Finance

Emirates in massive aircraft acquisition, stakes $9 bn for 30 B777 planes

Kenneth Ehigiator
Emirates Airlines has placed an order with Boeing for an additional 30 units of B777-300ER aircraft worth approximately $9.1 billion.

The new order, placed at the Farnborough Air Show in the United Kingdom, adds to the fleet of the airline’s 71 aircraft type previously ordered, of which 53 aircraft are currently in service.

His Highness (H.H.), Sheikh Mohammed bin Rashid Al-Maktoum, Prime Minister and Vice President of the United Arab Emirates (UAE) and ruler of Dubai, witnessed the signing of the deal

The agreement was signed between H.H. Sheikh Ahmed Bin Saeed Al-Maktoum, Chairman and Chief Executive, Emirates Airline and Group and Jim Albaugh, President and CEO of Boeing Commercial Airplanes.
Emirates Group senior executives, including Maurice Flanagan, Executive Vice Chairman Emirates Airline & Group; Tim Clark, President Emirates Airline and Gary Chapman, President Group Services and Dnata, were also present at the event.
“Emirates’ is the world’s largest operator of 777s and this latest order, affirms Emirates’ strategy to become a world leading carrier and to further establish Dubai as a central gateway to worldwide air travel.

“Our latest deal signals Emirates’ confidence in the growth of the thriving aviation sector and our commitment to building a modern, environmentally efficient fleet for tomorrow,” said Al-Makhtoum.

The 777-300ER will be operated in a three-class configuration with eight First class suites, 42 Business class seats and 310 Economy class seats and offers an additional cargo payload of 20.1 tonnes. Emirates has 86 777s in service – three -200s, six -200ERs, 10 -200LRs, 12 -300s, 53 -300ERs and two freighters.

“Emirates is today one of the world’s leading airlines, thanks in part to the 777. Its ambitious expansion plans have established itself as a global force in the aviation sector.

“Emirates’ has played an important role in the 777’s success with its significant support of the program and valuable feedback over the years. Today’s order serves to underscore the airline’s confidence in the airplane, which forms the mainstay of its fleet,” said Jim Albaugh, President and CEO of Boeing Commercial Airplanes.