At the Dubai Airshow, Emirates announces a purchase of Boeing aircrafts worth £42 billion.

Emirates has opened the Dubai Airshow with a £42bn purchase of Boeing aircraft, showing how aviation has bounced back after the groundings of the coronavirus pandemic, even as Israel’s war with Hamas clouds regional security.

The CEO and chairman of the long-distance airline, Sheikh Ahmed bin Saeed Al Maktoum, revealed an agreement for the purchase of 90 Boeing 777 planes, which consists of 55 777-9 models and 35 777-8s. Additionally, 5 Boeing 787 Dreamliners will also be added to the existing order.

He stated that this is a significant and ongoing commitment that provides employment for hundreds of thousands of individuals, not just at Boeing, but also across the worldwide aviation supply network. The 777 plays a crucial role in Emirates’ plan to establish non-stop connections between cities on every continent and Dubai.

FlyDubai’s budget-friendly counterpart, FlyDubai, has announced the acquisition of 30 Boeing 787-9 Dreamliners, marking the first time the airline will have wide-body aircraft in its fleet. The financial details of the deal were not disclosed, but it marks a significant shift for FlyDubai, which previously operated only Boeing 737s for shorter flights.

The air display scheduled for this year coincides with the current Israel-Hamas conflict and Russia’s aggression towards Ukraine. These ongoing events are expected to have an impact on the five-day show at Al Maktoum Airport in Dubai World Central. This airport is the second one in the city-state, after Dubai International Airport, which holds the title of the world’s busiest for international travel and serves as the headquarters for Emirates.

Although commercial aviation is often the main focus, arms manufacturers also showcase their products at the event. Two prominent Israeli companies, Rafael Advanced Defense Systems and Israel Aerospace Industries, were expected to attend.

Unfortunately, the IAI booth, which displays the motto “Where Courage Meets Technology”, was barricaded and vacant on Monday as attendees flocked to the exhibition. While Rafael’s booth provided coffee, there were no sales representatives present.

On Sunday, Rafael organized a gathering of air force leaders at a posh hotel in Dubai, showcasing the UAE’s efforts to navigate tensions in the Arab world surrounding the conflict between Israel and Hamas.

In 2020, the United Arab Emirates, which is made up of seven sheikhdoms, formed diplomatic ties with Israel.

The aviation industry is experiencing a rapid growth following the COVID-19 pandemic, during which many countries went into lockdown and airplanes were not in use. This was especially evident at Al Maktoum Airport, where Emirates’ A380s were parked for several months.

According to the International Air Transport Association, air travel has reached 97% of its pre-Covid levels. In September, Middle Eastern airlines, which play a crucial role in connecting East and West, experienced a 26.6% surge in traffic compared to the same time last year.

Emirates, a main economic engine for Dubai amid its booming property market, announced record half-year profits of £2.3bn on Thursday. That is up from £1bn for the same period last year, potentially putting the airline on track for another record-breaking year. The airline says it has repaid £2.1bn of the loans it received during the height of the pandemic to stay afloat.

Tim Clark, president of Emirates, told Bloomberg in September to “watch this space” for purchases from Airbus and Boeing during the air show. The airline is hiring new pilots and crew, likely to staff new aircraft.

“We’ve got a lot of big plans for the airline going forward,” Mr Clark said. “New fleet, larger numbers, larger network.”

AP

Source: independent.co.uk