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Dubai long-haul operator Emirates Airline is investing in new Boeing freighters to boost its air cargo fleet.
The airline confirmed on Tuesday a firm order for five new Boeing 777-200 LR freighter aircraft in a deal worth $1.7 billion at list prices.
The deal takes the carrier’s total order book to 200 wide-body aircraft.
Two of the units are scheduled for delivery in 2024, while the remaining three aircraft will be delivered in 2025.
“Emirates is investing in new freighters so that we can continue to serve customer demand with the latest fuel-efficient aircraft,” said Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group.
The order, Al Maktoum added, reflects Emirates’ confidence in airfreight demand and overall aviation sector growth.
“It lays the ground for our continued growth,” he added.
Middle East airlines saw air cargo demand fall in September 2022 amid a decline in export orders.
Regional demand, measured in cargo tonne-kilometres (CTKs), fell 15.8% in September compared to the same period last year, according to the International Air Transport Association (IATA).
Global demand also fell 10.6%, although it continued to track at near pre-pandemic levels.
Following contractions across major economies, IATA noted that the global purchasing managers index (PMI) for new export orders dropped for a third month in a row to its lowest level in two years.
(Reporting by Cleofe Maceda; editing by Seban Scaria)
