The Dubai Airshow kicked off with a resounding announcement from Emirates, the world’s largest international airline, as it signalled a substantial order for the Boeing Company’s Boeing 777X widebody aircraft.

Industry insiders revealed that Emirates has already signed the remarkable deal for 90 Boeing 777X jets, a move set to significantly bolster the aerospace giant’s long-haul program.

Boeing (BA) stock responds to Emirates’ confidence

Emirates’ commitment to expanding its fleet with the Boeing 777X had an immediate impact on Boeing’s stock.

At the close of the previous trading day, Boeing Co’s (NYSE: BA) stock was valued at $193.33. However, following the announcement at the Dubai Airshow, the stock experienced a notable pre-market surge, reaching $204.00—an impressive 3.74% increase.

This move by Emirates not only underscores its confidence in Boeing’s 777X program but also injects momentum into Boeing’s stock performance. The aviation industry has been closely watching Boeing’s 777X, which has faced delays, and this significant order from Emirates comes as a crucial endorsement for the program.

Dubai airshow dynamics and market outlook

The Dubai Airshow is poised to be a platform for major fleet enhancements, with Emirates and its regional affiliate, flyDubai, taking the spotlight early on. Amid concerns about a downturn in the travel sector due to the conflict in Gaza, Emirates’ move to order 90 Boeing 777X jets sends a strong signal about the demand for long-haul aircraft in the region.

As industry officials estimate global negotiations for 700-800 new jets, including the world’s largest, Emirates’ showcase order is anticipated to be valued close to $40 billion at list prices. This not only secures Boeing’s position in the market but also places a flag down ahead of rising competition from airlines in Saudi Arabia, Turkey, and India.

In parallel developments, Turkish Airlines is reported to be in talks to buy up to 355 Airbus (EPA: AIR) jets, making a bold move in the face of Gulf rivals. The aviation landscape in the Middle East is evolving, with airlines adjusting their fleets to meet changing market demands.

As the Dubai Airshow unfolds, the aviation industry is closely monitoring these strategic moves, anticipating further orders and announcements that will shape the trajectory of the aerospace sector.

By positioning Emirates as a key player in expanding its long-haul fleet, the Dubai Airshow sets the stage for a dynamic period in the aviation market, with implications not only for Boeing (BA) but for the broader industry’s growth and competition.