The world’s largest air cargo carrier, FedEx Express has signed a contract with Boeing for 24 medium and large freighter aircraft.
The deal, which is valued at $6.6bn, consists of 12 767Fs and 12 777Fs which will be used to modernise its fleet. The Memphis-based company says the 767Fs will be delivered between June 2019 and May 2022, while the larger 777Fs will start arriving from June 2020, through to May 2025.
David L Cunningham, president and CEO of FedEx Express, remarked: “We are taking another positive step in our modernisation programme as we add more efficient, lower emission aircraft. The Boeing 767 and 777 freighters have brought greater efficiency and reliability to our air operations.”
Boeing said the order comes as the air cargo industry continues to gather strength, a year after demand grew by nearly 10%, and the manufacturer is forecasting that global air freight is on track to increase by a further 4-5% this year. It added that carriers are increasing capacity to keep up with demand, either by converting passenger aeroplanes or by ordering new production cargo jets. With this latest order from FedEx Express, Boeing says it has sold more than 50 widebody freighters so far this year.
The 767F, based on the 767-300ER passenger aircraft, can carry almost 52.7 tonnes of revenue cargo over intercontinental ranges. Meanwhile, the 777F is the world’s longest-range twin-engined freighter capable of operating over distances of 4,900 nautical miles (9,070km) with a payload up to 102 tonnes. The type has enabled FedEx Express to offer a non-stop Asia connection with its hub in Memphis, Tennessee.