Boeing and Airbus sign supply deals with Abu Dhabi firms

18th Nov 2013 14:24

Boeing and Airbus have signed deals to buy 5bn dollars-worth of parts and materials from Abu Dhabi following the Dubai Airshow on Sunday. Boeing said on Monday it has signed a new deal with Abu Dhabi's state investment fund Mubadala for $2.5bn in advanced composites and machine metals. The company has also made an agreement with Abu Dhabi manufacturing company Tawazun Precision Industries to set up a facility in the United Arab Emirates for producing aerospace parts.Airbus agreed a deal with Mubadala to expand their relationship for further composite and metallic aerostructure production in the United Arab Emirates.On Sunday Boeing's planned 777X long-haul airliner grabbed the bulk of orders at the first day of the Dubai Airshow, with at least 225 planes on the books. Boeing said that it netted a total of at least 367 orders in deals believed to exceed $130bn. The planemaker received orders for 150 777X aircraft from Emirates, 50 from Qatar Airways and 25 from Abu Dhabi's Etihad Airways.Airbus announced a $23bn order for 50 A380s - its main competition for the 777X - from Dubai-based Emirates.Shares in Boeing were up 3% to $140.50 at 14:45 on Monday.RD