Emirates Airline placed an order for 90 additional Boeing 777X aircraft during the opening of the Dubai Airshow on Monday. The world's largest international airline also added five more Boeing 787 aircraft to its existing order. The total cost of the new wide-body aircraft package exceeds $50 billion based on the published list prices. Sources in the aviation sector had earlier indicated that Emirates and its host, Flydubai, are expected to make their mark early at the second largest aviation event in the world, despite concerns over a slowdown in the economically significant travel sector due to tensions in the Middle East. Sources indicated that this would include a new order for 90 Boeing 777X aircraft, although uncertainty remains regarding the delivery date of the world's largest twin-engine aircraft, which is now expected in 2025, five years after the original schedule. Experts stated that the order will mark a significant milestone in competition coming from Saudi Arabia and the ambitious plans of airlines in Turkey and India. Both Emirates and Boeing refrained from commenting. Sector sources mentioned that another order from Emirates for Airbus A350 aircraft seems to be on hold, with last-minute negotiations focused on engine deal terms with Rolls Royce. Both companies declined to comment.
Demand for the largest aircraft in the sector is increasing, dominating the activity in the region following a long period of cyclical contraction, exacerbated by the significant negative impact of COVID-19 on long-haul travel. The status of negotiations and the level of competition will determine the number of deals completed during the Dubai Airshow, which runs until November 17. Gulf airlines face an expanding circle of competition. Turkish Airlines appeared on the list of participants in the Dubai Airshow on Saturday. Anadolu Agency reported that the company is in talks to purchase up to 355 Airbus aircraft. Sector sources stated that the airline may reveal part of the deal at least today after further discussions. They added that talks are ongoing regarding a total of 600 aircraft, likely to be split between Airbus and Boeing. A source in the Middle East described the potential Turkish orders as a "bold step" that intensifies competition at the show.
Fewer bookings were reported, with sources indicating that Flydubai is set to request more Boeing 737 MAX aircraft for medium-haul routes it operates. The airline has yet to respond to a request for comment. However, other sources suggested it is too early to speculate about Riyadh Airlines making a large order for narrow-body aircraft during the Dubai Airshow. The airline, which hinted at making a decision in the coming weeks, declined to comment. Emirates is the world's largest user of wide-body aircraft, including the Airbus A380 and the current generation of Boeing 777 aircraft. It has announced it is reviewing additional orders for updated 777X aircraft, as well as smaller Airbus A350 and Boeing 787 aircraft. It remains highly unlikely that the Boeing 787 will be showcased at this time. Sources familiar with developments regarding the 777X indicate that more delays seem probable, as Boeing first assesses the impact of tightened project dependency rules. Boeing stated on Friday that there were no changes to its schedules.
Dubai is hosting the biennial airshow amid a war between Israel and Hamas in Gaza, which has led to increased demand for arms and airspace closures, making flights longer and more expensive for some airlines. Travel analytics firm ForwardKeys reported on Friday that flight bookings have declined worldwide since October 7, with reservations to Middle Eastern destinations dropping by 26 percent.
