Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Emirates announces $16 billion order for 50 Airbus A350 planes

Published 11/18/2019, 06:21 AM
© Reuters. An Airbus A350 takes off at the aircraft builder's headquarters in Colomiers near Toulouse
BA
-
AIR
-

DUBAI (Reuters) - Dubai state-owned airline Emirates said on Monday it had placed a firm order for 50 Airbus (PA:AIR) A350 jets worth $16 billion at list prices.

"Together with the A380, the A350 will give us more capacity and flexibility. We will be able to expand to new markets with these aircraft," Emirates Chief Executive Officer Ahmed bin Saeed Al Maktoum said at the Dubai Airshow.

The deal signed at the show marked a final and amended version of a tentative deal for 40 A330neo aircraft and 30 A350 jets, which has been pending since the start of the year.

"The new aircrafts are less noisy and provide us with a lower carbon footprint," Al Maktoum said, adding that he expected the first A350 jets' delivery in 2023.

The world's top jetmakers have been trying to win final approval for more than $30 billion in orders from Emirates on ice for up to two years as the airline complains about manufacturing delays and performance issues.

Airbus Chief Executive Officer Guillaume Faury said: "This order is a very strong endorsement of the A350 planes with the latest technology."

Emirates, however, said it was no longer considering the A330neo at this stage.

Faury said: "I don't know what it means for A330 for Emirates. But the A330 remains relevant for others. Customers from different regions are supportive of new orders for this aircraft."

© Reuters. An Airbus A350 takes off at the aircraft builder's headquarters in Colomiers near Toulouse

Emirates said it was still in negotiations with Boeing (N:BA) on the fate of a provisional order for 40 of the U.S. planemaker's 787 Dreamliners.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.