Hilbroy Advisory Inc: Emirates Airline Buys 50 Boeing Aircraft Worth $18 Bln: by Jean-Francois Amyot
Montreal, 14 November 2011 Hilbroy Advisory Inc. (Frankfurt: 2H0) – Emirates Airline kicked off the Dubai Air Show yesterday with the single largest commercial aircraft order in Boeing Co.'s history, snapping up 50 widebody 777-300s, as the Middle East's biggest carrier continues with its aggressive expansion push.
The airline's chairman Sheik Ahmad bin Saeed Al Maktoum told reporters that the deal is valued at $18 billion and Emirates has options to purchase another 20 Boeing 777-300 jets and delivery is set to take place in 2015; Jean-Francois Amyot.
This year has seen Middle East-based carriers like Dubai-based Emirates, Qatar Airways and Abu Dhabi's Etihad continue with their bold growth strategies by adding a string of new routes as well as bulking up their fleets.
If options for an additional 20 777-300 ER are exercised by Emirates then Sunday's deal is worth about $26 billion, Sheik Ahmad said, adding the airline was looking at a range of funding options including export credit agencies and Islamic financing to pay for the order.
Media reports in the last few days had speculated that Emirates could buy between 30 and 50 Boeing 777 long-range aircraft worth $8.5 billion to $14.5 billion based on average Boeing list prices. The average list price of an extended range Boeing 777-300, according to the company's website, is $298.3 million. Boeing forecasts that airlines in the Middle East will need an estimated 2,520 airplanes worth $450 billion by 2030. The forecast comes as the region's carriers continue to surpass global air traffic and capacity growth rates.
Emirates, which earlier in the month reported a 76% plunge in first-half net profit due to a $1 billion fuel cost rise, now operates a fleet of 95 777s, making it Boeing's most profitable plane.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential: Jean-Francois Amyot.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean-Francois Amyot
Hilbroy Advisory, Inc.
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Montreal, QC H4R 1X1
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Tel: 514-334-3131
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