Posted on 11/28/2009 6:37:00 AM PST by ricks_place
As if Airbus and Boeing didn’t have enough to worry about already, the looming debt crisis in Dubai has cast a shadow over a backlog of aircraft orders, worth more than $60 billion, from Dubai, Inc.
The biggest – but by no means the only – example is Emirates, Dubai’s government-controlled carrier. It has more than $30 billion worth of planes on order from Airbus, including 53 of the double-decker A380, for which Emirates is by far the largest customer. Emirates also has placed 70 orders for Airbus’s forthcoming A350 widebody. And Airbus has outstanding orders from state-controlled leasing outfit DAE Capital totaling about $12.6 billion.
No surprise, then, that shares in Airbus parent European Aeronautics Defence & Space Co. fell more than 3% on Nov. 26 when the Dubai government asked to postpone debt repayments.
Boeing is considerably less-exposed than Airbus to potential turmoil in Dubai, but it still has plenty at stake. Emirates has about $4 billion worth of Boeing 777s on order, while DAE Capital and low-cost carrier Flydubai have a combined $16 billion on order from Boeing. As U.S. markets reopened on Nov. 27 after Thanksgiving, Boeing shares were down 1.2%
(Excerpt) Read more at businessweek.com ...
ping
53 A380’s ?
Is Airbus too big to fail?
Just a guess but I would think that the biggest news here is that there will be a lot more job losses in the aircraft industry.
Boeing probably has enough cash to weather this, but losing this much business has to result in layoffs.
I'm wondering of Dubie was the A380 "launch order". If so it's really sweet to a Boeing man to see that order cancelled!
No, I think SQ (Singapore Airlines) was the 380 launch customer.
That DOES ring a bell now that you say it. I bet it was not as big an order as Dubie'sez.
53 A380s @ 750 passengers each X one flight to Dubai per day = 14 million visitors to this sand pile each year. Something’s wrong here...
I was amazed to see that first picture of an A380 next to a 747. It looked like a 737.
I believe I read that this is the latgest ($$$) aircraft order ever placed at one time. (something like that)
Are these businessmen insane? Did anyone at Boeing or Airbus take ten minutes to run the numbers to see if this order made sense?
Or where they like giddy five-year-olds at Halloween?
I bet the executives have already spent the bonuses they got for getting the big order.
These people disgust me.
They fly more than just direct routes to Dubai.
Dubai has become a major hub for travel between the US and Europe to Asia.
Sort of like flying AirTran and most flights go through Atlanta.
Nope, the BIGGER news is there will be less carbon emissions, therefore saving the earth, the animals, plants, insects and all other living things.
“These people disgust me.”
I don’t suppose you’d like to get all the info before you become disgusted, would ya?
Boeing is ALREADY laying off.
I know, I’m one of them. . .
Yes, china is losing a lot of work.
Yes, caught up in the no down side BS coming from wall street.
Yes, caught up in the no down side BS coming from wall street.
Of course, that means we could see airlines advance their A380 and 777-300ER delivery positions if there are substantial cancellations of Emirates orders. Airlines like Lufthansa, Air France and Singapore Airlines could end up getting A380’s up to a year earlier if Emirates cancels a large fraction of their A380 orders.
I can’t figure out why anyone would have wanted to go there anyway.
I think it is going to be a long, long economic recovery for WA State. It truly is a small world and to help out both Airbus and Boeing I wonder if the USA military tanker program will get fixed internationally so both get a piece of the action due to the problems with orders from Dubai
Boeing is a small order compared to Airbus. Not sure there is a rationale for the USA to aid Airbus, a company subsidized and owned by European Counties.
What are the delivery dates for the Dubia aircraft?
2010? 2014? 2018?
This isn’t even a rumor of cancellation, it’s pure speculation.
Do you have a BSEE and are you willing to relocate to Oklahoma?
Dubai is facing default on $60 Billion in debt for real estate development. Dubai is financing $30 Billion in aircraft orders. Maybe it is speculation that financing for the aircraft won't be forthcoming but then again maybe there is ALT financing available. lol
I flew to India on their airlines, transferring in Dubai. It was the best overseas flight I have ever had. The stewardesses were dressed in these "I Dream of Jeanie" costumes and the service was fantastic. Their weren't many Arabs on the flight, mostly Western businessmen and soldiers.
But all of those unemployed will be eating beans and rice....
More gas...
When the world goes bust it takes down the large with the small. Look for GM and Chrysler to bite the dust despite being owned by Obama.
That's about the number of airline seats they would need to fly one occupant for each of the condos they are building in Dubai. The decision that was the number needed based on Arab logic.
See my reply at #34 for an explaination of the logic of the order.
As far as I know Boeing only shuts down for the Christmas and New Year Holidays,23 of Dec to about Jan 2.
Take a look at how Emirates Airlines has outfitted their A380s over at English Яussia
Talk about flying in luxury!
Boeing shuts down between Christmas Eve and New Years, NOT 30 days. . .
“Nope, the BIGGER news is there will be less carbon emissions, therefore saving the earth, the animals, plants, insects and all other living things.”
Take the equivalent amount of fuel and burn it just to keep things even!
I think one idea that could work is a Boeing 767-300ER based tanker powered by a military version of the GE GENx engine rated at around 68,000 lb. thrust and using Aviation Partners winglets for extended range. Since the GENx engine is already in flight test and the 767-300ER airframe is a proven commodity with production tooling still in place, Boeing could ramp up production of such a tanker within 15 months—and build as many as 250-300 planes to replace the oldest planes in the rapidly aging KC-135 fleet.
Dubai=Globalist(wannabe) retreat...(or hide-out).
Their version of "going Galt"
Unfortunately they are now being exposed for the crooks they are and need to find another "gulch" to hide-out in...
The TRUE globalist master(s) knew better than to congregate to one place...but I'm quite sure they got their pound of flesh out of what is/was Dubai(or is that Du-bacle)
“Boeing could ramp up production of such a tanker within 15 months”
- LOL
Boeing couldn’t even show up with a power point presentation of a KC-767 within 15 months. Go ask the Italians or Japanese they’ll tell ya how long it takes to build a KC-767. 6 years late and still not operational !!! Compared to this mess the A400M desaster (4 years late) is perfectly on schedule.
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