Emirates orders 50 Boeing 777-300s in record $18 billion deal

Dubai, United Arab Emirates: US aircraft manufacturer, Boeing Co, recorded its biggest-ever single order in dollar terms when leading international airline, Dubai-based Emirates, placed a huge order for 50 Boeing 777s. At list prices the order is worth $18 billion, though airlines traditionally negotiate large discounts when buying in bulk.

The Emirates order is for the 777-300, an extended range version of the 777.

With an option for another 20 777s as part of the order the face value of the order will likely touch $26 billion.

The twin-engine 777 is a workhorse of Emirates long-haul fleet. The carrier already has 95 777s in service and another 40 on order. The fresh orders will nearly double the size of its 777 fleet.

''The 777 has really served Emirates very well in terms of the seat cost, especially when we see that the fuel price today is very high,'' Emirates chairman and CEO Sheik Ahmed bin Saeed Al Maktoum said in a statement.

Earlier this month, Emirates posted a profit of $225 million for the first half of its fiscal year, a 76 per cent decline from the same period a year earlier.