Emirates places $15bn Boeing order

12 November 2017
Emirates Group generated AED2.3bn in first-half net profit

Dubai-based Emirates Airline has made a firm commitment to order 40 Boeing 787-10 Dreamliner aircraft,  worth an estimated $15bn, it said on the first day of the Dubai Airshow on 12 November.

Delivery will start on 2022 and it will replace some aircraft to be retired, according to Ahmed bin Saeed al-Maktoum,  Emirates chairman and CEO.

Emirates did not talk about the expected deal for  a new order of 35 to 40 new A380s on the first day of the event.

Emirates recently received its 100th A380 aircraft, and has 42 more on order.

The carrier has over 200 planes on order  from both Airbus and Boeing worth more than $100bn.

On 9 November, Emirates Airline reported a 111 per cent rise in net profit in the first half of its fiscal year ending March 2018, at AED1.7bn ($452m).

The net profit was made on the back of AED44.5bn in revenue, which is 6 per cent higher compared to the figure reported in the corresponding period last year.

Overall, the Group’s revenue stood at AED49.4bn, with profit reaching AED2.3bn. These are 6 per cent and 77 per cent higher, respectively, compared to figures reported a year earlier.

The positive results are due to capacity optimisation and efficiency initiatives, easing of strong US dollar, and steady business growth, the company said in a statement.

You might also like...

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications