PARIS – Dubai’s Emirates, one of the world’s largest cargo carriers, is expanding its fleet of Boeing 777F freighters as it plans for a sharp increase in cargo trade, industry sources said.
The order for more of the current-generation freighters emerged amid tensions between Emirates and Boeing (NYSE: BA) over separate delays, but pre-dated Boeing’s announcement on Friday that its future 777X jetliner series would slip by another year to 2026.
In September, Boeing reported orders from unidentified buyers for 11 777F freighters, without giving details. The sources said part of the total included a fresh order for the 777F from Emirates. The airline and Boeing declined to comment.
Emirates is the largest operator of the 777 family and the largest customer for its delayed successor, the 777X.
Earlier this week, Emirates Airline President Tim Clark criticized Boeing (NYSE: BA) over a cumulative six-year delay to the 777X, as the planemaker wrestles with industrial and financial crisis.
Emirates has around a dozen current-generation 777F cargo jets in its fleet plus four on order, already listed under its name, according to Cirium Ascend and Boeing data. It is also leasing four 747s and their crews to meet demand, Cirium says.
Airlines frequently withhold their names on new orders until ready to announce them.
Abu Dhabi-based newspaper The National on Wednesday quoted a senior airline executive as saying that Emirates planned to announce a further investment in freighters in the coming weeks.
The executive also said that Emirates was in talks for freighter versions of the newer Airbus A350 and future 777X model as it triples its cargo fleet by 2030.
None of the parties agreed to comment.
Analysts note that delays in passenger planes and ongoing demand for dedicated freighter planes aren’t disconnected.
Cirium Ascend head of global consultancy Rob Morris said demand for freighters was being supported by a shortage of passenger planes from Boeing (NYSE: BA) and Airbus since a large proportion of air freight travels in bellies of passenger jets.
Average global cargo yields or unit revenues grew 12% in August, the highest annual increase in over two years, the International Air Transport Association said last week.
(Source: ReutersReuters)
