Boeing in $56-bn deal to sell 150 777X planes to Emirates
09 July 2014
Boeing has finalised a deal with Emirates Airline for sale of 150 777Xs aircraft, valued at $56 billion at list prices.
The deal provides for purchase of an additional 50 airplanes by Emirates, which if exercised, could increase the value of the order to about $75 billion, Boeing said in a statement.
The order – a combination of 115 777-9Xs and 35 777-8Xs – also includes purchase rights for an additional 50 airplanes that, if exercised, could increase value to approximately $75 billion at list prices.
"With the order for 150 777Xs, Emirates now has 208 Boeing 777s pending delivery, creating and securing jobs across the supply chain," said Emirates president Sir Tim Clark. "Today Emirates operates more than one in every 10 Boeing 777s aircraft built. We fly 138 of these efficient planes across the globe spanning the USA and Latin America in the west, to New Zealand and Japan in the East.''
He said the planes, expected to be inducted into the fleet from 2020, will offer Emirates operational flexibility in terms of range, more passenger capacity and fuel efficiency.
The 777Xs are capable of seating up to 550 passengers in a single-class configuration, and up to 386 in a typical three-class configuration, and has a range of up to 9,395 nautical miles, according to Boeing.
"We are extremely proud to have Emirates, the world's largest 777 operator, continue its long-standing partnership with Boeing by becoming the largest launch customer for the 777X," said Boeing Commercial Airplanes president and CEO Ray Conner.
The 777X will introduce the latest technologies including the most advanced commercial engine ever – the GE9X by GE Aviation – and an all-new high efficiency composite wing that has a longer span than today's 777. The 777X family includes the 777-8X and the 777-9X, both designed to respond to market needs and customer preferences, a Boeing release stated.
The 777-9X will be 12 per cent more fuel efficient than any competing airplane, necessary in today's competitive environment. The 777-8X is 5 per cent more efficient than its competitor at all ranges while providing for new network opportunities, according to Boeing.
Design of the 777X is underway and production is set to begin in 2017, with he first delivery targeted for 2020. To date, the 777X has accumulated 300 orders and commitments from six customers worldwide, Boeing added
First announced as a commitment at the 2013 Dubai Airshow, the order by the world's largest 777 operator is part of the largest product launch in commercial jetliner history, Boeing added.
Last month, Emirates scrapped a $16 billion order for 70 Airbus (AIR.PA) A350 widebody aircraft.
The 777X, launched at the Dubai Airshow in November, is the latest version of Boeing's best-selling widebody jet, a so-called mini-jumbo, which carries a list price of up to $320 million.