Emirates 777x Order

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1. In July 2014, Emirates, the launch customer, finalized its order for 150 777X aircraft, consisting of 115 777-9s and 35 777-8s. On July 16, Qatar Airways finalized its order for 50 777-9 aircraft, with purchase rights for 50 more 777-9s.
2. Aug 23, 2020 Emirates originally ordered 150 777X ats the 2013 Dubai Air Show: 115 777-9s and 35 -8s. Another six were added as orders for the 777-300ERs were converted to -9s, bringing total commitments to 156. At the 2019 Dubai Air Show, the airline converted 30 777X into 30 787-9s.

Jan 13, 2021 Emirates first signed a firm order for the Boeing 777X at the 2013 Dubai Airshow. At the time, the airline signed for 115 777-9s, alongside 35 777-8s. This was accompanied by purchase rights for 50 additional aircraft, bringing the potential total to 200. At the time of the original order, Tim Clark commented.

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Emirates is reconsidering its commitment to Boeing’s newest jet, the 777X. The Dubai-based carrier is considering swapping as much as one-third of its order of the 777X for the smaller Boeing 787 Dreamliner, according to a person familiar with the matter.

As first reported by Bloomberg, Emirates is looking to swap between 30 and 45 of its 115 777X orders for Dreamliners. The move would be a troubling one for Boeing and its 777X programme, as Emirates is the largest customer of the yet-to-be-launched aircraft.

Emirates’ move isn’t the first of its kind. Boeing indicated on Monday that it’s at risk of losing nearly 40% of its 777X orders because of delays. With the 777X now slated to debut in 2023 — more than two years later than previously expected — customers are permitted to walk away from their contracts.

Related:All about the new Boeing 777X

This week, Boeing lowered the backlog of the 777X to just 191 aircraft, according to a regulatory filing. That number, much lower than the 309 firm orders that are listed on the planemaker’s site. Boeing said in an email that the drop is the result of an accounting standard that requires sales at risk of not happening to be removed from the backlog.

In its fourth-quarter earnings call, Boeing detailed that it had taken a $6.5 billion charge for delays to the 777X. The delay could bring additional losses to Boeing when it considers cancellations, production cuts and flight-testing risks.

Emirates, which was one of the first 777X customers, declined to comment on the report that it’s looking to drop some of its 777X order in favour of the 787 Dreamliner.

As the coronavirus pandemic continues to set back the aviation industry, airlines have largely set aside their long-haul routes. As such, the demand for wide-body, twin-aisle planes has decreased — including for the future of the 777X, which is set to be the heir to the superjumbo Boeing 747. Orders for wide-body aircraft with both Boeing and Airbus are expected to be the last to recover from the pandemic-spurred drop in demand. Boeing has already said that it’s cut the output of its Dreamliners.

“The decline in backlog in the fourth quarter reflected aircraft order cancellations and removal of aircraft orders from our backlog due to the ASC 606 accounting standard, including our most recent assessment of 777X backlog due to the revised schedule,” Boeing Chief Financial Officer Greg Smith said on a call with analysts last month.

Boeing saw a similar slump in orders for the 737 MAX aircraft following its nearly two-year worldwide grounding. More than 1,100 orders for the plane were removed from Boeing’s backlog of the 737 Max.

Related:Boeing’s bad quarter: Company delays 777X, 737 MAX timeline as COVID hits business

Emirates Boeing 777x Order

In its fourth-quarter earnings report, Boeing posted a record net loss of nearly $12 billion. The two-pronged dagger to Boeing consisted of the ongoing effects of the beleaguered 737 MAX, as well as the COVID-19-spurred downturn in demand.

“I’m sure glad 2020 is in the rearview mirror,” Boeing CEO Dave Calhoun told CNBC.

Featured photo by Zach Wichter/The Points Guy

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(Bloomberg) -- Boeing Co.’s biggest 777X customer is weighing whether to swap as many as a third of its orders for the smaller 787 Dreamliner, said a person familiar with the matter, adding to the uncertainty swirling around the behemoth jet’s future.

Gulf carrier Emirates is seeking to switch between 30 and 40 of its 115 commitments for the 777X to the Dreamliner as it calibrates fleet plans, said the person, who asked not to be identified discussing private considerations. The moves could further squeeze the profits of Boeing’s newest jet, which faces a lengthy regulatory review and design changes.

The U.S. planemaker signaled Monday that it’s at risk of losing nearly 40% its 777X order haul because the latest delay to the plane’s debut -- now slated for late 2023 -- gives customers the right to walk away from sales contracts.

Boeing lowered the 777X backlog to just 191 jets in a regulatory filing, far fewer than the 309 firm orders listed on its website. The drop is due to an accounting standard that requires sales at risk of falling through to be removed from backlog, the company said in an email.

The falling tally underscores the precarious future of the 777X, which is heir to the 747 jumbo as the largest passenger plane in the company’s product lineup. The coronavirus pandemic has crushed demand for twin-aisle aircraft built to cruise across oceans, and orders for wide-body jets such as the 777X, the 787 and competing Airbus SE models are expected to be the last to recover from the slump.

The Boeing 777X airplane.

Photographer: Chona Kasinger/Bloomberg

Emirates 777x Order Confirmation

Gallery: Sriwijaya Air flight 182: Boeing jet went missing after takeoff, Indonesia officials say (USA TODAY)

Boeing announced a $6.5 billion charge for the 777X when it reported fourth-quarter earnings last week and said the latest delay would leave the plane’s debut three years behind its original schedule. Cancellations, production cuts and flight-testing risks could bring additional losses, the company warned in its annual financial filing with the U.S. Securities and Exchange Commission.

Emirates, one of the 777X’s initial customers, declined to comment. It had previously signaled its intention to swap more of its 115 orders for Dreamliners after whittling down its original order in late 2019. The Dubai-based carrier may have more leverage to do so if its contracts have provisions -- standard in the industry -- that allow customers to bolt if an airplane’s delivery is more than a year late.

Delays for the 777X “have resulted in, and may continue to result in, customers having the right to terminate orders and or substitute orders for other Boeing aircraft,” the company said in the SEC filing. Such contract terms wiped out more than 1,100 planes from Boeing’s backlog of another model, the 737 Max, amid a lengthy grounding after two fatal accidents.

Boeing declined to comment, but pointed to Chief Financial Officer Greg Smith’s comments during a Jan. 27 call with analysts.

“The decline in backlog in the fourth quarter reflected aircraft order cancellations and removal of aircraft orders from our backlog due to the ASC 606 accounting standard, including our most recent assessment of 777X backlog due to the revised schedule,” Smith said.

777x Delivery Date

Emirates boasts the world’s largest long-haul fleet of Airbus SE A380 and Boeing 777.

Emirates 777x Order List

(Adds details on Emirates fleet in final paragraph)

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