Boeing wins $9b order from UAE
FARNBOROUGH, UK (Bloomberg) — Boeing Co., the world's second- biggest plane maker, said it won an order for 45 widebody aircraft from Etihad Airways, the national airline of the United Arab Emirates, worth about $9 billion at list prices.
Etihad will buy 35 787 Dreamliner planes and 10 777s, the carrier and Chicago-based Boeing said yesterday at the Farnborough International Air Show outside London.
Etihad, based in Abu Dhabi, and Emirates of Dubai are buying planes as their government owners use oil revenue to build up business and leisure hubs. Arab airlines may almost double their combined fleet to 900 planes by 2015, according to a regional trade organisation.
"The order gives us the ability to grow the airline," James Hogan, the carrier's chief executive officer, said at a press conference. "It reflects the strength and pace of economic growth in the emirate and the integral role Etihad will play."
All 45 planes purchased by the airline yesterday were already on Boeing's books, with the buyer listed as unidentified. Etihad also has options for 25 more 787s and ten 777s, plus purchase rights for ten 787s and five 777s.
Engines from General Electric Co. will power the 777s, Etihad said. The company is still considering choices for which manufacturer will power the 787s.
Emirates, Etihad and Qatar Airways were among the biggest customers last year for Boeing and Toulouse, France-based Airbus SAS, the biggest planemaker.