Boeing Company (BA) is racking up wins in the Middle East. The aerospace giant finalized a deal Tuesday with Gulf Air for 15 Boeing 787 Dreamliners, with options for three more jets down the line.
The Deal Details
This order isn't starting from scratch. Gulf Air made a commitment back in July, and this new agreement adds three more 787s to that earlier promise. All told, the airline now has 17 Dreamliners on order, which will supplement the 10 it already operates.
The 787 Dreamliner has become the workhorse of Gulf Air's long-haul network, which spans more than 50 destinations across Asia, Europe, and the United States. The aircraft is known for its fuel efficiency and passenger-friendly features like larger windows, lower cabin altitude, moister air, and technology designed to reduce turbulence for a smoother ride.
What Gulf Air Is Saying
"Today's signing marks a significant advancement in Gulf Air's long-term fleet development efforts. By confirming our acquisition of the Boeing 787 Dreamliners, we are accelerating our strategy to increase capacity, strengthen long-haul operations, and deliver an elevated, more sustainable travel experience to our passengers," said Khalid Husain Taqi, chairman of Gulf Air Group.
The Bigger Picture for Middle East Aviation
Boeing sees this as part of a broader trend. In a separate announcement, the company projected that Middle Eastern airline fleets will more than double by 2044. The region's share of global passenger traffic is expected to exceed 10%, fueled by tourism growth, expanding trade routes, hub development, and a rising middle class.
Between 2025 and 2044, Boeing anticipates around 2,950 new aircraft deliveries to the region.
Boeing's Recent Order Streak
The Gulf Air deal is just one in a string of recent wins for Boeing. On Monday, Emirates placed its third order for the 777X aircraft, committing to 65 777-9 passenger jets. Ethiopian Airlines also disclosed plans to purchase 11 additional 737 MAX jets.
Meanwhile, Air Senegal announced a commitment to nine 737 MAX aircraft, marking the airline's largest-ever fleet order and its first Boeing purchase since 2004.
BA Price Action: Boeing shares were down 0.84% at $190.20 during premarket trading on Monday, according to market data.