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Emirates Airline Considers Record-Breaking $30B 777 Jet Buy

But it is also looking at a rivals' planes


boeing777underbellyBoeing (BA) may be on the verge of landing a massive deal for the newest version of its 777 passenger jet.

The aircraft manufacturer is reportedly in late-stage negotiations with Emirates Airlines over the possible purchase of more than 100 777X planes. The deal could be worth between $30 billion and $40 billion, depending on the number of planes purchased. However, the airline is also looking at Airbus’ A380 and A350 jets, the Financial Times notes.

FAA to Check Boeing 777s for Lightning Risk
FAA to Check Boeing 777s for Lightning Risk

Emirates is said to be considering the purchase of between 100 and 175 of Boeing’s new 777X, which have a list price of $400 million.

Established and run by the government of the United Arab Emirats in 1985, the in Dubia-based airline owns a fleet of 187 wide-body passenger jets, the biggest in the world. The airline currently operates 126 777 jets, but is looking to upgrade its fleet to the new 777X, with deliveries of the jets expected to extend for more than a decade after 2020.

Emirates has signaled that no deal for the 777s has yet been struck and that it could make ultimately place orders with both Boeing and Airbus.

In July, a 777 flown by Asiana Airlines crashed on landing at San Francisco’s airport, likely due to pilot error.

Shares of Boeing fell about 1%  in Monday morning trading.

Article printed from InvestorPlace Media,

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