$18bn order for 50 Boeing 777s from Emirates largest in history
Posted on 13 November 2011 with 1 comment from readers
Emirates Airline flew into the aviation history books again today with an $18 billion order for 50 Boeing 777 aircraft, the largest ever single commercial plane order, plus options on a further 20 of the same aircraft.
The announcement at the Dubai Airshow followed some disappointing recent profit figures from the airline (click here) but its ambitious expansion plans are clearly still flying high.
‘We have an ambitious and strategic plan to continue growing our international network and especially increasing our long-haul, non-stop routes. This order supports our fleet expansion and reiterates our commitment to operating a modern fleet for the benefit of our passengers and to ensure operational efficiency as well,’ said chairman Sheikh Ahmed bin Saeed Al Maktoum.
Largest 777 fleet
Emirates already has 97 of the 777s, the largest fleet in the world, and a backlog of 41 on order. Rival Gulf airlines are also expected to announce new plane orders this week but none will match the scale of Emirates’ latest deal.
It is reminiscent of the giant order for A380 superjumbos ten years ago just weeks after the 9/11 tragedy, a reminder of just how long Emirates Airline has been growing at this sort of pace, gradually overtaking the legacy airlines of the industrialized countries that typically have higher labor and operating costs.
Emirates also effectively ringfenced itself at the time of the Dubai debt crisis two years ago, despite being 100 per cent owned by Dubai Government and has no difficulty raising finance for its fleet expansion against its strong cash flow.
1 Comment posted by readers:
Great news for the airline indeed, and I am glad to learn about it through ArabianMoney.net.
Personally, I cannot wait to see the first Emirate aircraft land at El Dorado Airport, in Bogota, Colombia, especially when the new mega-facility opens. The El Dorado International Airport (-so named after the legend of El Dorado; Colombia, being a nation rich in gold, and the true origin of the famous myth) will soon be the largest and busiest terminal in all of Latin America.
Nothing will make me happier than to see businessmen between the Middle East and Colombia growing their businesses together. After, all, Colombia is not only the most dynamic, stable democracy in the region, but with its high-growth emerging economy (that is also a major oil exporting nation) Colombia is one of the few nations on the planet that has it all, and it is bound to soon be recognized as the MOST strategic Western ally for the Middle Eastern economies.