Boeing [NYSE: BA] and the Lufthansa Group completed an order for four more 777 airplanes, valued at $1.4 billion at list prices. The purchase is part of the aviation company's plans to modernize its fleet with newer widebody airplanes.
"The order for the new long-haul aircraft highlights the strategy of Lufthansa Group to predominantly allocate the growth within its multi-hub system where cost and quality offer the best conditions for profitable investments," said the Lufthansa Group in a company statement.
The order provides two more Boeing 777-300ER (Extended Range) airplanes for Swiss International Air Lines (SWISS), the national carrier of Switzerland and a member of the Lufthansa Group.
Key data points: The market size in 2031 = $6.9 billion, growth forecast = 3.8% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities, and forecasts in the global flight inspection market to 2031 by solution (service and system), end use (commercial airports, defense airports, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Download free sample pagesSWISS currently operates 10 777-300ERs, one of the most efficient, capable and reliable twin-aisle passenger airplanes in aviation. The airline says the 777-300ER has served as the backbone of their long-haul fleet and the additional airplanes will allow them to further expand their network.
The order also provides two more 777 Freighters for Lufthansa Cargo, one of the world's leading air freight carriers that serves nearly 300 destinations.
"We are honored that Lufthansa Group, an aviation leader in Europe and around the world, is expanding their fleet of 777 airplanes," said Ihssane Mounir, senior vice president of Commercial Sales & Marketing for The Boeing Company. "The order is another testament to the tremendous value of the 777 and its unique combination of long range, outstanding efficiency, and leading reliability."
The 777-300ER can seat up to 386 passengers in a three-class configuration and has a maximum range of 7,930 nautical miles (14,685 km). The 777 Freighter, the industry's largest and longest range twin-engine cargo jet, can fly 4,900 nautical miles (9,070 kilometers) with a payload of 102 metric tonnes (102,000 kg).
