Boeing landed its biggest deal for wide-body airplanes on Wednesday when state carrier Qatar Airways placed firm orders for 160 jetliners plus options to buy 50 more during President Donald Trump’s visit to the Gulf Arab country.
The deal for Boeing (BA.N) 777X and 787 planes with GE Aerospace (GE.N) engines was worth $96 billion, according to the White House. It is a win for Trump on a high-profile visit to the region, even though it will be years before the jets are delivered.
The sale is also a boost for Boeing and its biggest engine supplier at a time when large versions of rival Airbus’ A350, powered by Rolls-Royce engines, have struggled with maintenance problems from operating in the world’s hottest climates, including the Gulf region.
The agreement is for 160 firm orders – 130 787s and 30 777Xs – and options for another 50 of the two long-haul airplanes, according to Boeing. The company’s shares rose 0.6% in New York, while GE Aerospace stock gained 0.7%.
For the 787s, Qatar opted for GE Aerospace’s GEnx engines rather than Rolls-Royce’s Trent 1000, according to the administration. GE Aerospace’s GE9X is the only engine option for the 777X.
The deal for 400 GE engines is the largest ever for GE Aerospace, the company’s CEO Larry Culp said in a statement, a point echoed by Qatar Airways, which told Reuters in March that it was working on a large order for widebody jets.
Trump and Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani joined a signing ceremony with Boeing CEO Kelly Ortberg and Qatar Airways CEO Badr Mohammed Al-Meer. Trump said Ortberg told him it was the largest jet order in Boeing’s history.
