Emirates’ cargo arm Emirates SkyCargo has placed a USD 1 bn order for five Boeing 777 freighters, slated for immediate delivery between 2025 and 2026, according to a statement. The airline plans to retire older freighters as it receives the new deliveries.

Boosting capacity: Once operational, the new orders will boost the airline’s main deck cargo capacity by 30%. “Demand for our world-class product and services is growing exponentially,” said Emirates Chairman and CEO Ahmed bin Saeed Al Maktoum. The investment puts the airline's total order book at 315 wide-body aircraft.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

More expansions in the cards: The carrier also plans to add 10 additional 777-300ERs to its fleet, which are currently being converted into freighters, the statement said. The airfreight division plans to further increase its capacity with 15 freighters by 2025 through new deliveries and its freighter conversion program. It also aims to boost its fleet to more than 300 aircraft by mid-2030, while planning to add 20 new destinations to its freighter network. The airline ordered in November 90 of Boeing's biggest aircraft, the 777X, and an additional five 787s at a value of USD 52 bn.

A tumultuous relationship: Emirates President Tim Clark said last month that the airline was “extremely exasperated” with delivery delays from Boeing. The planemaker will likely need some five years to get out of its current slump and won’t succeed in regaining market share across all aircraft variants, Clark said. The delay has prompted Emirates to expand the retrofitting of its Boeing 777 fleet, resulting in a cost increase from USD 2 bn to USD 3.5 bn.

REMEMBER- Between losses, production delays, and a lawsuit, Boeing has faced an onslaught of bad press sparked by an Alaska Airlines incident in January.

Tags: