Emirates purchases 65 Boeing jets for $38B
What's the story
Emirates has placed a massive order for 65 Boeing 777X aircraft in a deal worth $38 billion. The agreement was signed on the first day of the Dubai Airshow, marking a major endorsement for the US plane manufacturer. Under the contract, deliveries of these much-anticipated planes are expected to begin in Q2 2027.
Fleet expansion
Emirates expands its Boeing fleet
Emirates, already the largest customer for the Boeing 777, has further expanded its order book. The airline now has a total of 270 777X aircraft on order, including the new order of 65 planes, along with 10 freighters and 35 Boeing 787s. The new deal also includes an order for GE9X engines from General Electric.
Order assurance
CEO addresses concerns over aircraft backlog
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Group, addressed concerns over the airline's huge backlog of aircraft orders. He said, "Some people may have doubts about Emirates's huge backlog of aircraft orders," but assured that "each and every aircraft on order has been carefully factored into Emirates's growth plans."
Financial health
Financial performance and fleet refurbishment
Emirates, which is wholly owned by the Dubai government, is the world's most profitable airline. The company reported half-year profits of $2.9 billion earlier this month. However, the delivery delays have forced Emirates to refurbish much of its existing fleet including Airbus A380s that are now out of production.