FedEx to Buy 24 Boeing Air Freighters
Air Transport

FedEx to Buy 24 Boeing Air Freighters

Order comes to $6.6 billion

TLME News Service

Boeing and FedEx Express have announced a new order for twelve 767 Freighters and twelve 777 Freighters as they strive to maintain pace in an increasingly competitive air cargo sector.

"We are taking another positive step in our fleet modernization program as we add more efficient, lower emission aircraft to our global fleet," said David L. Cunningham, President and CEO of FedEx Express.

"The Boeing 767 and 777 Freighters have brought greater efficiency and reliability to our air operations. The 777, with its tremendous range characteristics, has allowed us to provide faster transit times around the globe. We are excited to add more of these aircraft to our fleet."

The new airplanes, valued at US$6.6 billion at list prices, will appear on Boeing's Orders and Deliveries webpage once contingencies have been met.

This order comes as the air cargo industry continues to gather strength. A year after demand grew by nearly 10%, global air freight is on track to increase by another four to five% in 2018.

World Air Cargo Volumes Grow by 4.8% in Q1, 2018

Air cargo carriers are adding capacity to keep up with demand, either by converting passenger airplanes into freighters or ordering new production cargo jets.

With the latest order from FedEx Express, Boeing has sold more than 50 widebody freighters so far in 2018.

FedEx Express and Boeing have a long-standing partnership, with the express carrier a major operator of the Boeing 757 Freighter and the largest operator of the 767 Freighter and 777 Freighter.

FedEx is also a customer of Boeing's Global Services business.

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