Boeing and GE Aerospace have reached a monumental agreement, valued at $96 billion, to provide Qatar Airways with up to 210 aircraft, as stated by the White House on Wednesday.
This landmark deal, involving the 787 Dreamliner and 777X aircraft equipped with GE engines, represents Boeing’s largest-ever order for widebody jets and specifically for the 787 model, according to the announcement from the White House.
The agreement was finalized during President Donald Trump’s official visit to Qatar, accompanied by the emir of Qatar.
The White House’s fact sheet highlighted that this arrangement is poised to support approximately 154,000 jobs annually in the United States, contributing to over 1 million domestic jobs throughout the manufacturing and delivery processes.
Further specifics regarding the transaction remain unclear, as Boeing has not yet responded to inquiries from Finance Newso.
Boeing CEO Kelly Ortberg joined Trump at the Amiri Diwan in Doha for the ceremony marking the signing of this significant aircraft deal.
“This is the largest order of jets in the history of Boeing,” Trump remarked following Ortberg’s signing of the agreement.
The contract may provide a much-needed boost for Boeing, which has struggled to turn a profit since 2018.
The aircraft manufacturer has faced substantial challenges, including safety concerns, manufacturing defects, cost overruns, and a two-month-long strike involving machinists last year.
Additionally, Boeing’s business has been impacted by Trump’s trade policies, with airlines in China halting the acceptance of Boeing deliveries in response to U.S. tariffs, a situation that Ortberg highlighted last month.
However, the company has recently managed to reduce its losses as it works through a backlog exceeding $500 billion, according to Ortberg during Boeing’s first-quarter earnings report.
This newly announced transaction is expected to nearly double Qatar Airways’ existing fleet of 233 aircraft, as indicated on the airline’s website.
This is breaking news. Please refresh for updates.
— Finance Newso’s Michele Luhn contributed to this report.
