Qatar Airways' new $20bn freighter deal to help it capitalise on buoyant air cargo market

(MENAFN- Gulf Times)

* On Monday, Qatar Airways ordered up to 50 777-8 Freighters, expanding its commitment to the Boeing 777X family; first delivery of new freighter expected in 2027 Qatar Airways' new $20bn freighter deal will help the national carrier capitalise on the buoyant air cargo market and consolidate its position as one of the world's largest cargo carriers.
On Monday, Qatar Airways ordered up to 50 777-8 Freighters, expanding its commitment to the Boeing 777X family.
Qatar Airways will be the 777-8 Freighter launch customer with a firm order for 34 jets and options for 16 more.
First delivery of the new freighter is anticipated in 2027, Qatar Airways said.
Boeing 777-8 Freighter will be world's largest twin-engine cargo jet with the most payload capacity and a 25% improvement in fuel efficiency, emissions and operating costs.
Featuring advanced technology from the new 777X family and the proven performance of the market-leading 777 Freighter, the 777-8 Freighter will be the largest, longest-range and most capable twin-engine freighter in the industry.
With payload capacity nearly identical to the 747-400 Freighter and a 25% improvement in fuel efficiency, emissions and operating costs, the 777-8 Freighter will enable a more sustainable and profitable business for operators.
About half of global cargo by value travels by air, and in turn half of that usually goes in the belly of passenger planes.
During the pandemic, many airlines have been forced to park unused passenger jets, driving up demand for cargo space at a time when e-commerce has been a lifeline for many.
Qatar Airways Cargo is the world's leading air cargo carrier, playing a pivotal role throughout the pandemic to support the continuity of global trade and the movement of essential supplies.
From April 1, 2020 to March 31, 2021, the carrier helped transport over 500,000 tonnes of medical equipment, PPE and aid, Qatar Airways annual report showed.
As global air freight capacity dropped significantly at the start of the pandemic, Qatar Airways Cargo continued operating its full fleet of freighters, along with belly-hold flights and passenger freighters to maintain global supply chains.
With the pandemic causing a substantial decline in international passenger demand, the airline's freight business has been a significant contributor to Qatar Airways Group's revenue streams, maintaining the commercial viability of many of the airline's global passenger routes.
Qatar Airways Group Chief Executive HE Akbar al-Baker said,“Boeing has a long history of building market-leading freighter aircraft and Qatar Airways is honoured to have the opportunity to be the launch customer for the 777-8 Freighter, an aircraft which will not only allow us to further enhance our product offering for our customers, but also help us meet our objectives to deliver a sustainable future for our business.
“Today marks a great day in the ever-building and strong relationship between Qatar Airways and Boeing. We certainly push Boeing hard to deliver upon our expectations, and the team at Boeing consistently strives to meet and exceed our expectations, giving the opportunity for us to be here today to launch the most significant new freighter aircraft for a generation.”

MENAFN03022022000067011011ID1103639981