Dubai's Emirates Air Orders 150 Boeing 777X Planes Worth $76 Billion: Order Helps Make the Model Largest Product Launch in Commercial Jetliner

The Wall Street Journal

By  Rory Jones

Updated Nov. 17, 2013 10:23 a.m. ET

DUBAI—Emirates Airline on Sunday placed a $76 billion order with Boeing Co. at the Dubai airshow for 150 of the manufacturer's new 777X aircraft, helping make the model the largest product launch in commercial jetliner history.

The Dubai-based carrier, which is the world's largest international airline by capacity, is the biggest scalp so far for Boeing as it is the largest operator of the manufacturer's current 777 fleet, with more than 120 in service.

Qatar Airways, meanwhile, placed an order for 50 Boeing 777X worth $19 billion, and Emirates said it had purchase rights for a further 50 777X.

Earlier on Sunday, Etihad Airways became the second customer to order the 777X, purchasing 25 aircraft in a bulk commitment after Lufthansa  first committed to buy the jet in September. The announcements meant Boeing received almost $100 billion in orders for the 777X, its best launch, according to Boeing Chief Executive James McNerney.

Boeing is expected to begin delivery of the revamped and more fuel-efficient version of the 777 aircraft before the end of the decade.

"This will help Emirates meet its future need competitive with the latest and most efficient aircraft," Sheikh Ahmed bin Saeed Al Maktoum, the airline's chairman, told reporters at a news conference at the Dubai airshow.

Boeing hopes to sell the 777X to many airlines around the world, such as Cathay Pacific Airways Ltd. and International Consolidated Airlines Group SA,  parent of British Airways.

At the same announcement of the launch of the 777X, FlyDubai, the short-haul carrier in Dubai, ordered Boeing aircraft worth $11.4 billion.

Emirates on Sunday said it would order an additional 50 Airbus A380 planes worth $23 billion, taking its total order of the aircraft to 140.

The Dubai-based airline's order book for the A380 now amounts to $45 billion, Sheikh Ahmed said. Emirates is the biggest operator of the larger-body aircraft in the world, which came into service some five years ago.

The additional A380s will be used for new routes and to replace old aircraft, Emirates said.

Source:  http://online.wsj.com