Come fly with me
Boeing’s share price soared some 6% this week, after it secured a whopping $52 billion deal with Emirates for 95 of its aircraft — with the Eastern airline’s low-cost sister carrier, FlyDubai, ordering a further 30 Boeing 787-9 Dreamliners in an $11 billion purchase — all on the Dubai Air Show’s opening day.
Not to be outdone, Airbus, the European half of the aviation industry duopoly, is eyeing a potentially record-breaking deal of its own, as Turkish Airlines is reportedly considering buying 355 planes.
The mammoth deals suggest continued optimism from airlines in the resurgence of air travel after the pandemic, with the two companies shedding $193bn in market cap in a single month during the most uncertain early days of the pandemic. For Boeing specifically, the deals are also a much-needed continued restoration of confidence in its planes, following two major crashes in 2018 and 2019 involving the 737 MAX, in which a total of 346 people lost their lives.
Can I see a menu?
Every two years, anyone who is anyone in the industry gathers in Dubai for a five-day whirlwind tour of the aviation industry's latest, greatest innovations and products. Similar in nature to other major air shows in Paris and Farnborough, commercial giants Airbus and Boeing take center stage, with each showing off their latest aircraft in a bid to win orders from airlines looking to bolster their fleets.
Arms manufacturers also attend the air show — a presence that’s taken on a more solemn meaning given the ongoing violent conflicts around the world.
