Emirates Seals Deal on $56 Billion Order for Boeing's 777X Planes

Emirates airline has finalized an order for 150 Boeing 777X planes, worth $56 billion at list prices. Boeing said in a statement that the deal also includes purchase rights for another 50 planes that could boost the value to about $75 billion at list prices. The deal follows Emirates' cancellation in June of a $16 billion order to buy 70 Airbus A350 planes. Boeing said the 777X would be about 12% more fuel-efficient than competing jets and have 10% lower operation cost. Emirates President Tim Clark said the 777X is due for delivery in 2020 and will provide the airline operational flexibility, more passenger capacity and fuel efficiency.