Middle Eastern carriers place orders worth tens of billions of dollars
Middle Eastern airlines placed orders worth tens of billions of dollars for more than 100 passenger jets on the opening day of the Dubai air show, underscoring the rebound in the aviation industry even as regional tensions run high. Emirates, the Dubai-based carrier, placed an order for 90 of Boeing’s 777X aircraft, the world’s largest twin-engined passenger jet, valued at $52b at list prices. Its low-cost sister airline, Flydubai, followed up with an order for 30 Boeing 787-9 Dreamliners, which would be the first widebody aircraft in its fleet, worth $11bn at list prices. The US aircraft maker also picked up a commitment from Royal Jordanian for its 787 jet. The flood of orders comes despite concerns over a fall in demand for air travel in the region due to the conflict between Israel and Hamas. Bookings for flights to the Middle East fell in the three weeks following the Hamas attacks on Israel, dropping from 13% above 2019 levels to 13% below, according to industry data provider ForwardKeys. Sales for flights from the region fell 10 percentage points. Yet demand for the industry’s biggest jets is soaring after a prolonged downturn following the coronavirus pandemic, which severely dented long-haul travel. Much of the demand is expected to be driven by Middle Eastern airlines over the next two decades. Boeing is forecasting that wide-body aeroplanes for long-haul travel will make up 45% of deliveries to the region over the next 20 years — the highest regional percentage worldwide — as it expands into an international transit hub. The US group projects delivery of 3,025 new commercial aircraft in the Middle East by 2042, including 1,350 wide bodies. “The big Gulf carriers continue to believe strongly in the superconnector model and therefore anticipate some growth,” said Edmond Rose, an aviation consultant who works in the region. “If you believe there is going to be growth in air travel because of global economic expansion then those Gulf carriers are still going to be well placed to pick up some of that.”<br/>
https://portal.staralliance.com/cms/news/hot-topics/2023-11-14/general/middle-eastern-carriers-place-orders-worth-tens-of-billions-of-dollars
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Middle Eastern carriers place orders worth tens of billions of dollars
Middle Eastern airlines placed orders worth tens of billions of dollars for more than 100 passenger jets on the opening day of the Dubai air show, underscoring the rebound in the aviation industry even as regional tensions run high. Emirates, the Dubai-based carrier, placed an order for 90 of Boeing’s 777X aircraft, the world’s largest twin-engined passenger jet, valued at $52b at list prices. Its low-cost sister airline, Flydubai, followed up with an order for 30 Boeing 787-9 Dreamliners, which would be the first widebody aircraft in its fleet, worth $11bn at list prices. The US aircraft maker also picked up a commitment from Royal Jordanian for its 787 jet. The flood of orders comes despite concerns over a fall in demand for air travel in the region due to the conflict between Israel and Hamas. Bookings for flights to the Middle East fell in the three weeks following the Hamas attacks on Israel, dropping from 13% above 2019 levels to 13% below, according to industry data provider ForwardKeys. Sales for flights from the region fell 10 percentage points. Yet demand for the industry’s biggest jets is soaring after a prolonged downturn following the coronavirus pandemic, which severely dented long-haul travel. Much of the demand is expected to be driven by Middle Eastern airlines over the next two decades. Boeing is forecasting that wide-body aeroplanes for long-haul travel will make up 45% of deliveries to the region over the next 20 years — the highest regional percentage worldwide — as it expands into an international transit hub. The US group projects delivery of 3,025 new commercial aircraft in the Middle East by 2042, including 1,350 wide bodies. “The big Gulf carriers continue to believe strongly in the superconnector model and therefore anticipate some growth,” said Edmond Rose, an aviation consultant who works in the region. “If you believe there is going to be growth in air travel because of global economic expansion then those Gulf carriers are still going to be well placed to pick up some of that.”<br/>
