Western Global Airlines Purchases Two Boeing 777 Freighters

Rhea-AI Summary

Boeing (NYSE: BA) has secured a firm order from Western Global Airlines for two 777 Freighters, finalized in January 2022. This order marks the first new-production freighters for Western Global. The 777 Freighter is noted for its efficiency, with a range of 4,970 nautical miles and a maximum payload of 107 metric tons. Boeing forecasts a 70% growth in the global freighter fleet over the next 20 years, driven by rising e-commerce and supply chain demands. The addition will bolster Western Global's capacity and operational flexibility.

Positive

• Boeing secures a firm order for two 777 Freighters, enhancing its backlog.
• The 777 Freighter is recognized for its efficiency and operational cost-effectiveness.
• Boeing forecasts a 70% growth in the global freighter fleet in 20 years, signaling a strong market outlook.

Negative

• None.

SEATTLE, Feb. 16, 2022 /PRNewswire/ -- Boeing [NYSE: BA] and Western Global Airlines today announced a firm order for two 777 Freighters, the first new-production freighters for the all-Boeing cargo operator based in Estero, Fla. The order was finalized in January 2022 and is currently listed as unidentified in Boeing's order backlog. The agreement also includes an additional purchase option.

"Western Global is pleased to acquire new-build 777 Freighter aircraft.  As the world's fastest growing cargo airline, we have determined that augmenting our existing fleet with new 777 Freighters will enable us to best serve our customers while providing a clear path to our future fleet plans," said Jim Neff, Western Global Airlines CEO & founder.

Boeing's market-leading 777 Freighter is the world's largest, longest-range and most capable twin-engine freighter currently flying, with the lowest trip cost and highest reliability of any large freighter. With a range of 4,970 nautical miles (9,200 kilometers), the 777 Freighter can carry a maximum structural payload of 107 metric tons (235,900 pounds), while reducing fuel use and CO2 emissions compared to prior airplanes. This capability and exceptional efficiency translate into significant savings for cargo operators, with fewer stops and associated landing fees.

Boeing has forecast that the global freighter fleet will grow by 70% in the next 20 years, with freight carriers such as Western Global supporting a rapidly expanding global e-commerce business and evolving supply chains.

"The addition of 777 Freighters will enable Western Global to continue its growth, providing increased capability and flexibility to its operations," said Ihssane Mounir, Boeing senior vice president of Commercial Sales and Marketing. "These new freighters will complement its existing all-Boeing fleet and we are committed to deepening the partnership between our companies, which has existed since Western Global's inception."

Having flown to over 400 airports in 135 countries on six continents, Western Global Airlines currently owns and operates a fleet of 21 747-400 and MD-11 Freighters, providing contracted turn-key transport services around the globe for a variety of blue-chip logistics companies, e-commerce platforms, and US Department of Defense.

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   
Joe Loeffler
Boeing Communications
425-306-2145
Joseph.o.loeffler@boeing.com

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

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SOURCE Boeing

FAQ

What did Boeing announce on February 16, 2022, involving the stock symbol BA?

On February 16, 2022, Boeing announced a firm order from Western Global Airlines for two 777 Freighters.

How will the new Boeing 777 Freighters affect Western Global Airlines?

The new Boeing 777 Freighters will enhance Western Global's operational capacity and flexibility in serving customers.

What is the range and payload capacity of the Boeing 777 Freighter?

The Boeing 777 Freighter has a range of 4,970 nautical miles and a maximum payload capacity of 107 metric tons.

What is the market outlook for the global freighter fleet according to Boeing?

Boeing forecasts a 70% growth in the global freighter fleet over the next 20 years.