Latest news with #KhalidTaqi
Gulf Insider
4 days ago
- Business
- Gulf Insider
Gulf Air Orders 12 Boeing 787 Dreamliners With Options For Six Additional Aircraft
Boeing and Gulf Air have announced an agreement for the purchase of 12 787 Dreamliner jets with options for six more as the Bahrain-based airline seeks to develop its international network further. The order will bring the carrier's firm order book to 14 of the widebody jets and will support 30,000 jobs across the United States once finalised. Bahrain Minister of Finance and National Economy Shaikh Salman bin Khalifa Al Khalifa and U.S. Commerce Secretary Howard Lutnick joined Boeing Commercial Airplanes President and CEO Stephanie Pope and Gulf Air Group Chairman Khalid Taqi to witness the signing. The flag carrier of Bahrain will grow its all-787 widebody fleet, adding up to 18 787 Dreamliners to its widebody fleet. 'This agreement marks a transformative step in Gulf Air's strategic growth journey as we expand our global footprint and modernize our fleet with one of the industry's most advanced and efficient aircraft,' Khalid Taqi, chairman of Gulf Air Group said in a statement. 'The Boeing 787 Dreamliner has proven to be an exceptional aircraft for our long-haul operations, and this new order reflects our confidence in its performance, passenger appeal and contribution to our sustainability goals. We are proud to deepen our partnership with Boeing and reaffirm our commitment to positioning Bahrain as a key global aviation hub,' he added. The 787 Dreamliner serves as the backbone of Gulf Air's long-haul operations, connecting over 50 destinations. With 10 787 airplanes in service, the airline is positioned to grow its network, serving new and existing markets across Asia, Europe and the United States. 'We are excited to build on our more than 60-year partnership with Gulf Air as we deliver the market-leading 787 Dreamliner to help the airline serve more passengers and connect more destinations,' Stephanie Pope, president and CEO of Boeing Commercial Airplanes explained, adding that this investment in the 787 Dreamliner 'demonstrates Gulf Air's commitment to new technology and sustainable development, reinforcing Bahrain's position in the aviation sector.' The 787 Dreamliner family has transformed global air travel by opening over 425 new nonstop routes and carrying more than 1 billion passengers worldwide since its commercial introduction in 2011. As Gulf Air's flagship airplane, the 787 features the largest windows of any widebody jet, air that is less dry and pressurised at a lower cabin altitude for comfort, and technology that senses and counters turbulence for a smoother ride. From its first DC-3 in 1961, Gulf Air has taken delivery of 37 Boeing airplanes, including the 787 jets currently in its fleet. Boeing is a leading global aerospace company and top U.S. exporter. The company develops, manufactures and services commercial airplanes, defence products and space systems for customers in more than 150 countries.
Arabian Business
5 days ago
- Business
- Arabian Business
Gulf Air orders 12 Boeing 787 Dreamliners with options for six additional aircraft
Boeing and Gulf Air have announced an agreement for the purchase of 12 787 Dreamliner jets with options for six more as the Bahrain-based airline seeks to develop its international network further. The order will bring the carrier's firm order book to 14 of the widebody jets and will support 30,000 jobs across the United States once finalised. Bahrain Minister of Finance and National Economy Shaikh Salman bin Khalifa Al Khalifa and U.S. Commerce Secretary Howard Lutnick joined Boeing Commercial Airplanes President and CEO Stephanie Pope and Gulf Air Group Chairman Khalid Taqi to witness the signing. Boeing secures Gulf Air deal for 12 787 Dreamliners The flag carrier of Bahrain will grow its all-787 widebody fleet, adding up to 18 787 Dreamliners to its widebody fleet. 'This agreement marks a transformative step in Gulf Air's strategic growth journey as we expand our global footprint and modernize our fleet with one of the industry's most advanced and efficient aircraft,' Khalid Taqi, chairman of Gulf Air Group said in a statement. 'The Boeing 787 Dreamliner has proven to be an exceptional aircraft for our long-haul operations, and this new order reflects our confidence in its performance, passenger appeal and contribution to our sustainability goals. We are proud to deepen our partnership with Boeing and reaffirm our commitment to positioning Bahrain as a key global aviation hub,' he added. The 787 Dreamliner serves as the backbone of Gulf Air's long-haul operations, connecting over 50 destinations. With 10 787 airplanes in service, the airline is positioned to grow its network, serving new and existing markets across Asia, Europe and the United States. 'We are excited to build on our more than 60-year partnership with Gulf Air as we deliver the market-leading 787 Dreamliner to help the airline serve more passengers and connect more destinations,' Stephanie Pope, president and CEO of Boeing Commercial Airplanes explained, adding that this investment in the 787 Dreamliner 'demonstrates Gulf Air's commitment to new technology and sustainable development, reinforcing Bahrain's position in the aviation sector.' The 787 Dreamliner family has transformed global air travel by opening over 425 new nonstop routes and carrying more than 1 billion passengers worldwide since its commercial introduction in 2011. As Gulf Air's flagship airplane, the 787 features the largest windows of any widebody jet, air that is less dry and pressurised at a lower cabin altitude for comfort, and technology that senses and counters turbulence for a smoother ride. From its first DC-3 in 1961, Gulf Air has taken delivery of 37 Boeing airplanes, including the 787 jets currently in its fleet. Boeing is a leading global aerospace company and top U.S. exporter. The company develops, manufactures and services commercial airplanes, defence products and space systems for customers in more than 150 countries.
Business Insider
5 days ago
- Business
- Business Insider
'A Transformative Step for Gulf Air' Means Another Big Sale for Boeing (NYSE:BA)
While aerospace stock Boeing (BA) has faced more than its share of troubles in production of late, the same cannot be said for its sales arm. Not even slightly; sales have been brisker than a November morning in New Jersey, and a brand new sale recently emerged to drive the point home. Boeing sold several billion dollars' worth of 787 Dreamliners to Gulf Air, but shareholders were oddly less than pleased. In fact, shares were down modestly in Friday afternoon's trading. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Boeing sold 12 of the 787s to Gulf Air, as it looks to make a wider push into global operations. The new sale increased Gulf Air's order with Boeing to 14, according to a joint statement from Boeing and Gulf Air. Gulf Air Group chairman Khalid Taqi, meanwhile, noted that the move was '…a transformative step in Gulf Air's strategic growth journey as we expand our global footprint and modernize our fleet with one of the industry's most advanced and efficient aircraft.' Gulf Air turned to the 787 Dreamliner for its capabilities in long-haul operations, as well as its overall passenger appeal and its '…contribution to our sustainability goals,' Taqi noted. Regardless of the motivation, it's another sale worth billions into Boeing's coffers, as long as it can actually fill the order at some point. Four Little Words Meanwhile, reports emerged that had four words to say about the Boeing X-32, a prototype stealth fighter. While the words would not ordinarily be good ones, in this case, they will be. Those words? 'Head to the museum.' The X-32 originally lost out to the X-35, which later became the F-35. One of the biggest causes of Boeing's loss in this case was that the X-32 had issues with its vertical/short takeoff-and-landing (V/STOL) design, reports noted. In a move that will prove welcome for aviation history buffs, the two X-32s produced—which are still apparently airworthy—have been preserved at the National Museum of the United States Air Force. That institution is found at Wright-Patterson Air Force Base near Dayton, Ohio. Interestingly, the museum also houses another early stealth technology demonstrator craft, the YF-118G Bird of Prey. Is Boeing a Good Stock to Buy Right Now? Turning to Wall Street, analysts have a Strong Buy consensus rating on BA stock based on 17 Buys, two Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 28.57% rally in its share price over the past year, the average BA price target of $240 per share implies 4.83% upside potential.
New Straits Times
5 days ago
- Business
- New Straits Times
Gulf Air orders 12 Boeing 787 Dreamliners
SAN FRANCISCO, United States: US aviation giant Boeing on Thursday signed a contract worth billions of dollars to sell 12 787 Dreamliners, with options for six more, to Gulf Air, as the Bahrain-based carrier looks to expand its global network. The order comes one month after an Air India Boeing 787 crashed shortly after take-off, killing a total of 260 people on the plane and on the ground. "Once finalised, this order will bring the carrier's firm order book to 14 of the versatile wide-body jets and will support 30,000 jobs across the US," the companies said in a joint statement. The official Bahrain News Agency said the kingdom's national carrier had signed a US$4.6 billion agreement for 18 Boeing 787 Dreamliners. The US Commerce Department put the value of the 18 planes at US$7 billion. The deal "marks a transformative step in Gulf Air's strategic growth journey as we expand our global footprint and modernise our fleet with one of the industry's most advanced and efficient aircraft," said Gulf Air Group chairman Khalid Taqi. "The Boeing 787 Dreamliner has proven to be an exceptional aircraft for our long-haul operations, and this new order reflects our confidence in its performance, passenger appeal and contribution to our sustainability goals." Boeing delivered 150 commercial aircraft in the second quarter, its highest number of deliveries in that quarter since 2018. That was just before two 737 MAX crashes in October 2018 and March 2019 – which killed 346 people – plunged the company into crisis. The Air India jet bound for London crashed in the Indian city of Ahmedabad on June 12. A preliminary investigation report revealed that fuel control switches were switched off shortly after take-off. Boeing has not been asked to take any action as the probe continues. US President Donald Trump on Tuesday announced a trade pact with Indonesia that limits tariffs on Indonesian products at 19 per cent, and said the deal features a pledge from the country to buy 50 Boeing jets, "many of them 777s."
NDTV
5 days ago
- Business
- NDTV
Gulf Air Orders 12 New Boeing And 787 Dreamliners
US aviation giant Boeing on Thursday signed a contract worth billions of dollars to sell 12 787 Dreamliners, with options for six more, to Gulf Air, as the Bahrain-based carrier looks to expand its global network. The order comes one month after an Air India Boeing 787 crashed shortly after takeoff, killing a total of 260 people on the plane and on the ground. "Once finalised, this order will bring the carrier's firm order book to 14 of the versatile wide-body jets and will support 30,000 jobs across the US," the companies said in a joint statement. The official Bahrain News Agency said the kingdom's national carrier had signed a $4.6 billion agreement for 18 Boeing 787 Dreamliners. The US Commerce Department put the value of the 18 planes at $7 billion. The deal "marks a transformative step in Gulf Air's strategic growth journey as we expand our global footprint and modernise our fleet with one of the industry's most advanced and efficient aircraft," said Gulf Air Group chairman Khalid Taqi. "The Boeing 787 Dreamliner has proven to be an exceptional aircraft for our long-haul operations, and this new order reflects our confidence in its performance, passenger appeal and contribution to our sustainability goals." Boeing delivered 150 commercial aircraft in the second quarter, its highest number of deliveries in that quarter since 2018. That was just before two 737 MAX crashes in October 2018 and March 2019 -- which killed 346 people -- plunged the company into crisis. The Air India jet bound for London crashed in the Indian city of Ahmedabad on June 12. A preliminary investigation report revealed that the fuel control switches were switched off shortly after takeoff. Boeing has not been asked to take any action as the probe continues. US President Donald Trump on Tuesday announced a trade pact with Indonesia that limits tariffs on Indonesian products at 19 percent, and said the deal features a pledge from the country to buy 50 Boeing jets, "many of them 777s." (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
