Boeing, Qatar Airways Announce Order for 2 Boeing 777 Freighters

Boeing (NYSE: BA) and Qatar Airways today announced an order for two Boeing 777 Freighters at the 2011 Dubai Air Show. Valued at $560 million at current list prices, the airplanes will increase the airline's 777 Freighter fleet to eight when delivered. "As we accelerate efforts to boost our global cargo network, we are expanding our fleet with airplanes like the Boeing 777 Freighter that allow us to deliver cargo further and more efficiently than ever before," said Akbar Al Baker, CEO, Qatar Airways. "The 777 Freighter has already proven itself with its impressive operating economics and is a critical component of our cargo fleet, enabling the launch of three new dedicated freighter services to Atlanta, Houston and Toronto, from our hubs in Doha and Luxembourg." Qatar Airways currently operates 28 Boeing 777s of various types, including 16 777-300ERs (extended range), three 777 Freighters and nine 777-200LRs. It recently took delivery of its 100th airplane which was a Boeing 777-200LR (longer range). By 2013, the airline plans to serve more than 120 destinations worldwide with a fleet of over 120 aircraft. The airline currently has a fleet of 100 aircraft flying to over 100 destinations. "Qatar Airways' decision to invest in expanding its 777 Freighter fleet is an important endorsement for the aircraft from one of the world's fastest growing airlines," said Marty Bentrott, vice president, Sales - Middle East, Russia, Central Asia, Boeing Commercial Airplanes. "Qatar Airways' expansion strategy is clearly built on the principle of delivering cargo efficiently from one point to another and its choice of the 777 Freighter, with its unparalleled capabilities, reflects that."

Source: The Boeing Company (NYSE: BA)
Date: Nov 15, 2011