Middle Eastern carriers go on shopping spree at Dubai air show

Middle Eastern airlines ordered more than 200 passenger jets at this year's Dubai Airshow, putting the annual purchase volume on pace to be the largest in a decade after pandemic lows. Dubai-based Emirates has ordered 90 wide-body Boeing jets in the 777X series, plus five units of the Boeing 787. From Airbus, Emirates ordered 15 A350 wide-body planes. The 777X planes, which are slated to begin commercial operation in 2025, are Boeing's newest passenger jets. "The 777 has been central to Emirates' fleet and network strategy of connecting cities on all continents non-stop to Dubai," said Ahmed bin Saeed Al Maktoum, chairman and CEO of Emirates, in a news release. Emirates is keen on expanding routes using fuel-efficient 777X aircraft. The airline's orders with Boeing are worth $52b. At the air show, which began Monday, low-cost carrier Flydubai ordered 30 Boeing 787s. Egyptair purchased 10 A350s and Turkish-domiciled SunExpress is procuring up to 90 units of the narrow-body 737 Max jet. Turkish Airlines and Saudi Arabia's newly founded carrier Riyadh Air are in talks for major purchases as well. Boeing and Airbus have received orders for a total of more than 400 planes from the Middle East in 2023 -- the highest level in a decade. They also received orders for about 400 aircraft in 2013. But orders declined after crude oil prices slumped in 2014 and 2015 and the COVID-19 pandemic hit in 2020 and 2021. Such airlines as Emirates, fellow United Arab Emirates carrier Etihad Airways and the state-run Qatar Airways have enjoyed rapid growth in recent decades. They have taken advantage of the Middle East's central location between Asia and Europe to build hubs that capture transit demand -- attracting people, goods and money to their home countries in the process. In Saudi Arabia, Crown Prince Mohammed bin Salman is pushing to diversify its oil-dependent economy in part by increasing inbound tourism. <br/>