Boeing, Qatar Airways Finalize Order for Five 777 Freighters

Signing ceremony witnessed by U.S. President Trump and the Emir of Qatar

Boeing [NYSE: BA] and Qatar Airways finalized an order for five Boeing 777 Freighters during a ceremony at the White House on July 9.

The signing ceremony was witnessed by U.S. President Donald Trump and His Highness, Sheikh Tamim bin Hamad Al Thani, the Emir of Qatar and included His Excellency Mr. Akbar Al Baker, CEO of Qatar Airways Group and Kevin McAllister, President and CEO, Boeing Commercial Airplanes.

The purchase, worth $1.8 billion at current list prices, was first signed as a Memorandum of Understanding at the Paris Air Show in June.

“It is an honor to be signing this agreement today with Qatar Airways, who has been our long-haul partner for more than 20 years,” said McAllister. “As one of the world’s leading air cargo carriers, we are delighted that Qatar Airways continues to expand its freighter fleet with the 777 Freighter and we deeply appreciate their business and positive impact on Boeing, our employees, suppliers and communities.”

Qatar Airways has rapidly grown its air cargo operations to serve more than 60 global destinations, becoming one of the top international air freight operators in the world. The latest freighter deal builds on the airline’s 777 Freighter order book as the airplane has become the backbone of Qatar Airways freighter fleet. It currently operates 23 freighters, including 16 Boeing 777 Freighters.

The 777 Freighter is the world’s largest and most capable twin-engine freighter. It can fly 4,970 nautical miles (9,200 kilometers) with a payload of 224,900 lbs (102,010 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.

Customers from around the world have ordered more than 200 777 Freighters since the program began in 2005, including a record 45 units in 2018. Boeing is the air cargo market leader, providing over 90 percent of the dedicated freighter capacity around the world.

Qatar Airways also uses Boeing Global Services digital solutions, including Maintenance Performance Toolbox, and Airplane Health Management and flight deck solutions powered by Boeing AnalytX. These solutions provide Qatar Airways personnel with real-time access to maintenance, flight and aircraft performance information to optimize efficiency and lower fleet operating costs.

Source: The Boeing Company (NYSE: BA)
Date: Jul 10, 2019