Gulf airlines splash over $150 billion

DUBAI – Gulf airlines splashed out over $150 billion on new plane deals on day one of the Dubai Airshow, underscoring a shift in power in the aviation industry and giving a boost to the formal launch of Boeing’s newest jet, as well as to Airbus’s A380 superjumbo.

Under hazy skies, sheikhs and ruling family members of Dubai and neighbouring Abu Dhabi toured rows of passenger jets and arms pavilions at the new 645 000 square meter venue, built to showcase the Middle East’s largest aviation hub and take on the industry’s traditional showcase events in Britain and France.

Dubai-based Emirates led the buying spree on Sunday with an order for 150 of Boeing’s new 777 mini-jumbo, in a deal worth $76 billion at list prices.

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