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TheStreet Open House

Boeing 747-8 Serves 100th Airport

Stocks in this article: BA

EVERETT, Wash., March 18, 2013 /PRNewswire/ -- The Boeing [NYSE: BA] 747-8 has served its 100th airport just 16 months after entering service. The airplane, a 747-8 Freighter operated by launch customer Cargolux, arrived in Hanoi, Vietnam, from Kuwait on Sunday.

"As the 747-8 launch customer, I want to congratulate the Boeing and Cargolux teams for their commitment and hard work that made this achievement possible," said Richard Forson, Cargolux interim president and chief executive officer. "We are proud to be the first airline to operate the 747-8F to the 100th airport worldwide that is able to accommodate this great aircraft on a commercial revenue flight. After all, it's a milestone for Boeing and Cargolux alike and a testament to the true pioneering spirit that has always characterized our two companies."

Cargolux took delivery of the first 747-8 Freighter in October 2011 and placed it directly into service to its home base in Luxembourg. Since then, the 747-8 fleet has supported revenue service operations at 100 airports on six continents and has been approved for more than 240 airports around the world, significantly more than the airplane's main competitor.

The fleet has also been performing well in service, with a dispatch reliability of approximately 98.4 percent.

"The arrival of the airplane in Hanoi is just another testament to the capabilities and value the 747-8 is providing our customers," said Eric Lindblad, vice president and general manager, 747 Program, Boeing Commercial Airplanes.

The milestone demonstrates the newest member of the 747 family can operate safely within an airport environment, accounting for regulatory requirements, clearances, pavement loading and parking requirements.

The 747-8 family provides airlines with double-digit improvements in fuel burn, operating costs and emissions, while being 30 percent quieter and adding more capacity. To date 42 747-8s, including 29 freighters, eight Boeing Business Jets (BBJ) and five Intercontinentals have been delivered to a total of seven airline customers and several undisclosed BBJ customers.

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