'Largest order of jets in Boeing history': 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.

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"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.”

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.