Qatar Airways Finalizes Order for Four Boeing 777 Freighters

Qatar Airways has finalized an order with Boeing for four 777 Freighters, valued at US$1.24 billion at current list prices.

The airline also has purchase rights for four additional airplanes, which when exercised will bring the combined value to US$2.46 billion.

Qatar Airways first announced an intent to order the four 777 Freighters at the 2014 Farnborough Airshow.

"We aim to make Qatar Airways one of the world's major air cargo players," said His Excellency Akbar Al Baker, CEO, Qatar Airways. "With its proven track record, long-range capabilities and excellent operational efficiencies, the 777 Freighter will be a key player in enabling Qatar Airways to grow its footprint and economically deliver cargo further, connecting many long-haul destinations from our hub in Doha, especially with the expansion of Doha's new freight terminal."

The 777 Freighter is capable of flying 4,900 nautical miles (9,070 kilometers) with a full payload and general cargo market densities.

Global air freight traffic is forecast to grow at an annual rate of 4.7 percent, doubling the cargo traffic over the next 20 years, according to the Boeing World Air Cargo Forecast released in October.