Emirates has just placed a significant order with Boeing, but not for passenger jets. The Dubai-based aviation group’s SkyCargo division announced on Tuesday that it ordered five new 777 Freighters, valued at $1 billion. This order is in addition to another five freighters that Emirates is already expecting.
“Demand for our world-class product and services is growing exponentially, further amplified by Dubai’s Economic Agenda which aims to double foreign trade and reinforce the city’s position as a global trading hub,” Emirates CEO Ahmed bin Saeed Al Maktoum said in an accompanying statement. “This investment in additional Boeing 777 capacity enables us to cater to customer demand and marks a step forward on our long-term strategic growth plan.”
Although Emirates is renowned for its long-haul passenger operations, it also has a substantial logistical transport business. According to the company’s most recent annual report, cargo revenues accounted for 11% of its $37.4 billion business. This is a decrease from the previous year, attributed to an increase in global cargo capacity as the world recovers economically from the COVID-19 pandemic.
Emirates expects to take delivery of the planes by the end of 2026. At that point, its freight fleet will comprise 17 planes.