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Boeing announces major order for 777 and 747 freighters from Volga-Dnepr #FIA18

Boeing started the second day at the 2018 Farnborough Airshow by announcing an order for five 747-8 freighters and 29 777 freighters from Volga-Dnepr. The order is valued at list prices of $11.8 billion which comprises of $2 billion for the 747-8s and $9.8 billion for the 777s.

The company also announced agreements to optimize the cargo operators airplane fleet and global operations, to purchase a crew pairing solution, and an agreement to work together on future freighter projects.

Alexey Isaykin, President of Volga-Dnepr Group and Chairman of CargoLogicHolding
“This is a very significant day in our company’s history. With this package of agreements, we will grow our business with the unique and unmatched 747-8 Freighter and open new market opportunities with the 777 Freighter, the world’s longest range twin-engine cargo jet, And we will work with Boeing to develop new freighter solutions that will help us continue to serve the unique and fast-changing requirements of our global customers.

We are true believers in the 747-8 Freighter, it is a very special airplane. We fly it every day and we understand why operators around the world want more of them,”

With the demand in the air freight market growing (demand grew nearly 10 percent last year). Boeing which controls 98% of the freighter market share has already picked 53 orders for freighters during the first two days of the show.

Kevin McAllister, president and chief executive officer, Boeing
“We are extremely honored that Volga-Dnepr Group and CargoLogicHolding have once again placed their trust on Boeing’s freighter family to carry their business into the future. We look forward to expanding our relationship with our great partners and delivering new freighters to them for many years to come,”

The order will also provide a much needed boost to the aging 747 program. With only 0.5 aircraft being produced a month any order keeps the program going longer.

In contrast rival Airbus which only has the A330 freighter on offer has failed to pick up even a single freighter order and with many existing A330-200 freighters coming on to the used markets – new orders for the type are unlikely.

About Vedant Agarwal

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