BOEING

Boeing Launches 777-8 Freighter to Serve Growing Demand for Cargo, Enhanced Environmental Performance

• Qatar Airways, one of the world’s largest cargo carriers, orders up to 50 777-8 Freighters, expanding its commitment to the Boeing 777X family
• 777-8 Freighter will be world’s largest twin-engine cargo jet with the most payload capacity and a 25% improvement in fuel efficiency, emissions and operating costs
• U.S. Commerce Secretary Gina Raimondo and His Excellency, Ambassador Sheikh Mishaal bin Hamad Al Thani, and Director of the White House National Economic Council Brian Deese witness the record order signing during White House ceremony
• Boeing and Qatar Airways also sign Memorandum of Understanding for up to 50 737-10s, the largest 737 MAX jet

Boeing launched the new 777-8 Freighter and expanded its market-leading 777X and freighter families of jetliners with an order for up to 50 aircraft from one of the world’s largest cargo carriers, Qatar Airways.

Qatar Airways will be the 777-8 Freighter launch customer with a firm order for 34 jets and options for 16 more, a total purchase that would be worth more than $20 billion at current list prices and the largest freighter commitment in Boeing history by value. The order also supports hundreds of U.S. suppliers from across 38 states, will sustain more than 35,000 U.S. jobs, and provide the American economy with an annual estimated economic impact of $2.6 billion during the contract’s delivery period.

Featuring advanced technology from the new 777X family and the proven performance of the market-leading 777 Freighter, the 777-8 Freighter will be the largest, longest-range and most capable twin-engine freighter in the industry. With payload capacity nearly identical to the 747-400 Freighter and a 25% improvement in fuel efficiency, emissions and operating costs, the 777-8 Freighter will enable a more sustainable and profitable business for operators.

At the White House, Commerce Secretary Gina Raimondo, His Excellency Ambassador Sheikh Mishaal bin Hamad Al Thani, Director of the White House National Economic Council Brian Deese, and Boeing President and CEO Dave Calhoun joined the formal signing by Boeing Commercial Airplanes President and CEO Stan Deal and Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker, who reaffirmed the airline’s commitment to the 777X family with the record-breaking 777-8 Freighter deal. First delivery of the new freighter is anticipated in 2027.

Boeing is designing the 777-8 Freighter, the newest member of the 777X family, to maximize efficiency and environmental performance. The widebody family features engineering design improvements and innovative technologies, including a new carbon-fiber composite wing and new fuel-efficient engines. With a range of 4,410 nautical miles (8,167 km), the 777-8 Freighter has a maximum structural payload of 118 tonnes, allowing customers to make fewer stops and reduce landing fees on long-haul routes.

Boeing will build the 777-8 Freighter in its Everett, Wash., factory. The company has invested more than $1 billion into the Everett site to support 777X production and sustain thousands of local jobs for decades to come.

As part of the agreement, Qatar Airways will convert 20 of its 60 777X family orders to the 777-8 Freighter. Qatar Airways is also ordering two current 777 Freighters – Boeing’s best-selling freighter of all time – to capitalize on the buoyant air cargo market. Customers from around the world have ordered more than 300 777 Freighters since the program began in 2005.

Boeing and Qatar Airways also signed a Memorandum of Understanding for a firm order of 25 737-10 aircraft and purchase rights for 25 additional airplanes. The total value of this 737-10 commitment is nearly $7 billion at current list prices. The largest model in the MAX family, the 737-10 seats up to 230 passengers in a single-class configuration and can fly up to 3,300 miles. The fuel-efficient jet can cover 99% of single-aisle routes around the world.

Boeing Financial Summary:

Boeing recorded $4.3b net loss on $62b revenues in 2021 vs $11.9b loss on $58b in 2020; Commercial Airplanes took a $3.5b pre-tax non-cash charge on the 787 program, which is currently producing at a very low rate and expected to do so until deliveries resume, with an expected gradual return to five per month over time. Boeing is presently producing 26 737s per month.

More Boeing News:

Boeing and China Airlines  announced the Taiwan flag carrier has ordered four 777 Freighters, adding to its extensive fleet of Boeing airplanes. Valued at $1.4 billion at list prices, the order will enable the airline to capture new market opportunities as global air cargo demand continues to grow.

The 777 Freighter is the world’s largest, most capable twin-engine Freighter. It has a range of 4,970 nautical miles (9,200 km) with a maximum revenue payload of 102 tonnes (224,900 lbs), while contributing to a 17% reduction in fuel use and CO2 emissions per tonne compared to prior generation airplanes. In addition, the 777F will allow China Airlines to make fewer stops on long-haul routes, further reducing associated landing fees and resulting in the lowest trip cost of any large freighter.

In 2021, China Airlines’ air cargo revenue was up 186% above the pre-pandemic year of 2019, which nearly balanced out a 96% drop in passenger revenue. Last year China Airlines Cargo recorded the best year in its history – over TWD 100 billion (USD $3.6 billion) in revenue – by leveraging its existing all-Boeing fleet of (18) 747-400 Freighters and (3) 777 Freighters. With (3) 777 Freighters already on order, China Airlines’ 777 Freighter is the perfect complement to the airline’s existing 747-400 Freighter fleet, seamlessly accommodating the 3-meter (10-foot) tall pallets and maximizing flexibility for its air cargo operations.

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OTHER NEWS

• This is just an amazing story: An Air Stewardess Fell 33,000 Feet And Lived To Tell The Tale 50 Years Ago Today

January 2021– Boeing and FedEx Express today announced a new order for 12 767 Freighters and 12 777 Freighters as the world’s largest air cargo carrier continues to invest in the industry’s most capable freighters to better serve its customers.

“We are taking another positive step in our fleet modernization program as we add more efficient, lower emission aircraft to our global fleet,” said David L. Cunningham, President and CEO of FedEx Express. “The Boeing 767 and 777 Freighters have brought greater efficiency and reliability to our air operations. The 777, with its tremendous range characteristics, has allowed us to provide faster transit times around the globe. We are excited to add more of these aircraft to our fleet.”

The new airplanes, valued at $6.6 billion at list prices, will appear on Boeing’s Orders and Deliveries webpage once contingencies have been met.

This order comes as the air cargo industry continues to gather strength. A year after demand grew by nearly 10 percent, global air freight is on track to increase by another four to five percent in 2018.

Air cargo carriers are adding capacity to keep up with demand, either by converting passenger airplanes into freighters or ordering new production cargo jets. With the latest order from FedEx Express, Boeing has sold more than 50 widebody freighters in 2018.

“We are honored that FedEx has again placed its trust on the wings of the Boeing 767 and 777. This repeat order is a big vote of confidence in Boeing’s market-leading freighter family and the long-term outlook for air freight,” said Kevin McAllister, president and chief executive officer, Boeing Commercial Airplanes.

FedEx Express and Boeing have a long-standing partnership. The express carrier is a major operator of the Boeing 757 Freighter and the largest operator of the 767 Freighter and 777 Freighter. FedEx is also a customer of Boeing’s Global Services business.