Fast-growing airline Emirates orders 50 more Boeing 777s in record $18 billion deal

11-14-2011 • Washington Post

Dubai’s fast-growing airline Emirates kicked off the Middle East’s biggest airshow Sunday with a huge order for 50 Boeing 777s, marking the U.S. aircraft maker’s biggest-ever single order in dollar terms.

Emirates and Boeing Co. valued the unexpectedly large deal for an extended range version of the 777-300 at $18 billion — the total by list price — though the carrier is unlikely to pay that much. Airlines typically negotiate big discounts, especially when buying in bulk.

Emirates has an option to buy another 20 777s as part of the order. That would push the deal’s face value to $26 billion.

The deal further establishes Emirates as Boeing’s best customer for the twin-engine 777, a workhorse of the carrier’s long-haul fleet.