Etihad Airways is ordering ten more Boeing 787-9 Dreamliners in a deal which will make it the largest operator of the aircraft type in the world.
The Abu-Dhabi-based airline has also ordered another two Boeing 777 Freighters for its fast growing Etihad Crystal Cargo operation.
The 12 additional aircraft are valued at $2.8 billion at current list prices.
The extra Dreamliners mean Etihad Airways will now take delivery of 41 787s between late 2014 and 2019. It already holds options and purchase rights on 25 more 787s.
The 787-9 will carry up to 300 passengers and have a range of 8000 nautical miles (14,800 kilometres), and will be initially used on Etihad Airways routes to destinations including Dublin, Frankfurt, Kuala Lumpur, Beijing and Nagoya, Delhi and Istanbul.
“Our decision to expand our Dreamliner fleet is testimony to Etihad’s commitment to operating one of the youngest and most fuel efficient fleets in the skies,” Etihad CEO James Hogan.
“It also reflects our confidence in the 787’s ability to have a significant impact on our operating efficiencies and the passenger experience we can offer onboard this revolutionary aircraft.
“Both the 787 Dreamliner and the 777 Freighter offer highly attractive operating economics and will facilitate our global expansion plans by allowing us to transport passengers and cargo into new markets from our hub in Abu Dhabi,” Hogan said.
The two extra 777 Freighters mean Etihad Airways will have a fleet of 21 777s (18 passenger aircraft and three freighters).
The cargo fleet also includes two A300-600Fs, two A330-200Fs and two MD11Fs
“We continually review our operating environment and look to leverage off the great flexibility which we built in to our 2008 fleet order.”
The airline announced what was then the largest aircraft order in commercial aviation history at the 2008 Farnborough International Air Show for up to 205 aircraft – 100 firm orders, 55 options and 50 purchase rights.
“We saw an opportunity to add further certainty to our growth profile in the mid to late part of the decade. The Dreamliner is a wonderful aircraft which will provide a great experience for our guests
The twin engine, carbon composite 787 made its first commercial flight from Tokyo to Hong Kong on October 26 and burns 20 per cent less fuel than other similar sized aircraft.
Analyst Saj Ahmad said: "While Etihad had previously dropped four 787-9 orders and swapped them for three 777-300ERs because of their faster deliveries, the carrier is poised to make the transition to the Dreamliner as its long haul airplane of choice once the model enters service in 2014.
"The 777-300ERs will continue to operate alongside the 787-9s, however, with the 787-9 having the lowest fuel burn, longest range and lowest operating cost of any twin engine airplane while delivering lower emissions to control its environmental footprint as it expands its fleet. Not only that, but the 787-9 allows Etihad to open up far more point-to-point destinations with a one stop connection through its Abu Dhabi hub to literally anywhere on the planet - the 787-9s immense range coupled with its low cost per seat will enable the airline to open up routes across America, Latin America and Asia as well as other markets such as northern Europe.
The addition of the 777Fs is also a smart investment - with a sizeable 777 fleet already, pilots can seamlessly move between freighter and passenger models with minimum fuss and without the need to recruit or train new staff. And with the 777F being by far the most popular freighter to enter the market in the last decade, its capabilities to interline with 747 freighters and maximise its long range with a 100 tonne cargo load makes it one of the most efficient and sought after freighters, particularly at a time when cargo operators are still reeling from a slump in the freight market - being able to lower costs to help revive yields has become critical and the 777F has won acclaim for being able to do just that."
"The 777-300ERs will continue to operate alongside the 787-9s, however, with the 787-9 having the lowest fuel burn, longest range and lowest operating cost of any twin engine airplane while delivering lower emissions to control its environmental footprint as it expands its fleet. Not only that, but the 787-9 allows Etihad to open up far more point-to-point destinations with a one stop connection through its Abu Dhabi hub to literally anywhere on the planet - the 787-9s immense range coupled with its low cost per seat will enable the airline to open up routes across America, Latin America and Asia as well as other markets such as northern Europe.
The addition of the 777Fs is also a smart investment - with a sizeable 777 fleet already, pilots can seamlessly move between freighter and passenger models with minimum fuss and without the need to recruit or train new staff. And with the 777F being by far the most popular freighter to enter the market in the last decade, its capabilities to interline with 747 freighters and maximise its long range with a 100 tonne cargo load makes it one of the most efficient and sought after freighters, particularly at a time when cargo operators are still reeling from a slump in the freight market - being able to lower costs to help revive yields has become critical and the 777F has won acclaim for being able to do just that."
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