Boeing has today launched the new 777-8 Freighter and announced a firm order for 34 jets and options for 16 more from Qatar Airways in a deal valued at over $20 billion at list prices. The order represents the largest freighter commitment in Boeing’s history by value.
On Monday (January 31), Boeing announced the launch of the 777-8 Freighter, accompanied by a firm order of 34 jets and 16 options from Qatar Airways’ in a deal valued at up to $20 billion, the largest freighter commitment in the company’s history by value. The latest addition to the Boeing 777X Family, the 777-8 Freighter will be the world’s largest twin-engine cargo jet, with a payload capacity nearly identical to a 747-400 Freighter, while delivering a 25 percent reduction in fuel consumption, emissions and operating costs. Additionally, Boeing and Qatar Airways have signed a Memorandum of Understanding (MoU) for up to 50 Boeing 737-10s, the largest MAX Family jet.
In Monday’s announcement, Qatar Airways Group’s Chief Executive, His Excellency, Mr. Akbar Al Baker, said,
“Boeing has a long history of building market-leading freighter aircraft and Qatar Airways is honored to have the opportunity to be the launch customer for the 777-8 Freighter, an aircraft which will not only allow us to further enhance our product offering for our customers, but also help us meet our objectives to deliver a sustainable future for our business. Today marks a great day in the ever-building and strong relationship between Qatar Airways and Boeing. We certainly push Boeing hard to deliver upon our expectations, and the team at Boeing consistently strives to meet and exceed our expectations, giving the opportunity for us to be here today to launch the most significant new freighter aircraft for a generation.
Commenting on the separate 737-10 MAX Memorandum of Understanding, H.E. Mr. Akbar Al Baker added,
“Qatar Airways very much looks forward to adding the 737-10 to its fleet, with this new variant of the 737 being ideally suited to our short-haul network, allowing us an opportunity to further enhance our product offering for our customers, modernize our fleet and operate the most efficient aircraft in its category.”
Also commenting on the substantial order, Boeing Commercial Airplanes’ President and CEO, Stan Deal, said in part,
“We are delighted to launch Boeing's next great cargo airplane – the 777-8 Freighter – with Qatar Airways, one of the world's largest cargo carriers and our partner since the airline began operations 25 years ago. Our team is ready to create an airplane that will serve them well for many decades. Qatar Airways’ selection of the efficient 777-8 Freighter is a testament to our commitment to provide freighters with market-leading capacity, reliability and efficiency. We are proud that Boeing provides over 90% of the world's dedicated freighter capacity. With global supply chains under pressure and high demand for e-commerce, the performance and capabilities of the fleet is more important than ever.”
The Boeing 777-8 Freighter is being designed to maximize efficiency and environmental performance. The 777X Family of jets feature engineering design improvements and innovative technologies, including a new carbon-fiber composite wing and new fuel-efficient engines. The new freighter will offer a range of 4,410 nautical miles (8,167 km) and a maximum structural payload of 118 tonnes, allowing operators to make fewer stops on long-haul routes, thereby reducing landing fees. Boeing will build the 777-8 in their Everett, Washington factory, where the company has invested over $1.0 billion in support of 777X production.
As part of today’s order, Qatar Airways will convert 20 of their 60 777X Family aircraft on order to 777-8 Freighters. The carrier has also ordered two current 777 Freighters, to capitalize on the burgeoning international air cargo market. Since the program launched in 2005, customers from around the world have ordered over 300 777 Freighters, the company’s best-selling freighter of all time.
As previously mentioned, Qatar Airways has also signed a MoU for a firm order for 25 Boeing 737-10s and purchase rights for an additional 15 airplanes in a deal valued at of to $7.0 billion at list prices. The largest member of the MAX Family, the 737-10 seats up to 230 passengers in a single-class configuration and can fly up to 3,300 nautical miles, a range that can cover 99 percent of the single-aisle routes around the world.