Emirates confirms confidence in travel market with $15bn fleet deal

Print Article E-Mail Article

By Martin Moodie

In the most emphatic statement of faith in the travel market since the events of September 11, Middle Eastern carrier Emirates has announced a record $15bn aircraft order.

Underlining its confidence in the long-term future of Dubai and air travel, the airline said it is acquiring 25 Boeing 777s, 22 Airbus A380s, eight Airbus A340-600s and three A330s by the end of the decade.

Emirates' initial order, signed at Britain's Farnborough Air Show in July 2000 as a Letter of Intent, was for seven A380s , making it the world's first airline to commit to the A380. It has now added a further 15 A380s to give it a total fleet of 22 firm orders, valued at $7bn plus 10 options, 25 new Boeing 777s in two versions and valued at $6.6bn, eight A340-600s valued at $1bn, and three A330s valued at $415m. This will boost Emirates' total fleet to 100 by the year 2010.

His Highness General Sheikh Mohammed bin Rashid al Maktoum commented: "Our country stands four-square at the crossroads of the world, and has transformed itself into a major player on the global stage. Our goal now is to expand its dynamic growth into every area of commerce, tourism and transport.

"Our unwavering aim is to make this the best place to do business, the top tourist destination and transport hub of the region and the undisputed commercial and communications capital of the Middle East. This record-breaking aircraft order is a key component in this charismatic strategy.

"Huge commercial projects are under way. Massive housing developments are rising from the sands. Two huge offshore islands visible from space will double our coastline. Dubai airport will grow to handle five times the 14m passengers a year it sees today. We are not content simply to wait for the future-we are building it."

Emirates' chairman HH Sheikh Ahmed bin Saeed Al-Maktoum said: "The timing of this order, hard on the heels of recent events, is no coincidence. We are determined not to allow present difficulties to deflect our resolve."

The deal will come as a great boost for Emirates buoyant in-house inflight duty-free department and the already thriving airport duty-free operations in the UAE at Dubai and Abu Dhabi.