Emirates Orders A380s Worth $9 Billion

Dubai-based airline throws A380 project a lifeline and also arranges $1 billion sukuk with HSBC and Citi

- Archana Narayanan & Arif Sharif

UAE carrier Emirates agreed to buy 20 Airbus SE A380 superjumbos worth $9 billion at list prices, sealing a vital order for a programme that the manufacturer said earlier could be terminated following a sales drought.

Dubai-based Emirates signed a memorandum of understanding for the planes and also has options to buy 16 more, the carrier said Jan. 18 in a statement. The aircraft will be delivered from 2020, with engine options still under evaluation.

Already by far the biggest A380 customer, Emirates had repeatedly stalled on the follow-on deal, putting the future of the double-decker in doubt after it failed to win any new orders for two years. If the airline takes all of the planes the purchase will safeguard production through 2029, an Airbus spokesman said.