According to experts on Bloomberg TV, the fact that airlines are looking for wide body and volume is likely to continue driving big orders for advanced commercial jets like those that The Boeing Company (NYSE:BA) and Airbus offer.
However, the experts also noted that The Boeing Company (NYSE:BA) appears to be getting several things done, especially with reference to the major order with Qatar Airways. The Boeing Company (NYSE:BA) almost tore rival Airbus apart at the Farnborough Air Show on the third day of the event, escaping the shadow of Airbus that engulfed it on the first two days of the event, outside of London.
The jet maker reported $46 billion in sales, courtesy of a deal with the Qatar Airways that made a major order for Boeing 777X model. The transaction with Qatar Airways saw the airliner doubling its planned purchases of the advanced version of Boeing 777. For Airbus, only one buyer expressed interest in the competing A350 model. That buyer was Air Mauritius.
The Boeing 777X order was first committed in 2013 at the Dubai Air Show. The finalizing of the order makes it part of the largest product launch in the history of commercial jetliner. According to the official statement from The Boeing Company (NYSE:BA), the latest deal demonstrates how the company continues to grow its partnership with Qatar Airways.
“Qatar Airways took delivery of its first 777 a few short years ago, and we are honored to see this partnership continue to grow and strengthen,” remarked Ray Conner, Boeing Commercial Airplanes president and CEO.
The Boeing 777X jet model, a long-range and wide-body jet featuring what stands out as the world’s largest commercial engine, is expected to be introduced by the end of the decade to follow the current and already successful model, Boeing 777.
On the deal with Qatar Airways, which is expected to introduce The Boeing Company (NYSE:BA) to more business opportunities in the Middle East, Conner noted that: “These orders validate the market-leading role that the 777 and now the 777X will continue to play in the Middle East’s passenger and cargo market.”