What is the $200 bn deal between US aerospace and Qatar Airways
In a historical move, Qatar Airways signed a massive deal with US-based Boeing to purchase 160 jets, worth $200 billion. This comes during US President Donald Trump‘s visit to the Gulf nation.
Trump and Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani were present during the signing ceremony of the agreement in Doha.
“So it’s over $200 billion but 160 in terms of the Jets, that’s fantastic,” Trump said, adding, “So that’s a record, Kelly, then congratulations to Boeing”, referring to Boeing CEO Kelly Ortberg, who was also present.
“It’s the largest order of jets in the history of Boeing. That’s pretty good,” Trump added.
Deal explained
The historic deal between the US-based company and Qatar Airways, is the largest in Boeing’s history, which further underscores the airline’s expansion plans.
The deal will support 154,000 US jobs annually and more than 1 million total domestic jobs over the course of production and delivery of the planes, according to a White House fact sheet.
Boeing has not reported a profit since 2018, hence the deal could be a boom for Boeing.
“We’re going to see some of it in action tomorrow…. it’s going to be an air fair,” Trump said during a meeting with the country’s leaders.
During his visit to Qatar, Trump hailed what he called a “very special relationship” with Qatar, even likening one royal to Saudi Crown Prince Mohammed bin Salman, calling both men “tall handsome guys.”
Also read: ‘Only a fool would not accept’: Qatar’s $400 million luxury plane gift to Trump is all about money
Meanwhile, on Tuesday, Qatar offered to give Trump a luxurious upgraded Boeing 747-8, worth $400 million. However, the US president said that the Defense Department is getting a gift “free of cost.”
Calling it a “very public and transparent transaction”, Trump said that a 747 aircraft will “replace the 40-year-old Air Force One, temporarily.”
This luxurious ‘flying palace’ Boeing 747-8 jumbo will be among the most expensive gifts ever given to the US by a foreign government.
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