for thirty Boeing 787-9 Dreamliners, the first wide-body aircraft in its fleet, for $11 billion. Together, the two sales gave the Virginia-based Boeing Co. a big victory right out of the gate on the first day of the air show, and it looks like airlines will be closing even more billion-dollar deals this year.
At a press conference on Monday afternoon, Emirates made the announcement in front of Sheikh Hamad bin Mohammed Al Maktoum, the crown prince of Dubai. Sheikh Ahmed bin Saeed Al Maktoum, the CEO and chairman of Emirates, said that the airline will buy 90 Boeing 777 aircraft, 35 of which will be 777-8 models and 55 of which will be 777-9 variations.
In addition, Sheikh Saeed stated that Emirates will increase its order of 30 aircraft by five 787 Dreamliners.
“This is a sustained dedication that upholds hundreds of thousands of jobs, not only at Boeing but also across the worldwide aviation supply network,” he declared. “Emirates’ plan to connect cities on all continents nonstop to Dubai is centered on the 777.”
Boeing Executive Vice President Stan Deal commended the agreement.
The deal stated, “All of these products indicate Emirates’ future.”
Officials from Emirates emphasized that FlyDubai’s order was distinct from the long-haul airlines. For FlyDubai, which has exclusively operated Boeing 737 single-aisle aircraft on shorter trips up to this point, it signifies a significant shift.
In contrast to past Dubai Air Shows, Deal, and Sheikh Saeed departed the press conference without accepting questions.
This year’s air show at Al Maktoum Airport in Dubai World Central will probably be impacted by the ongoing wars in Russia and Israel as well as the conflict between Israel and Hamas. The event runs for five days. It is the city-state’s second airport after Dubai International Airport, which serves as Emirates’ home base and is the busiest airport worldwide for international travel.
The majority of the focus is on commercial aircraft, although there are also exhibits from arms manufacturers at the expo. Israel Aerospace Industries and Rafael Advanced Defense Systems Ltd., two significant Israeli companies, were supposed to take part.
However, as crowds flooded into the event on Monday morning, the IAI stand—emblazoned with the tagline “Where Courage Meets Technology”—was cordoned off and deserted. There were no salespeople there but coffee was distributed by a stand representing Rafael. An attendant was asked to comment, but she did not respond right away.
Laptops 100Rafael also supported an air force chiefs’ gathering on Sunday in an opulent hotel in Dubai, emphasizing the delicate balancing act the UAE is performing in the face of Arab outrage over the Israel-Hamas conflict.
In 2020, Israel and the United Arab Emirates, a federation of seven sheikhdoms, established diplomatic ties.
The company Russian Helicopters, which was sanctioned by the United States and other countries for Moscow’s invasion of Ukraine, stated that staff members would be there for the air show after they had attended the arms fair in Abu Dhabi earlier this year. The Russian national space enterprise, ROSCOSMOS, is also present at the event.
A reporter saw Gen. Khalifa Hifter at the exhibition, who is in charge of the east and south of that North African country and leads the self-declared Libyan National Army.
Following the coronavirus pandemic, which resulted in widespread lockdowns and grounded planes, the world’s aviation industry is seeing a boom, especially at Al Maktoum Airport, which for months was used as an Emirates double-decker Airbus 380 parking lot.
The International Air Transport Association reports that, as of right now, air traffic is 97% of what it was before COVID-19. According to IATA, September traffic for Middle Eastern airlines—which provide vital East-West routes for international travel—rose by 26.6% when compared to the same month last year.
In the midst of Dubai’s soaring real estate market, Emirates is a major economic driver. On Thursday, the company reported record half-year profits of $2.7 billion. This puts the airline on course for yet another record-breaking year since it represents an increase from $1.2 billion for the same period last year. The airline claims that, in order to survive, it has returned about $2.5 billion of the loans it took out during the pandemic’s peak.
A new Saudi carrier, Riyadh Air, is also in the market for planes as part of the trillions of dollars in anticipated spending in the kingdom. The airline declared aspirations to grow in March and placed an order for up to 72 Boeing 787-9 Dreamliners.
According to the state-run Anadolu news agency, Turkish Airlines may also make a record-breaking acquisition of 355 aircraft from Airbus, including 250 A321neo aircraft.
On Monday afternoon, SunExpress a Turkish Airlines and Lufthansa joint venture, committed to buying up to ninety Boeing 737 MAX single-aisle aircraft, according to a statement released by Boeing Co. In addition to the possibility of purchasing an additional 45 Boeing 737 MAX aircraft, the transaction comprises 28 Boeing 737-8 and 17 Boeing 737-10 planes. The businesses did not provide a deal’s total value.
