The world’s largest airline by international traffic wants 115 400-seat 777-9Xs and 35 smaller 777-8Xs. The deal, first announced in November, is the largest single order in aviation history.
The order is worth $56 billion at list prices, but airlines get large discounts so the real price is likely around $31 billion, according to data from aircraft valuation firm Avitas.
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The deal for 115 400-seat 777-9Xs and 35 smaller 777-8Xs firms up a commitment announced last year and comes with an option for 50 more aircraft taking its value to $75 billion at list prices, Dubai-based Emirates said in a joint statement with Boeing.
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The first aircraft are due for delivery in 2020.
The largest single order in aviation history positions Emirates as lead operator of the first twin-jet able to haul a jumbo’s payload, aided by a revamp with new General Electric engines and Boeing’s largest-ever wing.
The Gulf carrier, the No. 1 operator of both the current-generation 777 and Airbus A380 superjumbo, is splurging on capacity as it builds Dubai into the leading hub for long-haul transfer flights.
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The 777X order was initially announced at the Dubai Air Show in November, and is being firmed up days before next week’s Farnborough expo outside London.
While financing options haven’t been announced, some U.S. carriers led by Delta Air Lines have protested government-backed competitors, including Emirates, receiving loan guarantees from the U.S. Export-Import Bank, which helps foreign companies buy American goods. Atlanta-based Delta has said the bank’s charter should expire at the end of September unless the 80-year-old lender drops its support for such purchases of widebody jets.