Boeing projects big Middle East growth; announces huge Emirates deal

   Boeing has forecast that that the Middle East’s fleet of passenger airplanes will grow from a current fleet of 1,040 planes to a projected 2,710 planes by 2030, an increase of 160 percent, the aircraft manufacturer said Monday from the Dubai Air Show.
   On the same day, it tied up a deal with Emirates Airlines for 50 777-300ERs, plus options for an additional 20, a deal worth a potential $18 billion that would be the single largest commercial airplane order in Boeing’s history, by dollar value.
   Boeing said 34 percent of the projected Middle East demand will be for airplanes to replace current aircraft, while 66 percent will be part of fleet expansion plans as the region’s airlines gear up for significant growth over the next two decades.
   “The collective capacity of three airlines, Emirates Airline, Etihad Airways and Qatar Airways has grown by an average of 23 percent annually over the past decade and we expect this trend to continue well into the future,” said Boeing Commercial Airplanes Vice President of Marketing Randy Tinseth in presenting Boeing’s current market outlook at the air show. “All three airlines base their growth strategies on the principle that newer, more efficient airplanes will provide a competitive advantage over their rivals from Europe and Asia.”
   As of Sept. 14, Boeing said it had a backlog of 300 airplanes in the Middle East. Customers in the region count for a large share of Boeing’s twin-aisle backlog, accounting for 26 percent of 777s and 15 percent of 787s on order. Boeing currently has a total of 47 customers in the region that operate an estimated 1,200 flights per day on 425 Boeing airplanes.
   The Emirates deal will add to the Dubai-based airline’s reliance on the 777 aircraft. It is the world’s largest 777 operator, with a fleet of 94 777s through direct purchase and lease, plus additional unfilled orders on backlog for 41 777-300ERs previously on order.
   Meanwhile, Boeing also tied up a deal with Oman Air for six 787 Dreamliners.
   “The Middle East has seen an unprecedented growth in capacity over the past 10 years and every indication points to a further, significantly large increase over the next 20 years,” said Tinseth.