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Qatar Airways Holds Advanced Talks for 25-30 Boeing Planes | ASHARQ AL-AWSAT English Archive 2005 -2017
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President of Gulfstream Aerospace, Mark Burns (2nd L) and Chief Executive Officer of Qatar Airways, Akbar Al Baker (2nd R) pose for a photograph after a press conference on the opening day of the Farnborough Airshow, south west of London, on July 11, 2016. The event, held every two years southwest of London, traditionally sees US titan Boeing and Europe’s Airbus compete as they unveil their latest multi-billion-dollar order, A.F.P


Qatar Airways Holds Advanced Talks for 25-30 Boeing Planes

by | Jul 11, 2016 | Business |

Qatar Airways Holds Advanced Talks for 25-30 Boeing Planes

Qatar Airways is in advanced talks with Boeing to buy up to 30 narrow-body planes and will not rule out additional cancellations of delayed deliveries from rival Airbus, the airline’s chief executive said on Monday.

Qatar earlier this year cancelled its first delivery of the narrow-body Airbus A320neo jet due after delays in delivery and has said it must source alternate planes to meet demand.

“We are quite advanced” in talks with Boeing, Akbar Al Baker told journalists at the Farnborough Airshow. “It’s between 25 and 30 aircraft, a combination of the two,” he said, referring to the current 737NG model and the successor 737 MAX.

Asked if a deal might be signed this week at the Farnborough Airshow, he said he didn’t know. “We still have a few things to iron out.”

Al Baker said there had been no progress in the dispute with Airbus on A320s and it was not clear if there would be additional cancellations. He said he hoped to get a second A350 of 11 by the end of the month despite a delay.

Qatar Airways this year also increased its stake in British Airways parent International Consolidated Airlines Group and has hinted that it would consider raising its stake further.

Regional rival Emirates in May said net profit for the full-year rose 56% to $1.9 billion, also due to lower oil prices. Abu Dhabi’s Etihad booked $103 million in full-year net profit.

Moreover, Qatar Airways said on Monday its full-year profit more than quadrupled, aided by lower fuel costs and as the nationally-owned carrier continued to expand its international route network.

Net profit for the financial year ending March 31 jumped to 1.62 billion Qatari riyals ($445 million) from 373 million riyals a year earlier, according to the company’s financial statements. Full-year revenue rose to 35.2 billion riyals from 33.9 billion riyals. It’s the first time Qatar Airways has disclosed fully audited figures since it was founded in 1993.