LONDON – Following its mention at the Farnborough Air Show in July, Boeing & Cargolux has finalized its deal for 10 777-8 Freighter aircraft.
The signing took place at Cargolux’s base in Luxembourg, with representatives from the airline and Boeing present for this landmark deal.
The Deal…
On top of the deal for 10 firm 777-8 Freighters, Cargolux also has options to take on an additional six units of the type.
Cargolux will be replacing its older Boeing 747-400 Freighters with the 777-8 Freighters as a result of this deal.
Commenting on the deal was Richard Forson, Cargolux’s President & CEO:
“The agreement we signed today will consolidate Cargolux’s position as a global leader of air freight services.”
“Replacing our aging fleet of 747-400 Freighters with the latest technology and fuel-efficient 777-8 Freighter model will contribute to our long-term sustainability program while continuing to offer our customers the tailored service they expect”.
Also commenting on the deal was Stan Deal, the CEO & President of Boeing Commercial Airplanes:
“With its purchase of our newest freighter, Cargolux has invested in a sustainable future as the 777-8 Freighter will significantly reduce CO2 emissions compared to the airplane it is replacing”.
“Equally important, the 777-8 Freighter operates with a noise footprint up to 60% smaller than its predecessors, significantly minimizing noise emissions around airport communities.”
Boeing also said the following in the statement regarding the order:
“Cargolux’s choice of the 777-8 Freighter underlines its commitment to establishing long-term sustainability.”
“Europe’s number one all-cargo airline has a long-standing engagement towards sound operations, and the 777-8 Freighter offers reduced emissions, noise, as well as the lowest fuel use and operating costs per tonne of any large freighter.”
The 777-8 Freighter…
The Boeing 777-8 Freighter was launched in January 2022, with Qatar Airways becoming the launch customer of the type, ordering 34 units of the type.
This was part of an eye-watering $30bn investment into Boeing, giving confidence to both the MAX and also for the beginning of Boeing’s future freighter portfolio.
Such a freighter will eventually replace the standard 777 Freighter as well as become a suitable competitor for the Airbus A350 Freighter, which has already accrued orders since launch.
With Cargolux already operating the 747-8 Freighter as well, this is going to provide a sufficient mix of heavy-duty aircraft for the Luxembourg-based carrier.
Freighter Market Intensifying…
It remains clear that even as we come out of the COVID-19 pandemic, the cargo market is intensifying, meaning that airlines such as Cargolux will continue to need newer aircraft.
Looking ahead, it’s going to be interesting to see what the delivery timetables will be like, as well as what destinations the carrier will place these new aircraft on.
As the e-commerce market continues to increase in size and value, cargo carriers are wanting to get as much of the pie as they can. So if that means expanding capacity, then they need the aircraft to back this up.
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