FARNBOROUGH — Boeing kickstarts Day 2 at the Farnborough Airshow 2018 with an order for five 747-8 Freighters and 29 777 Freighters from Volga-Dnepr, valued at list prices of $11.8 billion.
The amount is split $2 billion for the 747-8’s and $9.8 billion for the 777 Freighters.
Alexey Isaykin, President of Volga-Dnepr Group and Chairman of CargoLogicHolding, commented:
“This is a very significant day in our company’s history.”
“With this package of agreements, we will grow our business with the unique and unmatched 747-8 Freighter and open new market opportunities with the 777 Freighter, the world’s longest-range twin-engine cargo jet.”
“And we will work with Boeing to develop new freighter solutions that will help us continue to serve the unique and fast-changing requirements of our global customers,” Isaykin continued.
“We are true believers in the 747-8 Freighter, it is a very special airplane.”
“We fly it every day and we understand why operators around the world want more of them,” he concluded.
“We are extremely honored that Volga-Dnepr Group and CargoLogicHolding have once again placed their trust on Boeing’s freighter family to carry their business into the future,” said Kevin McAllister, president and chief executive officer, Boeing Commercial Airplanes.
“We look forward to expanding our relationship with our great partners and delivering new freighters to them for many years to come,” McAllister added.
This is good news for the Boeing 747-8 Freighter program in particular, as the order provides a much-needed boost to the struggling program.
With a production rate of 0.5 aircraft per month, even small orders assist in keeping the 747 dream alive for a longer period of time.
As for the 777 Freighter program, this is a big commitment to the program.
Yesterday, we saw 19 orders for 777 Freighter aircraft due to the high demand in the cargo industry. A rise in e-commerce is largely credited for this boost.
In total, nearly 50 Freighters have been ordered this week in the airshow, which is big news for the cargo industry.
It also means that the cargo market is starting to become even more competitive and is a space to carefully watch.
Boeing has managed to achieve quite a good mix of commercial and cargo orders so far this week, and especially in larger quantities.
The same can not be said about Airbus. With only the underperforming A330-200 Freighter to offer, Airbus has failed to secure a cargo order at this year’s Farnborough Airshow.
Recently, a flood of used A330-200 Freighters hit the market and as such an order is not likely.
With Boeing having at least 98% of the market share for the freight market against the likes of Airbus, this shows that it is something that Airbus may not be able to take advantage of, especially due to the significance of Boeing freighters around the globe and also the high loads they can take.
Airways is LIVE at the Farnborough Airshow 2018. Follow our rolling coverage on Twitter at @AIRWAYSLIVE and @AIRWAYSMAGAZINE.