Published: Tue, July 17, 2018
Worldwide | By Jermaine Blake

DHL Express to order 14 Boeing 777 Freighters in $4.7bn deal

DHL Express to order 14 Boeing 777 Freighters in $4.7bn deal

Qatar Airways has finalized an order to buy five 777 freighters from US planemaker Boeing (BA.N), the two companies said on Monday.

Speaking at the Farnborough Airshow in England on Monday, Boeing CEO Dennis Muilenburg said such trade restrictions could cause real problems for his industry.

Featuring the widest single aisle cabin in the sky, the efficient A320neo Family incorporates the very latest technologies including new generation engines and Sharklets, which together deliver more than 15 percent fuel and Carbon dioxide savings from day one and 20 percent by 2020 as well as 50 percent noise reduction. It was previously announced as a commitment to purchase in April.

Boeing's latest order will double the size of DHL's global 777 fleet, the companies said.

"While DHL Express in the past has chiefly been leasing aircraft to operate its global network ... the purchase of fully owned freighter aircraft will improve the cost position of the DHL Express division going forward", DHL said.

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Airbus also confirmed that China's Sichuan Airlines has ordered 10 A350-900s for its long haul worldwide routes. The order is worth USD$3.17 billion at list prices.

Global air freight demand grew by almost ten percent a year ago with demand growth outpacing capacity growth by a factor of three. Airbus has said reducing the backlog of more than 7,100 planes is among the biggest challenges as production fails to keep pace.

Gareth Rogers, chief executive of Farnborough International said: "The Farnborough International Airshow connects an industry worth $350 billion".

"We have chose to suspend the evaluation of the 100-seater regional aircraft acquisition project, since the market size of the selected regional routes is growing faster than we expected", he said. Boeing 737 jets from the current fleet will instead be used while the airline studies passenger trends.

Rival airframers Boeing and Airbus have both secured deals on day 1 of the Farnborough International Airshow. "It is also US manufacturing jobs and it is creating economic growth in the USA", he said.

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