Emirates buys 5 Boeing 777 freighters for $1.7 billion to expand cargo fleet

New Delhi: Emirates, a long-haul airline, will expand its cargo flight capacity by buying five Boeing 777 freighters in a deal worth more than USD 1.7 billion, both companies said on Tuesday.

Emirates previously disclosed a USD 1 billion investment on its cargo flights, which included the purchase of two new Boeing 777s and the conversion of 10 Boeing 700-300ER passenger planes into cargo planes. Upgrades are expected to begin in 2023, while the two new aircraft will enter Emirates’ fleet in 2022.

Eleven Boeing 777 freighters have already been flown by Emirates. The airline claimed that with this purchase, it now had 200 wide-body aircraft on order.

According to Sheikh Ahmed bin Saeed Al Maktoum, President and CEO of Emirates, this purchase reflects the emirate’s confidence in the expansion of the aviation industry as a whole and the need for air freight.

“It lays the groundwork for our continued growth, driven by the reach of our diverse global network.”

Emirates is a state-owned airline with a current fleet of 118 double-decker Airbus A380s and 134 Boeing 777s. Emirates is located at Dubai International Airport, which is the busiest airport in the world for international travel.

Although the transaction is worth more than USD 1.7 billion, manufacturers and airlines often bargain for cuts on large orders.