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The Boeing Co. announced Tuesday that Ethiopian Airlines has agreed to buy 31 jets — with an option for 36 more — to make the largest order of Boeing planes from the African continent.
That means more fuselage work on the 787-9 Dreamliner and 737-8 Max at Wichita's Spirit AeroSystems (NYSE: SPR).
Tuesday's announcement from the Dubai Airshow comes a day after Boeing (NYSE: BA) announced orders of more than 100 jets to carriers from Middle East and Asian countries.
Ethiopian Airlines expects to purchase 11 Dreamliner and 20 Max airplanes. The company spoke of purchasing 15 more 787s and 21 more 737s.
"This order will enable us to modernize and increase our fleet in support of Ethiopian Airlines' growth plan and our Vision 2035 Strategy," Ethiopian Airlines Group CEO Mesfin Tasew said in a release. "Through this deal, we have solidified our decades-old exemplary business partnership with Boeing. The 787 Dreamliner and 737 Max demonstrate Ethiopian Airlines' environmentally conscious decisions and its commitment to serve passengers with the latest technologically advanced airplanes."
The 787-9 variant can transport slightly less than 300 passengers. The 737-8 model can hold 210 passengers.
Spirit constructs about 70% of the Boeing 737 in the Air Capital, including the full fuselage. The company also builds a fully-integrated fuselage for the 787.
Ethiopian Airlines currently has 80 Boeing jets and operates Africa's largest Dreamliner fleet, having a mix of both 787-8s and 787-9s. The new 737 Max order increases the airline's backlog for this jet to 50 orders.
Boeing will provide cabin changes to the carrier's current 787 Dreamliners.
Boeing's commercial market outlook forecast expects most of the commercial deliveries to Africa in the next two decades to be single-aisle jets. The growth rate for air-traffic in the region is expected to increase by more than 7% by 2042.
Ethiopian Airlines is Africa's largest airline brand and its fastest-growing airline. The carrier also has Airbus and Bombardier planes in its fleet.
Oman Air Cargo also announced an order for a Boeing plane at Dubai. The 737-800 Boeing Converted Freighter is the first dedicated cargo aircraft for the 14-year-old company.
The cargo volume for Oman Air Cargo increased by more than 40% during the first half of 2023. The 737-800 can carry about 23 tons of freight.
Boeing stock continued to rise early Tuesday after the additional order announcements. The stock climbed after the company's announcements Monday of plane sales to airlines in the Middle East, including a $52 billion deal with Emirates, a flag carrier airline that operates from the United Arab Emirates.
Boeing stock entered the week at $196.40 and finished Monday at $205.24. It was at $206.31 at 11:15 a.m. CT Tuesday.