Emirates opens Dubai Air Show with €48bn aircraft purchase from Boeing

(Emirates/PA)

Long-haul carrier Emirates has opened the Dubai Air Show with a $52bn (€48.64bn) purchase of Boeing aircraft, showing how aviation has bounced back after the groundings of the coronavirus pandemic, even as Israel’s war with Hamas clouds regional security.

That conflict, as well as Russia’s war on Ukraine, is likely to influence the five-day show at Al Maktoum Airport at Dubai World Central.

It is the city-state’s second airfield after Dubai International Airport, which is the world’s busiest for international travel and home base for the long-haul carrier Emirates.

Emirates made the announcement witnessed by the crown prince of Dubai, Sheikh Hamad bin Mohammed Al Maktoum, at a news conference on Monday afternoon.

Emiratis walk past the empty stand of Israel Aerospace Industries (Jon Gambrell/AP)

While commercial aviation takes much of the attention, arms manufacturers also have exhibitions at the show. Two major Israeli firms — Rafael Advanced Defence Systems and Israel Aerospace Industries had been slated to participate.

But the IAI stand, bearing the slogan “Where Courage Meets Technology”, was roped off and empty on Monday morning as people poured into the show. A stand for Rafael handed out coffee, though there were no sales staff.

Rafael also sponsored a meeting of air force commanders on Sunday at a luxury Dubai hotel, highlighting the balancing act being struck by the UAE amid anger in the Arab world over the Israel-Hamas war.

The UAE, a federation of seven sheikhdoms, established diplomatic relations with Israel in 2020.

The firm Russian Helicopters is likely to have staff on hand for the air show after appearing at the Abu Dhabi arms fair earlier this year despite being sanctioned by the US and others over Moscow’s attack on Ukraine. Roscosmos, the Russian state space company, is also at the show.

Global aviation is booming after the coronavirus pandemic saw worldwide lockdowns and aircraft grounded — particularly at Al Maktoum Airport, which served for months as a parking space for Emirates double-decker Airbus 380s.

Air traffic is now at 97% of pre-Covid levels, according to the International Air Transport Association. Middle Eastern airlines, which supply key East-West routes for global travel, saw a 26.6% increase in September traffic compared with a year earlier, IATA says.

Emirates, a main economic engine for Dubai amid its booming property market, announced record half-year profits of $2.7bn (€2.53bn) on Thursday. That is up from $1.2bn (€1.12bn) for the same period last year, potentially putting the airline on track for another record-breaking year.

The airline says it has repaid $2.5bn (€2.34bn) of the loans it received during the height of the pandemic to stay afloat.

Tim Clark, president of Emirates, told Bloomberg in September to “watch this space” for purchases from Airbus and Boeing during the air show. The airline is hiring new pilots and crew, likely to staff new aircraft.

“We’ve got a lot of big plans for the airline going forward,” Mr Clark said. “New fleet, larger numbers, larger network.”