Dubai: Boeing Co. sees opportunity in Egypt for new orders of commercial passenger aircraft as the country stabilises after years of unrest and political instability.
The Egyptian economy has struggled after two revolutions since 2011 but this year it is expected to grow by 4.5 per cent, according to the credit rating agency Moody’s.
Boeing says it is closely watching the market.
“It’s one we’re going to watch very carefully and closely. That’s a big market,” Randy Tinseth, Vice-President, Marketing at Boeing Commercial Airplanes, told reporters is Dubai on Wednesday.
Orders for commercial aircraft in the Middle East have largely been dominated by the region’s big three carriers Emirates, Etihad Airways and Qatar Airways who have hundreds of Boeing and Airbus aircraft on back order. But Boeing says the market is bigger than just the big three.
“There is no question there are opportunities beyond the big three,” Tinseth said. “We have several markets that are improving I think the Egyptian market, for example, is starting to improve.”
He, however, did not say how many aircraft Egypt’s airlines could order in the coming years but on October 27 EgyptAir, the country’s largest carrier, told Gulf News it will likely order 60 to 70 aircraft in 2016.
Forecast unchanged
In June, Boeing released its 2015-2034 market outlook, which said the Middle East will need 3,180 new aircraft over the next years, up from 2,950 aircraft it forecast in 2014. Tinseth said that outlook is unchanged despite the expectations that sanctions on Iran will lift next year, which could allow Boeing as well as Airbus to sell aircraft to the country.
Won’t change Dreamliner for Emirates
Boeing will not change the 787-10, the stretched version of its Dreamliner, to meet request by Emirates for greater performance guarantees in hotter climates, according to Tinseth. “The plan is not to change the aircraft, we really like what we have,” he said.
Emirates recently said it has pushed back a decision to next year on ordering up to 100 787-10s or go with Airbus’ A350-900.
In September, Marty Bentrott, Boeing’s Vice President — Sales, Middle East, Russia & Central Asia, said that the manufacturer has given Emirates “assurances that the existing engines will provide the capability they need in terms of payload out of Dubai.”
