Taiwan’s China Airlines will order four Boeing 777-8 freighters, a next-generation plane that isn’t expected to reach the market until 2028, it said in a stock exchange filing.
The airline said it would also buy 10 each of the Boeing 777-9 passenger jet and 10 Airbus A350-1000s. The total value of the transactions is $11.9 billion, although airlines typically get discounts for large orders. Each of the 777-8 freighters will cost up to $519 million.
The passenger jets will replace an existing fleet of 10 777-300ERs and provide capability for future growth.
China Airlines has more than 80 aircraft in its fleet, including nine Boeing 777-200 freighters and eight 747-400, but has said it will gradually phase out the older quad-engine jumbo jets.
Boeing created the 777-8 program three years ago as a replacement for the legacy 777 freighter, which is scheduled to end production in late 2027 to comply with U.S. and international rules for reducing emissions and noise.
Qatar Airways was the first customer for the 777-8 freighter, with commitments for 35 aircraft. Boeing has more than 50 orders for the aircraft type so far.
The 777-8 has nearly identical payload and range capabilities as the 747-400 cargo jet while providing 30% better fuel efficiency and emissions and 25% better operating costs per ton, according to Boeing. It also produces about 60% less noise than its predecessors.
Boeing forecast in November that the air cargo market will have a compounded annual growth rate of 4% over the next 20 years, resulting in a doubling of air traffic.
Click here for more FreightWaves/American Shipper stories by Eric Kulisch.
RELATED READING:
E-commerce to drive air cargo industry expansion through 2043
‘No big bang’ for peak season air cargo business
The post China Airlines to buy Boeing 777-8 freighters appeared first on FreightWaves.
