LoadAir signs order Agreement for Two Boeing 747-400ER Freighters

LoadAir Cargo, a recently-launched air freight operation based in Kuwait, has signed an order with Boeing for the delivery of two 747-400 Extended Range Freighters. The airplane deal is valued at $494 million at list prices with both deliveries scheduled for early 2009.

"This major investment demonstrates our commitment to build a world-class cargo airline business based in Kuwait" said LoadAir's Chairman, Sheikh Khalifa Ali Al-Sabah. "The 747-400ERF has demonstrated the ability to perform unmatched cargo operations across the globe, and we look forward to employing our new freighters to offer a competitive solution to customers worldwide."

Launched in a highly successful IPO in 2005, LoadAir has been granted an exclusive license to carry cargo to and from Kuwait. The freight operator plans to develop local, regional and inter-continental cargo operations that will be managed from its base in Kuwait City, Kuwait.

The 747-400ERF has a maximum takeoff weight of 910,000 pounds (412,775 kg), a maximum payload of 248,600 pounds (112,760 kg) and a maximum range of 4,970 nautical miles (9200 km). The airplane's distinctive nose door allows increased revenue by accommodating high-value outsize shipments, and with the side door, provides superior efficiency and flexibility in ground operations.

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