Boeing to supply Flydubai with up to 150 flagship airliners worth $13 billion
A day earlier, Boeing lost its exclusive supplier status for the Middle East low-cost carrier
Boeing has received an order for up to 150 airplanes from UAE-based Flydubai, the aircraft maker said. The agreement calls for the delivery of 75 737 Max model airplanes and an option to purchase another 75 such airplanes. The value of the contract for the first 75 airliners is $13 billion, Flydubai said in a press release. The two companies signed a memorandum of understanding on Wednesday, November 19, on the sidelines of the Dubai Airshow.
The contract involves the fourth purchase of Boeing airplanes by a Middle Eastern carrier, the U.S. company said. For Boeing, the agreement was the second major deal at the Dubai show, Bloomberg noted. The U.S. aircraft maker also received an order from Emirates - Flydubai's sister company - for 65 wide-body 777-9s worth a total of $38 billion. In addition, Boeing reported a contract with Gulf Air of Bahrain for the delivery of 15 787 Dreamliners, its amount the parties did not disclose.
Shares of Boeing were up about 0.5% at the premarket on November 19. The main trades a day earlier ended with a 1.14% drop to $189.63.
Context
Flydubai decided to change its procurement strategy for the first time in November and placed an order for 150 narrow-body A321neo from Boeing's European rival Airbus. This helped the European manufacturer gain a new customer for its most popular airliner and dealt a blow to Boeing, which until now had been Flydubai's sole aircraft supplier, Bloomberg notes. Flydubai has previously publicly expressed frustration over delays in Boeing aircraft deliveries, hampering its growth plans amid a push to boost tourism in Dubai, the publication adds.
Boeing's market capitalization is now 7% higher than it was at the beginning of 2025. By comparison, the main U.S. stock index S&P 500 added 12.5% over the same period. And Airbus shares rose by almost 32% in Paris.
About 81% of analysts tracking Boeing stock advise investors to buy the securities (Buy and Overweight estimates), according to MarketWatch. Wall Street's consensus target price of $248.7 implies the company's market value is up another 31% from the last closing price.
This article was AI-translated and verified by a human editor
