Doha: In a major boost to U.S. aerospace and trade relations, Boeing has clinched a record-breaking aircraft deal with Qatar Airways, marking a key achievement during President Donald Trump’s trade-focused visit to the Gulf region. The announcement sent Boeing shares soaring by 2%, hitting a 52-week high on Wednesday.
The deal, valued at $96 billion, involves the purchase of 130 Boeing 787 Dreamliners and 30 of the new-generation 777X aircraft. Boeing described it as the largest widebody order in the company’s history and the biggest aircraft purchase ever made by Qatar Airways.
The agreement is part of a broader $243.5 billion package of commercial and defense deals signed between the United States and Qatar during Trump's visit. The White House hailed the outcome, stating the deals would "drive innovation and prosperity for generations," while enhancing American industrial competitiveness and technological leadership.
This development follows a similarly massive $600 billion investment partnership sealed with Saudi Arabia earlier in the week. As President Trump heads to the UAE later today, speculation is mounting that Emirates, the Gulf’s largest carrier, may also announce new orders, possibly expanding Boeing's winning streak in the region.
Qatar Airways CEO Engr. Badr Mohammed Al-Meer praised the partnership, noting that the new aircraft will enable the airline to deliver unmatched efficiency and customer experience. "We're building strength, not just scale," he said, while commending Boeing for their continued cooperation.
Boeing CEO Kelly Ortberg, who is accompanying the president on his Middle East tour, called the deal a "historic milestone" that will help support nearly 400,000 American jobs. Boeing also inked a $4.8 billion deal on Tuesday with AviLease, a Saudi aircraft leasing company, for 737-8 MAX jets.
Despite these wins, Boeing continues to navigate challenges. The 737 MAX model has faced multiple global groundings due to safety and production issues and the company has not turned a profit since 2018. Earlier this year, its shares hit a multi-year low after Trump introduced new reciprocal tariffs. In retaliation, China suspended all Boeing orders in late April. However, Ortberg hinted that aircraft originally meant for Chinese buyers might be redirected to other markets.
Meanwhile, Trump’s visit to Saudi Arabia also yielded an $80 billion artificial intelligence investment plan, boosting investor sentiment in U.S. tech stocks, including Nvidia. The move came just as the administration overturned an AI diffusion rule introduced under former President Biden, which was set to begin today.
