Long-haul carrier Emirates is buying five Boeing 777 freighters in a deal worth more than $1.7 billion, further expanding its freighter capacity, the two companies announced recently.
Emirates previously announced a US$1 billion investment in its cargo operations, including the purchase of two new Boeing 777s and the conversion of 10 Boeing 700-300ER passenger planes to freighters. The two new aircraft will join the Emirates fleet in 2022, while refits are due to begin in 2023.
Emirates already operates 11 Boeing 777 freighters. The airline said the order brought its total orders to 200 of the wide-body aircraft.
“This order reflects Emirates’ confidence in the demand for air cargo and the overall growth of the aviation sector,” said Sheikh Ahmed bin Saeed Al Maktoum, Chairman and CEO of Emirates. “It sets the stage for our continued growth, which is fueled by the reach of our diverse global network.”
Emirates, a state-owned airline based at Dubai International Airport, the world’s busiest international airport, has a current fleet of 118 double-decker Airbus A380s and 134 Boeing 777s.
While the deal is valued at more than $1.7 billion, airlines and manufacturers typically negotiate discounts for bulk purchases.