Britain's Red Arrows aerobatic team performed over the Dubai Airshow, which started yeserday but the big news was the plethora of new jet orders inked by various Middle East airlines at the 13th Dubai Airshow.
Boeing announced orders for 342 aircraft valued at $100 billion so far on the first day of the show. Dubai-based high-end Emirates Airline ordered 150 Boeing new B777X jets worth $55.6 billion. Qatar Airways ordered 50 B777X jets. Abu Dabai's Etihad Airways ordered 450 B777X jets and 30 B787 Dreamliners. UAE's budget Air Arabia and FlyDubai airlines have expanded their operations. FlyDubai ordered 100 B737 Max8 jets and during this year launched 16 new locations, including Russia and Moldavia.
Boeing had estimated the Middle East could be a $550 billion market for new planes, expecting airlines in the region to require more than 2,600 planes over the next 20 years. Its new B787 and 777X aircraft would account for over half of sales in the region, with single-aisle airplanes like the B737 being 47% of new orders expected.
Airbus got a 50 jet order for its A380 superjumbo, the first order of this year for the double-decker.
American engine builder General Electric inked orders with Emirates, Qatar Airways and Etihad Airways for 450 new GE9X engines for use in the B777X, amounting so far up to $26 billion worth of high-thrust jet engines and services.
The Middle East is a good stopover hub for airlines flying from London or Paris to Sydney, for example, with operational cost savings and many foreign workers fly back to the Philippines, India, Sri Lanka and Pakistan. Airlines with a Middle East stop can carry less fuel per plane and translate that to more paying passengers. This fast growing region is taking new airplane orders at the expense of orders elsewhere-especially from Europe and Asia. The Dubai Airshow runs through this Thursday, the 21st of November.