Emirates’ £11bn Boeing 777 order

Dubai’s airline, Emirates, kicked off the Middle East’s biggest airshow yesterday with an order for 50 Boeing 777s, the US aircraft maker’s biggest-ever single order in dollar terms.

Emirates and Boeing valued the unexpectedly large deal for $18 billion (£11.2bn) – although it is though the carrier is unlikely to pay that much for the planes. Airlines typically negotiate big discounts, especially when buying in bulk. Emirates has an option to buy another 20 777s as part of the order which would push the deal’s value to $26bn. Emirates earlier this month posted a first half profit of $225 million.