Etihad Orders Additional Boeing 787-9s, 777s in $2.8 Billion Agreement – NYSE:BA

Etihad Airways, Abu Dhabi’s state-operated airline, placed an order of 12 Boeing Company (NYSE:BA) aircraft worth $2.8 billion at list prices in an agreement that would make it the biggest operator of the 787-9 Dreamliner.

The airline placed an order 10 787-9s and two freighter versions of Boeing’s 777 model, the carrier stated in a statement today. Etihad as well has options and purchase rights for 25 more 787s. The 777s will assist the company develop its Etihad Crystal Cargo unit and bring its 777 fleet, counting passenger models, to 21 planes.

Etihad vies with Dubai government-owned Emirates, the world’s biggest airline by international traffic, and Doha-based Qatar Airways Ltd. for travelers crossing the region’s hubs. In 2008, Etihad inked accords to purchase as many as 205 planes, with 100 on firm order, at the Farnborough International Air Show in the United Kingdom.

Orders that Chicago-based Boeing has triumphed this year contain an $18 billion agreement with Emirates for the 777 and a provisional order, worth $21.7 billion at list prices, from Indonesian budget carrier Lion Air for 230 single-aisle 737. That agreement would be a record deal for the US plane-maker.

Together with the acquisition of the 300-seat planes declared today, Etihad will take delivery of 41 787-9s from late 2014 through 2019, and will fly the aircraft primarily to destinations counting Dublin, Frankfurt, Kuala Lumpur, Beijing, Delhi and Istanbul plus Nagoya, Japan, it added.

The order reflects their confidence in the 787’s capability to have a considerable impact on their operating efficiencies.

The Boeing Company (NYSE:BA) reported the gain of +2.51% to close at $71.93 with the overall traded volume of 5.54 million shares. Its total outstanding shares are 734.23 million shares with the market capitalization of $53.46 billion.


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