FARNBOROUGH — Boeing has kick-started the Farnborough Air Show 2018 with a new commitment for their cargo presence. DHL Express has placed an order and commitment for 14 Boeing 777 Freighters, with options for an additional 7.

It is understood that the valuation of this order is around $4.7 billion at current list prices. This order was previously stated as unidentified on Boeing’s website.

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“We are delighted to announce the acquisition of 14 new 777 Freighters as we renew part of our long-haul fleet with this best-in-class fuel efficient freighter type that will make a significant step towards DHL’s zero emissions target by 2050,” said Charlie Dobbie, Executive President of Global Network Operations & Aviation.

“The 777 Freighter is an airplane perfectly suited to DHL’s needs, offering an outstanding payload capability, with incredible range to service its extensive intercontinental network and unmatched reliability,” said Boeing Commercial Airplanes President & CEO Kevin McAllister.

In 2009, DHL became the first express operator to introduce the 777F into their long-haul operations.

This new order is aimed to double the size of DHL’s 777 fleet, allowing the carrier to start operating into new markets.

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The order fills a major hole in Boeing’s 777 production backlog as the manufacturer transitions production from the classic 777 to the 777X.

DHL follows the likes of FedEx who recently announced a top-up order for 12 777Fs.

This order is also good news for the global air freight market, which has grown by nearly 10 percent last year with demand growth increasing by a factor of three.

Boeing predicts that e-commerce sales will grow to $4.48 trillion by 2021, signaling an increased cargo presence in the sector.

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It is a good start for Boeing and it signals that many of the unidentified customers on their website are now starting to come alive and widen out their airline portfolio for the different aircraft that they currently have on offer.

It is also good news for their freighter program as it guarantees more production on that front, especially with the slow production rates on the 747-8F currently already.

Airways is LIVE at the Farnborough Airshow 2018. Follow our rolling coverage on Twitter at @AIRWAYSLIVE and @AIRWAYSMAGAZINE.