DUBAI: Abu Dhabi's long-haul carrier Etihad put in an order for 16 Airbus aircraft on Tuesday, part of its efforts to expand as its economic fortunes improve.
The order includes six A330-900s, seven A350-1000s and three A350F freighters, the two firms said at a news conference. They did not offer a cost for the deal. Airlines often negotiate lower prices in major orders.
Etihad made a record USD 476 million profit in 2024, part of a financial rebound for the Abu Dhabi-based airline. While still a slender profit compared to rival Emirates' record profits of USD 5.2 billion in the last fiscal year, it continues a major turnaround for Etihad.
Abu Dhabi's rulers launched Etihad in 2003, rivalling the established Dubai government-owned carrier Emirates, which boasts a larger fleet and a far-flung network.
Etihad struggled with its business plan and underwent cost-cutting measures even before the coronavirus pandemic. Since 2016, Etihad has lost some USD 6 billion as it has aggressively bought up stakes in airlines from Europe to Asia to compete against Emirates and Qatar Airways.
On Monday, Emirates ordered 65 of Boeing's upcoming 777 9 aircraft worth USD 38 billion at list prices.
Tim Clark, the president of Emirates, again acknowledged to journalists on Tuesday the delays that have plagued Boeing in getting the 777-9 to customers. However, he said he believed Emirates' large purchase could see even President Donald Trump's White House take note and push the manufacturer to finish the plane.
“I'm sure the White House will be leaning on Boeing to make sure it all works and they can get the things out of the doors quickly as they can, because it does mean jobs for everyone,” Clark said. “Particularly the 9X is going to be Seattle constructed, so all that sort of workforce in the northwest is almost secured now for decades.”
Clark also acknowledged Emirates and its lower-cost sister airline FlyDubai would be able to rapidly expand their routes with new aircraft once the sheikhdom drastically expands Al Maktoum International Airport at Dubai World Central, where the air show takes place.
Dubai plans a USD 35 billion project to expand to five parallel runways and 400 aircraft gates, to be completed within the next decade.
“We'll be able to reach any point on the planet,” Clark said.