Gulf Air Seals Multi-Billion Dollar Deal for Up To 18 Boeing Dreamliners
Gulf Air, the Kingdom of Bahrain's national airline, has announced a landmark agreement with Boeing for the acquisition of 12 new 787 Dreamliner aircraft, with options for an additional six, in a deal valued at up to US$4.6 billion. This significant order, unveiled during a high-profile state visit by Bahrain's Crown Prince Salman bin Hamad Al Khalifa to the United States, signals a pivotal moment in Gulf Air's ambitious strategy to modernize its fleet and substantially expand its global reach.
The agreement was formally inked in Washington D.C., in a ceremony attended by key figures including Bahrain's Minister of Finance and National Economy, Shaikh Salman bin Khalifa Al Khalifa, U.S. Commerce Secretary Howard Lutnick, and top-tier executives from both Boeing and Gulf Air.
Boosting Capacity and Global Reach
Khalid Hussain Taqi, Chairman of Gulf Air Group, hailed the substantial investment in the Boeing 787 Dreamliner as a "transformative step" that is projected to boost the airline's passenger capacity by more than 20%.
"The Boeing 787 Dreamliner has consistently proven its excellence in our long-haul operations," stated Taqi. "This new order not only affirms our confidence in its superior performance, passenger appeal, and contribution to our sustainability objectives but also reinforces Bahrain's growing stature as a crucial global aviation hub."
The 787 Dreamliner is renowned for its exceptional fuel efficiency, impressive extended range, and superior passenger comfort – features that make it an ideal choice for Gulf Air as it actively seeks to broaden its international footprint. Gulf Air currently operates a fleet of 10 Boeing 787-9s, which form the backbone of its long-haul routes connecting over 50 destinations across Asia, Europe, and North America. The imminent addition of these new aircraft will enable Gulf Air to venture into untapped markets and increase the frequency of flights on existing popular routes.
A Partnership Soaring for Over Six Decades
For Boeing, this latest deal further solidifies its enduring partnership with Gulf Air, a relationship that spans over 60 years, tracing back to the airline's first DC-3 delivery in 1961. Stephanie Pope, President and CEO of Boeing Commercial Airplanes, conveyed her enthusiasm for the continued collaboration.
"This significant investment in the 787 Dreamliner vividly demonstrates Gulf Air's commitment to embracing new technology and fostering sustainable development," Pope remarked. She also underscored the substantial economic impact of the order, projecting that it will support an estimated 30,000 jobs across the United States.
Strategic Implications and Future Horizons
Beyond the direct aircraft acquisition, the order is part of a broader framework of investments by Bahrain in the United States, underscoring the deepening economic and trade ties between the two nations. In a forward-looking move, Gulf Air and Boeing have also signed a Memorandum of Understanding (MoU). This MoU outlines a joint exploration into establishing in-Kingdom aircraft Maintenance, Repair, and Overhaul (MRO) capabilities, aligning with Bahrain's national objectives of promoting sustainability, economic diversification, and strengthening its position as a premier regional aviation hub.
The timing of this momentous order coincides perfectly with Gulf Air's recent announcement of a new direct flight to New York's John F. Kennedy International Airport (JFK), set to commence on October 1, utilizing its existing 787-9 Dreamliner fleet. This service marks Gulf Air's return to US skies after a hiatus of over 25 years, signifying a renewed and robust focus on expanding its North American presence.
Once all options are exercised and the deal is finalized, Gulf Air's firm order book for widebody jets will stand at 14 Dreamliners, solidifying its unwavering commitment to fleet modernization and an ambitious expansion phase in the years to come.
