Boeing (NYSE: BA)'s announcement Monday that it had won an order for 100 planes valued at $13.7 billion from Dubai Aerospace Enterprise caps a superior year for the aerospace giant, and provides solid momentum heading into 2008.Dubai Aerospace, the Persian Gulf emirate's entity aimed at establishing a large airport and aviation-services company, said it ordered 70 Boeing 747 Next Generation planes, 15 787 Dreamliner plane, 10 777-300ERs and five 747-8 freighter planes. (Earlier, Dubai Aerospace also announced an order for Airbus aircraft valued at $13.5 billion: 70 A320s and 30 A350 XWBs.)
The Boeing order helps cap a very good year for the Chicago-based company. Boeing booked orders for 966 planes through Nov. 6. The latest contract win is somewhat of a surprise, as many analysts had expected global orders to begin to slow; so far, there's little indication of slowing demand from emerging market regions in Asia, Latin American and the Middle East. Boeing's shares fell 80 cents to $93.41 in Monday morning trading.
Further, a considerable portion of that demand is coming from Middle East sources. For example, with its order, Dubai Aerospace, through its capital arm, hopes to become a world-class aircraft leasing business based in Dubai.
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