Boeing is optimistic about lining up more orders for its new 777X and expects a “broad market” globally for what it claims will be the “world's largest twin-engined aircraft” when it debuts, as air travel demand comes roaring back after the Covid-19 pandemic, the company's chief executive of commercial aeroplanes said.
Emirates signalled its vote of confidence in the long-delayed programme with an additional order of 90 of the 777X planes on the first day of the Dubai Airshow on Monday.
The Dubai airline dominates the order book for the aircraft.
“I'm very confident in the long-term success of the product itself, that's why we invested in it and even during Covid we launched a freighter version of it … we see a broad market for this, it will be the ultra-big plane of the future and that serves a unique role,” Stan Deal told The National on the sidelines of the Dubai Airshow.
“I'm not concerned about where the orders are coming from. We're quite confident about the long-term success at Emirates and our other launch customers,” Mr Deal said.
“I am very hopeful for orders, but at the same time, you accrue some orders before you launch a new plane and ultimately when it’s out in the market performing, you see more orders follow through.”
Boeing won orders for 125 wide-body aircraft worth about $63 billion from Emirates and its sister airline flydubai on the opening day of the Dubai Airshow on Monday.
The jet orders from Middle Eastern airlines at Dubai's biennial air expo sent Boeing shares up 4 per cent at market close on Monday.
Demand for the aviation industry's largest planes that have dominated the fleet of the region's biggest carriers is recovering after a long cyclical downturn followed by the damaging effect of the pandemic on long-haul travel.
Boeing forecasts that wide-body aeroplanes will comprise 45 per cent of deliveries to Middle East airlines over the next 20 years, the highest percentage of the 10 global regions it features in its annual Commercial Market Outlook.
Boeing projects delivery of 3,025 new commercial aeroplanes in the Middle East by 2042, including 1,350 wide-bodies.
The 777X is still slated for delivery in 2025, Mr Deal said, without specifying when during the year. It was originally expected to debut in 2020.
Emirates has previously criticised the US aircraft manufacturer for the delays to its 777X programme, which the airline warned would hamper its complex fleet plans.
“There’s no doubt there was some disappointment with not getting the product to market as we promised and in the course of working through that, we were able to give Emirates the status very frequently of how we're progressing,” Mr Deal said.
Emirates' new order comes amid a broad recovery in travel demand globally, he said.
“No doubt the world has recovered and it recovered much faster and in Emirates' view they needed to be in a position to secure their growth so it's a combination of trust and market recovery,” Mr Deal said.
The certification process for the aircraft with the US Federal Aviation Administration is “running well, there's good harmonisation with our regulators as we move forward, we're delivering the deliverables”, he said.
Israel-Gaza war impact
The Israel-Gaza war has not yet dented confidence in travel demand or the appetite for new jets, the Boeing executive said.
“We haven't seen any residual effects yet in terms of discussions directly with customers,” Mr Deal said.
“We're hopeful that the conflict is short-lived and the peace process moves ahead, but the short answer is that there is no signs of a slowdown.”
Boeing secured a deal in March for 787 Dreamliners with Saudi Arabian start-up Riyadh Air, which has also finalised a soon-to-be-announced order for narrow-body jets.
“We are absolutely putting our best forward to both Riyadh Air and Saudia on the narrow-body campaign, which is active,” Mr Deal said.
Boeing is confident about market growth in the Middle East, particularly for wide-body aircraft, as its carriers connect East and West via their regional hubs, he added.
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Biography
Favourite book: Zen and the Art of Motorcycle Maintenance
Holiday choice: Anything Disney-related
Proudest achievement: Receiving a presidential award for foreign services.
Family: Wife and three children.
Like motto: You always get what you ask for, the universe listens.
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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KILLING OF QASSEM SULEIMANI
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
