Shaikh Mohammad opens Dubai Airshow

His Highness Shaikh Mohammad bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Sunday inaugurated Dubai International Airshow 2011 at Dubai Airport Expo Centre.

Gen Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubaiand Chairman of Dubai Executive Council, Shaikh Maktoum bin Mohammed bin RashidAl Maktoum, Deputy Ruler of Dubai and Chairman of the Dubai Technology and Media Free Zone Authority, Crown Princes of the Emirates, and King Juan Carlosof Spain were also present on the occasion.

On the opening day of the airshow, Emirates announced orders and commitments valued at $26 billion for Boeing Co’s777 planes. The agreement includes firm orders for 50 aircraft valued at $18billion, and the rest as options, Emirates Chairman Shaikh Ahmed bin Saeed Al Maktoum said.

“Deliveries will start in 2015,and the Dubai-based carrier will retire some older aircraft,” he said. The airline is considering a varietyof financing options, including EU and US export credit, he said.

The airline alsoreached an agreement with DAE Capital to lease nine new Boeing 777 freighterson long-term basis. These aircraft are from DAE’s order book with Boeing and will deliver in the 2012-15 time frame, according to a statement.

Running until Thursday at the Dubai Airport Expo, the show now in its 22^nd year. It is firmly established as a key event on the international aerospace calendar consistently delivering key buyers and decision makers — offering unrivalled access to the Middle East aerospace market in a highly focused environment.

Dubai Airshow 2009 drew 52,978 trade visitors from around the world - with a particularly high turnout fromthe UAE and the wider Middle East region, this year’s show is the biggest yet,with nearly 55,000 trade visitors attending during the week and up to 30,000visitors expected on the first day alone.

The airshow will see the two rival aircraft manufacturers Airbus and Boeing fight forsupremacy and expand their market share that is expected to cross $450 billion,or Dh1.65 trillion involving the sale of more than 2,500 aircraft in the next20 years.