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8 hours ago
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Source: AFP
US President Donald Trump said Wednesday Qatar Airways had placed a "record" bid for 160 planes from Boeing, arsenic helium signed a raft of deals successful Doha alongside Qatar's emir.
The order, which the White House said was Boeing's largest ever for wide-body jets, deepens ties betwixt the US aerospace elephantine and the elephantine Middle East carrier.
Qatar Airways volition grant a "$96 cardinal statement to get up to 210 American-made Boeing 787 Dreamliner and 777X craft powered by GE Aerospace engines," according to a White House information sheet.
"This is Boeing's largest-ever widebody bid and largest-ever 787 order," it said.
Comprehensive details astir the bid were not available. Boeing declined contiguous comment.
The bid represents a triumph for caller Boeing CEO Kelly Ortberg, though analysts noted that the planes won't beryllium delivered for astatine slightest 5 years owed to industry backlogs.
Both Boeing and rival Airbus, which has besides sold extensively to Qatar Airways, person struggled successful caller years with proviso concatenation problems arsenic they person taken thousands of level orders amid beardown hose demand. Boeing has besides been beset with information and labour problems that person constricted output.
Ortberg joined Trump for portion of Wednesday's signing ceremonial that besides included defence agreements and the acquisition by Qatar of American MQ-9B drones, aft astir 2 hours of talks with Qatar's Emir Sheikh Tamim bin Hamad Al-Thani.
"It's implicit $200 cardinal but 160 successful presumption of the jets. That's fantastic. So that's a record," Trump said, adding: "It's the largest bid of jets successful the past of Boeing. That's beauteous good."
The database prices of the 777X and 787 Dreamliner suggest the full worth of the Boeing woody is good nether $200 billion. The $96 cardinal fig successful the White House factsheet besides appears to see immoderate business for GE Aerospace.
Plane backlog
Trump's Qatar sojourn is the 2nd destination of his Gulf tour, aft a archetypal halt successful Riyadh, wherever helium made a astonishment announcement lifting sanctions connected Syria and met the country's president.
Relations betwixt Washington and Doha person been successful the spotlight implicit Qatar's connection to Trump of a $400 cardinal luxury craft to service arsenic a caller Air Force One and past walk into his idiosyncratic use.
Since 2016, Boeing has received 118 gross orders from Qatar Airways and delivered 65 planes to the carrier, according to Boeing's website.
Morningstar expert Nicolas Owens said the bid represents "good news" for Boeing, but noted that it would beryllium years earlier Boeing receives revenues for the jets successful Wednesday's order.
"If you're ordering a level contiguous it's not going to beryllium connected your landing portion for astatine slightest 5 years," Owens said.
Owens said the announcement is besides a "vote of confidence" successful the much-delayed 777X, which is inactive beryllium certified, with Boeing pointing to archetypal deliveries successful 2026.
Ortberg joined Boeing successful August 2024 pursuing a enactment shakeup aft a bid of information and prime power problems. He has focused connected upgrading Boeing's operations nether the adjacent scrutiny of US aerial information regulators, saying improving Boeing's firm civilization volition instrumentality time.
Shares of Boeing roseate 1.6 percent aft midday.
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Source: AFP
