Prince Alwaleed bin Talal bin Abdulaziz Alsaud, centre, signs for an Airbus A380 , for his personal use during Dubai Airshow 2007

Airbus and Boeing announced more huge orders for airliners Monday at the Dubai Airshow.

Dubai Aerospace Enterprises, an aircraft leasing company, signed letters of intent to buy 100 planes from Airbus and another 100 from Boeing. Those two deals are worth more than $27 billion.

Soaring oil prices have triggered an economic boom in oil-rich Gulf states, allowing them to greatly expand their airline fleets. Some Persian Gulf nations want larger airlines as they try to turn their area into a hub for aviation, finance, and tourism.

On Sunday, Dubai-based airline Emirates said it bought 70 mid-sized Airbus planes, with an option to buy 50 more. Emirates also announced 11 firm orders for the Airbus A-380 superjumbo.

Emirates signed a separate deal with Boeing, Airbus' main rival, to buy 12 long-range jets.

Boeing also took an order from Qatar Airways, which bought 30 mid-sized jets and took options to buy 30 more. Qatar Airways said it will buy 27 Boeing planes.

Some information for this report was provided by AFP, AP and Reuters.