Dubai airshow opens with Emirates' 18-bln-USD

Dubai's state-owned carrier Emirates Airline on Sunday ordered 50 Boeing 777-ER long-range planes worth 18 billion U.S. dollars, the largest dollar-value order in the Chicago plane producer's history. This order came with the already placed order of 40 Boeing 777- ERs, and Emirates also has options to purchase another 20 Boeing 777-300 jets, said Sheikh Ahmed Bin Saeed Al-Maktoum, chairman of Emirates Airlines, at a press at the Dubai International Airshow that kicked off Sunday. If options for an additional 20 Boeing 777-300 ERs are exercised, the total deal will be worth about 26 billion U.S. dollars. "The financing is secured. We finance conventionally as well as with Islamic Bonds," Sheikh Ahmed told the press, "This order is expected to be delivered from 2015 on." "(The) record-breaking dollar value is another milestone for Emirates and affirms our strategy to expand our long haul destinations and continue to excel as a world-leading carrier," said Sheikh Ahmed. The Emirates now has the world's largest fleet of 95 Boeing 777s in service. Two weeks ago, the airliner reported a net profit of 225 million U.S. dollars for the first half of this fiscal year, a 76- percent year-on-year decline. However, Sheikh Ahmed said the airline was poised for further expansion. "We are very confident of the Emirates' growth." This year has seen the Middle East-based carriers, such as Emirates, Qatar Airways and Abu Dhabi's Etihad, expand their routes and fleets to build intercontinental hubs. Etihad, which flies to 86 cities, will add six new destinations including Maldives, Chengdu and Shanghai over the coming six months. Etihad has an existing order of 35 Boeing 787-9 Dreamliners. The Middle East will require 2,520 aircraft with an investment of 450 billion U.S. dollars in the next 20 years to meet the growing demand, Boeing said.