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His Highness Sheikh Mohammed Bin Rashid Al Maktoum,
Vice-President and Prime Minister of the UAE and Ruler of Dubai, on
Sunday inaugurated the Dubai International Airshow 2011 at the Dubai
Airport Expo Centre.
Also present were General Sheikh Mohammed Bin Zayed Al Nahyan, Crown
Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed
Forces, Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince
of Dubai and Chairman of Dubai Executive Council, Sheikh Maktoum Bin
Mohammed Bin Rashid Al Maktoum, Deputy ruler of Dubai and Chairman of
the Dubai Technology and Media Free Zone Authority, Crown Princes of the
Emirates and King Juan Carlos of Spain.
A massive purchase deal for aircraft and state-of-the-art airplane
display, were the major features at this year’s Dubai International
Airshow 2011 that got underway on Sunday.
Sheikh Mohammed also toured the show arena at Dubai Airport Expo Centre,
where several aircrafts are on display at the open runway. He also
stopped at the Boeing dreamliner 787 which is making its maiden
appearance to the Middle East.
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Emirates
At the same time, Emirates announced the world’s biggest aircraft order
in the aviation history, when it made public its commitments valued at
$26 billion for Boeing Co’s777 planes. The announcement was made in the
presence of Sheikh Mohammed.
This is a momentous day for Emirates as it represents one of the largest
aircraft orders in the aviation history, said a senior Boeing official.
The massive order definitely reflects the strength and pace of Dubai’s
economic growth, while other countries are still nursing the economic
turbulence.
The agreement includes firm orders for 50 aircraft valued at $18
billion, and the rest as options, Emirates Chairman Shaikh Ahmed Bin
Saeed Al Maktoum officially announced this on the opening day at a press
conference held at the show venue.
The chairman however confirmed that deliveries for the aircraft will
only commence in 2015 and the airline will also remove some of its older
aircraft from the fleet.
Asked by journalists how the airline is going to finance for the order,
the chairman said liquidity is not the issue for the Dubai-based
carrier, but it may consider a variety of financing options, including
EU and US export credit.
Running until Thursday at the Dubai Airport Expo, this year’s show is
the biggest yet, with nearly 55,000 trade visitors attending during the
week and up to 30,000 visitors expected on the first day alone.
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DAE Capital
The airline also reached an agreement with DAE Capital to lease nine new
Boeing 777 freighters on long-term basis. These aircraft are from DAE’s
order book with Boeing and will deliver in the 2012-15 timeframe,
according to a statement.
The President and CEO of Boeing Commercial airplanes, Jim Albaugh said
it is a proud moment for the aircraft manufacturer as Emirates has made
this the single largest order in dollar value in Boeing’s history.
He said by Emirates placing the order it indicates that the airline has
full confidence in Boeing. Albaugh said that as the largest operator of
the 777 in the world, Emirates has played an important role in the
development of the airplane, and its input over the years has been
invaluable in the development of the 777 programme.
The afternoon session was more colourful, as show-goers and residents
were treated to a rare hair-raising encounter. An array of jet fighters
dominated the skies of Dubai as the pilots performed mid-air stunts by
somersaulting their machines, and emitting smoke in the UAE national
colours.
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