Boeing, Silk Way West Airlines Announce Order for 777-8 Freighters

Rhea-AI Summary

Boeing (NYSE:BA) has announced a finalized order with Silk Way West Airlines for two 777-8 Freighters, along with options for two additional aircraft. This agreement was made public on November 10, 2022, during a signing ceremony in Seattle. Silk Way West Airlines, marking its 10th anniversary, becomes the first customer in the Eurasia region to order this model. Boeing's 777-8 Freighter is noted for its fuel efficiency, boasting a 30% improvement over previous models. The global freighter fleet is expected to increase by 60% by 2041 due to rising air cargo demand.

Positive

• Silk Way West Airlines orders two 777-8 Freighters with options for two more, indicating strong demand for new aircraft.
• The 777-8 Freighter offers 30% better fuel efficiency and emissions than its predecessors, supporting sustainability efforts.
• Silk Way West Airlines celebrates its 10th anniversary as a Boeing fleet operator, showcasing a long-term partnership.

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• None.

SEATTLE, Nov. 10, 2022 /PRNewswire/ -- Boeing (NYSE:BA) and Silk Way West Airlines have finalized an order of two 777-8 Freighters, with options for two additional airplanes. The two companies announced the agreement at a signing ceremony today at Boeing Commercial Airplanes' Seattle Delivery Center.

The Azerbaijani cargo carrier, which serves 40 destinations around the world, is the first customer in the Eurasia region to order the industry's newest, most capable and most fuel-efficient twin-engine freighter.  

The order was previously listed as unidentified on Boeing's Orders & Deliveries website.

"We are pleased to announce this order with our longstanding partner Boeing and become one of the world's first customers for the newest freighter," said Zaur Akhundov, Silk Way Group president. "This year Silk Way West Airlines celebrates its 10^th anniversary, and over the past decade the carrier has been operating an all-Boeing fleet. Today's agreement reflects our ongoing investment in Boeing's market-leading freighters. Our fleet renewal plans will help to further reduce our operating costs and enhance fuel efficiency as well as make air freight services in our region more sustainable."

Boeing launched the new 777-8 Freighter in January 2022 and has booked more than 50 orders for the model. The 777-8 Freighter has nearly identical payload and range capabilities as the 747-400 Freighter while providing 30% better fuel efficiency and emissions and 25% better operating costs per tonne. It is the ideal choice as operators replace aging freighters later this decade.

"With sustained demand for air cargo tied to expanding e-commerce and air freight's speed and reliability, Boeing expects the global freighter fleet to increase by 60% through 2041," said Stan Deal, president and CEO of Boeing Commercial Airplanes. "We are proud that Boeing products, including this order for the 777-8 Freighter, continue to drive Silk Way West Airlines' expansion plans and help realize the ambition of making Baku a global cargo hub."

Boeing provides more than 90% of the worldwide dedicated freighter capacity, including new production and converted aircraft.

About Silk Way West Airlines
Founded in 2012 in Baku, at the heart of the Silk Road, Silk Way West Airlines operates around 800 monthly flights across the globe via its fleet of 12 dedicated Boeing 747-8F and 747-400F aircraft based at Heydar Aliyev International Airport. On April 28, 2021, Silk Way West Airlines signed a strategic fleet expansion agreement with Boeing for the purchase of five state-of-the-art 777 Freighters. The airline's annual cargo turnover exceeds 500,000 tons, while its growing route network covers over 40 destinations across Europe, the CIS, the Middle East, Central and Eastern Asia, and the Americas. South Korea's Incheon Airport honored Silk Way West Airlines with the prestigious 'Cargo Airline of the Year 2020' award.

About Boeing
As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future and living the company's core values of safety, quality and integrity. Learn more at www.boeing.com.

Contact
Boeing Media Relations
Media@Boeing.com

Elena Alexandrova
Boeing Communications
+7 985 774 63 28
elena.alexandrova@boeing.com

Nigar Miriyeva
Silk Way West Marketing and PR
+994 50 222 02 28
nigar.miriyeva@swh.az

 

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SOURCE Boeing

FAQ

What recent order did Boeing (BA) announce with Silk Way West Airlines?

Boeing announced an order for two 777-8 Freighters with options for two additional aircraft.

When was the Boeing and Silk Way West Airlines agreement finalized?

The agreement was finalized on November 10, 2022.

What is significant about the 777-8 Freighter model ordered by Silk Way West Airlines?

The 777-8 Freighter is the newest, most capable, and fuel-efficient freighter in the industry.

How does the 777-8 Freighter compare to the 747-400 Freighter?

The 777-8 Freighter has nearly identical payload and range but offers 30% better fuel efficiency.

What does Boeing expect regarding the global freighter fleet by 2041?

Boeing expects the global freighter fleet to increase by 60% through 2041 due to demand.