NEARLY $30 BILLION IN DEALS AGREED ON DAY TWO OF DUBAI AIRSHOW

Etihad, Jet Airways, Emirates and the UAE Ministry of Defence Among the Spenders.

Orders at the Dubai Airshow flowed in thick and fast on Monday, as deals worth almost $30 billion were agreed.

Among those agreeing new purchases at the world’s fastest growing aerospace event were Boeing and Jet Airways, who signed a deal worth approximately $US8billion which will see the manufacturer build 75 new 737 MAX aircraft for the Indian carrier, a partner airline of Abu Dhabi’s Etihad.

Speaking upon the signing of the deal, Jet Airways Founder Naresh Goyal highlighted the need for new aircraft to service a growing customer base, with more than 30 million Indians now overseas and a domestic market predicted to grow to around 140 million passengers in the next ten years.

He said: “We work extremely well and very closely with Boeing and we would like to expand that relationship further. We believe now is the time to take that partnership to new heights.”

Ray Conner, President and CEO of Boeing Commercial Airplanes, added: “This has been a tremendous partnership for well over 20 years now, and it’s a partnership built on trust, friendship and a deep understanding of what’s necessary to be successful in a market that is extremely tough and competitive. These aircraft are the tool with which Jet Airways will compete in a very dynamic market and the 737 Max, we believe, is the right aircraft to enable them to do that.”

Elsewhere at the Dubai Airshow, the UAE Air Force unveiled a deal with Swedish aerospace firm Saab worth US$1.27 billion. The deal will see the UAE purchase two new Global 6000 long-range surveillance aircraft, while a further two Saab 340 jets already in UAE ownership will undergo systems upgrades.

Meanwhile, UAE national carrier Etihad signed a Memorandum of Understanding with Abu Dhabi investment and development firm Mubadala worth a potential US$1billion. The ten-year agreement covers a range of new contracts and would see Etihad appoint Mubadala’s SR Technics as its preferred service provider.

In addition, national carrier Emirates announced the signing of a $16 billion OnPointSM solution agreement with GE Aviation for the maintenance, repair and overhaul (MRO) of the GE9X engines that will power the airline’s fleet of 150 Boeing 777X aircraft over a period of 12 years. This is Emirates’ largest single engine MRO contract to date.

As trading continued on day two of the event, Michele van Akelijen, Managing Director of Dubai Airshow organisers F&E Aerospace, said: “We have always said that the Dubai Airshow is the place for leaders in the aerospace industry to do business. Today’s purchases are proof that continues to be the case in 2015.”

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