China Airlines and Boeing Announce Order for Four 777 Freighters

Rhea-AI Summary

Boeing and China Airlines have announced an order for four 777 Freighters, valued at $1.4 billion. The addition of these freighters is part of China Airlines' strategy to enhance its air cargo capacity amid growing global demand. The 777 Freighter's operational efficiency and reliability are expected to contribute to the airline's profitability. In 2021, China Airlines' air cargo revenue soared by 186% compared to 2019, helping offset significant losses in passenger revenue.

Positive

• Order for four 777 Freighters valued at $1.4 billion boosts Boeing's sales.
• 777 Freighter's operational efficiency supports China Airlines' growth strategy.
• China Airlines' air cargo revenue rose 186% in 2021, indicating strong demand.

Negative

• None.

SEATTLE, Jan. 27, 2022 /PRNewswire/ -- Boeing [NYSE: BA] and China Airlines today announced the Taiwan flag carrier has ordered four 777 Freighters, adding to its extensive fleet of Boeing airplanes. Valued at $1.4 billion at list prices, the order will enable the airline to capture new market opportunities as global air cargo demand continues to grow.

"The 777 Freighter has played a critical role in our efforts to maintain profitability during the pandemic, and these additional airplanes will be an integral part of our long-term growth strategy," said China Airlines Chairman Hsieh Su-Chien. "We are excited to add more 777 Freighters due to their operational efficiency and reliability. Our fleet modernization program will enable us to deliver added value to our customers, especially as the global supply chain continues to evolve."

The 777 Freighter is the world's largest, most capable twin-engine Freighter. It has a range of 4,970 nautical miles (9,200 km) with a maximum revenue payload of 102 tonnes (224,900 lbs), while contributing to a 17% reduction in fuel use and CO₂ emissions per tonne compared to prior generation airplanes. In addition, the 777F will allow China Airlines to make fewer stops on long-haul routes, further reducing associated landing fees and resulting in the lowest trip cost of any large freighter.

"We are thrilled that China Airlines has again selected the 777 Freighter to serve as the backbone of its world-class air cargo fleet," said Ihssane Mounir, senior vice president of Commercial Sales and Marketing. "The market-leading capabilities of the 777 Freighter provide added capacity, improved efficiency and greater value to China Airlines' customers, enabling the carrier to meet air cargo demand and position itself for long-term growth."

In 2021, China Airlines' air cargo revenue was up 186% above the pre-pandemic year of 2019, which nearly balanced out a 96% drop in passenger revenue. Last year China Airlines Cargo recorded the best year in its history – over TWD 100 billion (USD $3.6 billion) in revenue – by leveraging its existing all-Boeing fleet of (18) 747-400 Freighters and (3) 777 Freighters. With (3) 777 Freighters already on order, China Airlines' 777 Freighter is the perfect complement to the airline's existing 747-400 Freighter fleet, seamlessly accommodating the 3-meter (10-foot) tall pallets and maximizing flexibility for its air cargo operations.

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
Kevin Yoo
Boeing Commercial Airplanes
kevin.k.yoo@boeing.com 
+1 (206) 249-6372

Jim Proulx
Boeing Media Relations
jim.proulx@boeing.com 
+1 (206) 850-2102

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SOURCE Boeing

FAQ

What did Boeing announce with China Airlines on January 27, 2022?

Boeing announced an order for four 777 Freighters from China Airlines, valued at $1.4 billion.

How much did China Airlines' air cargo revenue increase in 2021?

China Airlines' air cargo revenue increased by 186% in 2021 compared to 2019.

Why is the 777 Freighter significant for China Airlines?

The 777 Freighter enhances operational efficiency and is crucial for China Airlines' long-term growth strategy.

What is the value of the order for the new Boeing 777 Freighters?

The order for the four 777 Freighters is valued at $1.4 billion.

How does the 777 Freighter improve China Airlines' operations?

The 777 Freighter allows for fewer stops on long-haul routes, reducing landing fees and trip costs.