Etihad Airways has placed today one of the largest aircraft orders in commercial aviation history at the Farnborough International Airshow in the UK.
The total deal for up to 205 wide-body and narrow-body planes is worth approximately US $43 billion, at list prices. It comprises 100 firm orders, 55 options and 50 purchase rights in a combination of Boeing and Airbus aircraft.
Etihad Airways' chairman His Highness Dr Sheikh Ahmed bin Saif Al Nahyan and chief executive James Hogan, announced the orders on the first day of the air show signing separate contracts with Boeing chairman, president and chief executive officer, Jim McNerney and also with Airbus president and chief executive officer, Tom Enders.
The agreement with Airbus comprises firm orders for 55 aircraft:
- 20 A320 aircraft. The engine type is subject to further discussions.
- 25 A350 aircraft, powered by Rolls Royce Trent XWB engines
- 10 A380 aircraft. The engine type is subject to further discussions.
There are also options for five A320s, 10 A350s and five A380s together with purchase rights for a further 15 A320s, 15 A350s and five A380s.
The agreement with Boeing comprises firm orders for 45 aircraft:
- 35 B787 aircraft. The engine type is subject to further discussions.
- 10 B777-300ER aircraft, powered by GE90 engines
There are also options for 25 B787s and 10 B777-300ERs and purchase rights for a further 10 B787s and five B777s.
The new aircraft are scheduled for delivery between 2011 and 2020 for Abu Dhabi-based Etihad Airways and when delivered will give the national airline of the United Arab Emirates a fleet of more than 150 aircraft.
James Hogan said: "This is a momentous day for Etihad Airways and Abu Dhabi and represents one of the largest aircraft orders in commercial aviation history. It reflects the strength and pace of economic growth in the Emirate and the integral role Etihad will play in Abu Dhabi's future.
"That future will see planned investments in infrastructure and projects within the Emirate likely to exceed US $200 billion during the next 10 years, an aggressive tourism push and enormous residential development. We are extremely proud to play a leading role in realising these exciting plans in the years ahead.
"The size of our order also mirrors the rising prominence of the Middle East and its increasing emergence as a new focal point of global aviation and a natural air bridge between East and West offering the fastest air links for travellers and freight forwarders."
A key selection criterion in the deal has been the environmental performance of the aircraft. Mr Hogan added: "The new generation aircraft we have ordered from both Boeing and Airbus are amongst the most fuel efficient and will help maintain Etihad's fleet as one of the youngest and greenest in the sky."
Etihad Airways' chairman His Highness Dr Sheikh Ahmed bin Saif Al Nahyan said: "The story of Etihad's growth has been a remarkable one. At every stage of our short history we have surprised people with the scale of our ambition - and at every stage we have delivered on that ambition.
"This aircraft order is another major step forward in our journey and will enable us to continue our exciting expansion plans by adding new destinations to our growing global network and fulfil our aspirations of bringing Abu Dhabi to the world."
Since its establishment in 2003, Etihad Airways has been recognised as the fastest growing airline in commercial aviation history. It serves 45 global destinations covering Africa, Asia, Australia, Europe, the Middle East and North America and this year is on course to carry six million passengers.
So far this year, the airline has started new flights to Beijing in China. August will see Chennai (Madras) and Kozhikode (Calicut) in India, and Minsk in Belarus added to the network.
Etihad will also launch new services in December to Moscow in Russia and Almaty in Kazakhstan.
For Etihad aircraft images and photos of the Boeing and Airbus signing ceremonies at the Farnborough International Airshow, visit www.etihadmediacentre.com
Options and purchase rights
Options are an "add-on" to firm orders. Options are either turned into full orders or cancelled. Options provide the flexibility to take delivery of aircraft at an agreed price and at an agreed time in the future.
Purchase rights provide further flexibility, over and above options, to take delivery of further aircraft at an agreed price. With purchase rights, the future price is fixed but not necessarily the delivery date.
Etihad's current fleet
As of 14 July, 2008, Etihad's fleet consists of 38 aircraft:
- 5 x Boeing 777-300 ER
- 2 x Airbus A319
- 6 x Airbus A320
- 14 x Airbus A330-200
- 1 x Airbus A340-300
- 4 x Airbus A340- 500
- 3 x Airbus A340- 600
- 2 x Airbus A300-600S (cargo freighter)
- 1 x MD11 (cargo freighter)
Major fleet orders in Etihad's history
Etihad made its first aircraft order at the 2004 Farnborough International Airshow. The total value of the agreement was in excess of US $7 billion and was for the following:
- 12 x Airbus A330-200s
- 4 x Airbus A340-500s
- 4 x Airbus A340-600s
- 4 x Airbus A380s
Etihad made its first major Boeing order in September 2004. The total value of the agreement was in excess of US $1 billion and was for the following:
- 5 x Boeing 777-300ER
Etihad placed a further order in June 2007 with Airbus at the Paris Airshow for aircraft to be delivered between 2008 and 2011. The total value of the agreement was worth US $2.2 billion and was for the following:
- 5 x Airbus A330
- 4 x Airbus A340-600s
- 3 x A330 freighters
-Ends-
About Abu Dhabi airport
Abu Dhabi airport is currently the second largest in the UAE, serving 6.9 million passengers in 2007, up 30 per cent on the year before.
Work is currently underway on a new terminal at the airport, to open later this year. Once completed, the airport's three terminals will have an approximate capacity of 12 million passengers per annum. It is expected that passenger numbers will reach this level in 2011.
Development work has also started on a major new passenger terminal, to be situated between the two runways and known currently as the Midfield Terminal. Upon completion for 2012, the Midfield Terminal will take the airport's passenger capacity to more than 20 million per year.
About Etihad Airways
Etihad Airways is the national airline of the United Arab Emirates based in the UAE's capital, Abu Dhabi.
Currently Etihad offers flights to 45 destinations in the Middle East, Europe, North America, Africa and Asia.
Etihad currently has 6,300 members of staff which includes more than 3,000 cabin crew and 600 pilots.
For further details: Etihad Airways Corporate Communications: Tel: + 971 2 505 8317 / 8573 or visit www.etihadmediacentre.com
Press Release 2008
