Boeing, Qatar Airways Announce Order for 10 777-8Xs, Four 777 Freighters

LE BOURGET, France, June 15, 2015 /PRNewswire/ -- Boeing [NYSE: BA] and Qatar Airways announced an order for 10 777-8Xs and four 777 Freighters, valued at $4.8 billion at list prices, on the opening day of Paris Air Show 2015.

"Acquiring technologically-advanced airplanes such as the 777X is integral to our expansion strategy," said His Excellency Mr. Akbar Al Baker, CEO, Qatar Airways. "With the addition of these 777-8X to the 50 777-9X already on order, we are confident of continuing the tremendous legacy of the 777.

"The order for four 777 Freighters underpins the value that this airplane has also brought to our rapidly growing cargo operations," said Mr. Al Baker. "Qatar Airways Cargo is an integral part of the Qatar Airways Group and we look forward to enhancing the existing fleet with next-generation aircraft."

The 777X builds on the passenger-preferred and market-leading 777, as well as offering more market coverage and revenue capability than the competition. The 777X will include new engines, an all-new composite wing and will leverage technologies from the 787 Dreamliner. The 777X family includes the 777-8X and the 777-9X, both designed to respond to market needs and customer preferences.

"The order for an additional 10 777Xs is a further endorsement by Qatar Airways of the airplane which enjoyed the largest product launch in commercial jetliner history," said Boeing Commercial Airplanes President and CEO Ray Conner. "We are also very proud that Qatar Airways continues to expand its cargo operations with the 777 Freighter. We look forward to continuing to grow and strengthen our partnership with Qatar Airways well into the future."

The 777-9X will be 12 percent more fuel efficient than the competition, necessary in today's competitive environment. The 777-8X is 5 percent more efficient than its competitor at all ranges while providing for new network opportunities. Design of the 777X is underway and production is set to begin in 2017, with first delivery targeted for 2020. With this order, the 777X has accumulated 320 orders and commitments from six customers worldwide.

Boeing is the undisputed air cargo market leader, providing over 90 percent of the total worldwide dedicated freighter capacity. The 777 Freighter is capable of flying 4,900 nautical miles (9,070 km) with a full payload and general cargo market densities, making it the world's longest-range twin-engine freighter. The airplane's range capability translates into significant savings for cargo operators: fewer stops and associated landing fees, less congestion at transfer hubs, lower cargo handling costs and shorter cargo delivery times.