Emirates Airline Orders 15 Airbus Jets for $6 Billion -- Update
November 16 2023 - 6:23AM
Dow Jones News
By Mauro Orru
Emirates Airline placed an order worth $6 billion for 15
additional Airbus A350-900 jets, part of plans from the state-run
airline to bolster its fleet of wide-body planes and serve a range
of new markets on long-haul flights amid growing demand for
international travel.
The companies announced the order on Thursday at the Dubai
Airshow, where Emirates earlier this week ordered 95 wide-body jets
from Boeing for $52 billion. The companies didn't disclose
financial details, but buyers typically receive steep discounts in
such orders.
The latest order for Airbus jets lifts Emirates' total A350
order book to 65 aircraft. The first A350 is expected to join its
fleet in August next year, with deliveries stretching until early
2028.
"We plan to deploy our A350s to serve a range of new markets
including long-haul missions of up to 15 hours flying time from
Dubai," said Emirates Chief Executive Ahmed bin Saeed Al Maktoum.
"We will work closely with Airbus and Rolls-Royce to ensure our
aircraft deliver the best possible operating efficiency and flying
experience for our customers."
Airbus is seeing growing demand for its wide-body aircraft, and
last week said it was aiming to produce 10 A350s a month in 2026,
up from a previous target of nine at the end of 2025.
The European plane maker had slashed production of its wide-body
planes early on in the coronavirus pandemic, when travel
restrictions and border closures brought international traffic to a
near standstill. Now, airlines are scrambling for planes to expand
capacity to meet surging demand for international air travel.
Last week, the Dubai-based airline posted a surge in profit and
revenue for the first half of its fiscal year after a summer marked
by strong demand for international travel.
Net profit jumped to $2.6 billion for the six months to the end
of September from $1.1 billion last year. Revenue climbed 19% to
$16.2 billion. The airline carried 26.1 million passengers in the
period, up 31% on year.
During the first half, Emirates restored operations with its
fleet of Airbus A380s to Bali, Beijing, Birmingham, Casablanca,
Nice, Shanghai and Taiwan. By the end of September, the airline was
operating passenger and cargo services to 144 airports, leveraging
its entire fleet of A380s and Boeing 777s.
Emirates competes with the likes of Qatar Airways and Etihad
Airways in the region for connecting passengers on routes to North
America, China, Japan and South Korea, Australia and New
Zealand.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
November 16, 2023 06:08 ET (11:08 GMT)
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