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Abu Dhabiis a long distance carrier Etihad Place an order for 16 airbus The aircraft on Tuesday is part of efforts to expand as its economic situation improves.
The order includes six A330-900, seven A350-1000 and three A350F freighters, both companies said at a news conference. He did not offer a cost for the deal. Airlines often negotiate lower prices in major orders.
Etihad projects record profit of $476 million in 2024, part of a financial turnaround for the Abu Dhabi-based airline. While that’s still a modest profit compared with rival Emirates’ record profits of $5.2 billion in the last financial year, it’s a huge turnaround for Etihad.
Abu Dhabi’s rulers launched Etihad in 2003 to take on the established Dubai Government-owned carrier Emirates, which boasts a large fleet and far-flung network.
Etihad struggled with its business plan and had to take cost-cutting measures even before the coronavirus pandemic hit. Since 2016, Etihad has lost about $6 billion as it has aggressively bought stakes in airlines from Europe to Asia to compete against Emirates and Qatar Airways.
On Monday, Emirates ordered 65 of Boeing’s upcoming 777-9 aircraft for $38 billion at list prices.
Emirates President Tim Clark again acknowledged to reporters on Tuesday that Boeing is facing delays in delivering the 777-9 to customers. However, he said he believed Emirates’ larger purchase could also draw attention from President Donald Trump’s White House and push the manufacturer to complete the plane.
“I’m sure the White House will be counting on Boeing to make sure that this all works and that they can get things out the door as quickly as possible, because that means jobs for everyone,” Clark said. “Especially 9X is going to be built in Seattle, so this type of workforce in the Northwest is almost secure for decades.”
Clark also acknowledged that Emirates and its low-cost sister airline flydubai will be able to rapidly expand their routes with the new aircraft when the Sheikhdom expands Al Maktoum International Airport into Dubai World Central, where the air show takes place.
Dubai plans a $35 billion project to expand to five parallel runways and up to 400 aircraft gates, to be completed within the next decade.
“We’ll be able to reach any point on the planet,” Clark said.