Emirates announces an order of 65 Boeing 777-9s with list price of $38 billion at Dubai Air Show

DUBAI, United Arab Emirates (AP) – The biennial Dubai Air Show opened on Monday with hometown airline Emirates ordering 65 of Boeing’s upcoming 777-9 aircraft, as the carrier looks to increase its fleets off record earnings and unending demand for flights through this East-West travel hub.

Emirates valued the deal with Boeing and GE Engines at $38 billion at list prices, although airlines often negotiate lower prices in major orders.

The announcement brings the total of Boeing 777-9s on order for Emirates to 270, making it Boeing’s largest customer for the aircraft, even as the plane has suffered repeated delays in entering service. Emirates relies heavily on the double-decker Airbus A380 and the Boeing 777, and has also started flying the Airbus A350.

“It’s a long-term commitment that supports hundreds of thousands of high-value factory jobs, and it reinforces our 40-year partnership with Boeing and GE,” said Sheikh Ahmed bin Saeed Al Maktoum, the chairman and chief executive of Emirates.

“Emirates is already the world’s largest operator of the 777 – all powered by the GE engines – and after today’s order, I expect to remain the biggest 777 operator for the years to come.”

Sheikh Ahmed added that Emirates continued to encourage manufacturers to build larger aircraft with more capacity as air travel is only expected to grow. However, he smiled and looked at Boeing when putting forward his hoped-for timeline for putting the 777-9 in service for Emirates.

“We look forward to receiving delivery of our first 777-9s starting from the second quarter of 2027,” he said.

Stephanie Pope, president and CEO of Boeing Commercial Airplanes, offered no timeline for the plane’s entry to service in her brief remarks.

“The 777-9 will further support Emirates mission to connect people and places around the globe like never before,” she said.

The officials took no questions from journalists after the announcement.

Meanwhile, Boeing announced a firm order of 11 Boeing 737-8 MAX aircraft by Ethiopian Airlines and Air Côte d’Ivoir made a firm order of four Embraer E175 aircraft. Air Senegal later ordered nine Boeing 787-8 MAX aircraft as well.

The air show will also see renewed interest in flying taxis, something the sheikhdom long has promised and now hopes to deliver on next year. Military sales as well remain a focus, with Russia again taking part despite facing Western sanctions over its grinding, yearslong war on Ukraine. Meanwhile, Israeli firms won’t be attending over lingering anger from the devastating Israel-Hamas war in the Gaza Strip.

Emirates, the state-owned flagship airline of Dubai, earned annual profits of $5.2 billion in the last fiscal year and passenger numbers remain record-breaking at Dubai International Airport, the world’s busiest for international travel. The airline made a $52 billion purchase of Boeing Co. aircraft at the 2023 edition of the air show, which takes place at Al Maktoum International Airport at Dubai World Central.

FlyDubai, the lower-cost sister to Emirates, also has seen record-breaking earnings, and likely wants to expand its fleet of single-aisle aircraft. The airline currently flies 95 Boeing 737 variants, with Airbus wanting to break into the carrier’s fleet. FlyDubai ordered $11 billion worth of 30 Boeing 787-9 Dreamliners at the last air show, which when delivered will be the airline’s first wide-body aircraft.

Al Maktoum airport itself is on the agenda for Dubai’s government. It plans a $35 billion project to expand to five parallel runways and 400 aircraft gates, to be completed within the next decade. The airport now has just two runways, like Dubai International Airport. Those additional slots coming online will help Emirates and FlyDubai grow their network, and require more aircraft to fly those routes.

Meanwhile, Rosoboronexport, Russia’s main arms exporter, displayed its aircraft and weapons systems at a massive pavilion at the far end of the air show. The UAE has maintained economic ties and flights to Moscow despite the war on Ukraine and Western nations levying heavy sanctions on the country.

Rosoboronexport showcased a stealth fighter, the Sukhoi Su-57, and the full-scale Pantzir-SMD-E surface-to-air missile system. Air defense systems have taken on a new importance in the Mideast after Qatar came under attack by both Israel and Iran this year. Iran also saw its systems devastated by Israel in a 12-day war between the countries in June.

Underscoring the UAE’s ties to Russia, the Emirati president and ruler of Abu Dhabi, Sheikh Mohammed bin Zayed Al Nahyan, walked through the Russian pavilion first thing on Monday. He stopped to watch a short video with graphics of a Russian drone striking an armored vehicle. Sheikh Mohammed, himself a helicopter pilot, walked up the stairs to look in the cockpit of the Su-57 as well.

Earlier, U.S. fighter pilots from the 55th Fighter Squadron, which flies F-16 Fighting Falcons, stopped to look at the Su-57.

Asked if they thought they could shoot it down, one airman smiled and just said: “It looks cool.”