- Purchase reflects rising confidence in air cargo market and Boeing's industry-leading freighter family
Boeing [NYSE: BA] and Qatar Airways finalized an order for five 777 Freighters at the 2018 Farnborough International Airshow. The deal, valued at $1.7 billion at current list prices, was announced as a commitment in April.
The announcement was attended by the State of Qatar's Minister of Finance and Qatar Airways Chairman, His Excellency Ali Shareef Al Emadi.
"I am delighted to be further enhancing our cargo fleet and adding five Boeing 777 Freighter aircraft," said Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker. "In the past 15 years, Qatar Airways Cargo has grown steadily and globally, becoming the third largest in the world. We could not have achieved this success without our resilient relationship with Boeing."
Qatar Airways, one of the world's top cargo carriers, operates a fleet of 13 777 Freighters and two 747-8 Freighters. With this latest order, the airline is set to grow its Boeing Freighter fleet to more than 20 jets.
"We are proud that Qatar Airways recognizes the value of the 777 Freighter and continues to invest in this aircraft to serve its expanding freight operations," said Boeing Commercial Airplanes President & CEO Kevin McAllister. "We continue to see a resurgence in the air cargo market and we are confident that Boeing's industry-leading freighter family is well positioned to meet our customers' requirements."
Boeing has now sold 65 widebody freighters in 2018, and more than 180 widebody freighters since the start of 2014, which equates to a 98-percent share of the market. In that same time, Boeing has delivered more than 140 wide-body freighters, which translates to a 92 percent share of deliveries.
The 777 Freighter is capable of flying 4,900 nautical miles (9,070 kilometers) with a payload of 112 tons (102 metric tonnes or 102,000 kg). The airplane's long range translates into significant savings as fewer stops mean lower landing fees, less congestion, lower cargo handling costs and shorter delivery times.
Qatar Airways also uses Boeing Global Services to improve its offering for its customers. The airline uses services products such Maintenance Performance Toolbox, Airplane Health Management and flight deck solutions, all powered by Boeing AnalytX.