After taking a beating from Airbus in the narrow body market through the first half of the year, Boeing has been able to amass a similar dominance in the wide body market after landing an order from Emirates for 50 777’s with and option for 20 more.
According to The USA Today, the order is the largest commercial order in terms of dollar amount that Boeing has ever received and is a reflection of the dominance of the 777 in general over the last fifteen years.
The order is worth $18 billion at list price but could be worth $26 billion if Emirates eventually purchases the additional 20 aircraft. While Boeing and Airbus have seen an uptick un orders following the economic collapse of 2008, the Middle East in particular, led by Emirates, has been a strong market for the two plane makers.
The deal further establishes Emirates as Boeing’s best customer for the twin-engine 777, a workhorse of the carrier’s long-haul fleet.
Emirates has 95 777s in service and already had another 40 on the order books. That means it now has nearly as many of the twin-aisle planes on order as it operates.
“The 777 has really served Emirates very well in terms of the seat cost, especially when we see that the fuel price today is very high,” Emirates Chairman and CEO Sheik Ahmed bin Saeed Al Maktoum said in announcing the deal.