New Delhi: Emirates, a long-haul airline, will expand its cargo flight capacity by purchasing five Boeing 777 freighters in a deal worth more than USD 1.7 billion, the two firms said on Tuesday.
Emirates earlier disclosed an investment of USD 1 billion on its cargo flights, which included the purchase of two new Boeing 777s and the conversion of 10 Boeing 700-300ER passenger aircraft into freighter aircraft. The upgrades are expected to start in 2023, while the two new aircraft will enter Emirates’ fleet in 2022.
Eleven Boeing 777 freighters are already flown by Emirates. The airline claimed that with this purchase, it now had 200 wide-body aircraft on order.
According to Sheikh Ahmed bin Saeed Al Maktoum, chairman and CEO of Emirates, this purchase shows Emirates’ confidence in the expansion of the aviation industry as a whole and in the need for air freight.
“It lays the ground for our continued growth, which is driven by the reach of our diverse global network.”
Emirates is a state-owned airline with 118 double-decker Airbus A380s and 134 Boeing 777s in its current fleet. Emirates is situated at Dubai International Airport, the busiest airport in the world for international travel.
Although the transaction is worth over USD 1.7 billion, manufacturers and airlines frequently bargain for reductions on large orders.