Berliner Boersenzeitung - Trump announces big Boeing order for Qatar Airways

The order, which the White House said was Boeing's largest ever for wide-body jets, deepens ties between the US aerospace giant and the giant Middle East carrier.

Qatar Airways will honor a "$96 billion agreement to acquire up to 210 American-made Boeing 787 Dreamliner and 777X aircraft powered by GE Aerospace engines," according to a White House fact sheet.

"This is Boeing's largest-ever widebody order and largest-ever 787 order," it said.

Comprehensive details about the order were not available. Boeing declined immediate comment.

The order represents a win for new Boeing CEO Kelly Ortberg, although analysts noted that the planes won't be delivered for at least five years due to industry backlogs.

Both Boeing and rival Airbus, which has also sold extensively to Qatar Airways, have struggled in recent years with supply chain problems as they have taken thousands of plane orders amid strong airline demand. Boeing has also been beset with safety and labor problems that have limited output.

Ortberg joined Trump for part of Wednesday's signing ceremony that also included defense agreements and the purchase by Qatar of American MQ-9B drones, after about two hours of talks with Qatar's Emir Sheikh Tamim bin Hamad Al-Thani.

"It's over $200 billion but 160 in terms of the jets. That's fantastic. So that's a record," Trump said, adding: "It's the largest order of jets in the history of Boeing. That's pretty good."

The list prices of the 777X and 787 Dreamliner suggest the total value of the Boeing deal is well under $200 billion. The $96 billion figure in the White House factsheet also appears to include some business for GE Aerospace.

- Plane backlog -

Trump's Qatar visit is the second destination of his Gulf tour, after a first stop in Riyadh, where he made a surprise announcement lifting sanctions on Syria and met the country's president.

Relations between Washington and Doha have been in the spotlight over Qatar's offer to Trump of a $400 million luxury aircraft to serve as a new Air Force One and then pass into his personal use.

Since 2016, Boeing has received 118 gross orders from Qatar Airways and delivered 65 planes to the carrier, according to Boeing's website.

Morningstar analyst Nicolas Owens said the order represents "good news" for Boeing, but noted that it would be years before Boeing receives revenues for the jets in Wednesday's order.

"If you're ordering a plane today it's not going to be on your landing strip for at least five years," Owens said.

Owens said the announcement is also a "vote of confidence" in the much-delayed 777X, which is still be certified, with Boeing pointing to first deliveries in 2026.

Ortberg joined Boeing in August 2024 following a leadership shakeup after a series of safety and quality control problems. He has focused on upgrading Boeing's operations under the close scrutiny of US air safety regulators, saying improving Boeing's corporate culture will take time.

Shares of Boeing rose 1.6 percent after midday.

(S.G.Stein--BBZ)