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Boeing, Cargolux Airlines Finalize Order For Additional 747-8 Freighter

Stocks in this article: BA

EVERETT, Wash., Feb. 14, 2014 /PRNewswire/ -- Boeing (NYSE:BA) and Cargolux Airlines today announced an order for an additional 747-8 Freighter. The order, valued at $357.5 million at list prices, is the 14 th 747-8 Freighter the Luxembourg-based cargo carrier has ordered from Boeing.

"The Cargolux Board of Directors approved the order of our 14 th 747-8 Freighter almost 35 years to the day that the airline took delivery of its first 747 Freighter ever," said Richard Forson, interim president and CEO of Cargolux. "This shows how pleased we, as an all-747 cargo operator, are with the performance and economics of this new generation aircraft and underlines the importance of the role of the 747 overall in the success of our company."

Cargolux was the world's first operator of the 747-8 Freighter, taking its first delivery of the airplane type in October 2011. Since then, the airline has taken a total of nine 747-8 Freighters, providing the carrier with increased cargo capacity coupled with excellent economic performance. With today's announcement, Cargolux has a total of five unfilled orders for 747-8 Freighters.

"Since we delivered the first ever 747-8 Freighter to Cargolux, the airplane has proved its value by enabling the airline to carry more revenue cargo with lower operating costs," said Todd Nelp, vice president of Sales for Europe, Boeing Commercial Airplanes. "Boeing and Cargolux have enjoyed nearly 40 years of shared history and we remain committed to providing this all-Boeing operator with the best products to support its continued growth."

The 747-8 Freighter gives cargo operators the lowest operating costs and best economics of any large freighter airplane while providing enhanced environmental performance. It is optimized to provide greater revenue cargo-carrying capability than the 747-400, offering 16 percent more cargo volume while keeping its iconic nose door.

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