Emirates expands cargo fleet with order for five more Boeing 777 freighters

Investing.com -- Emirates has placed an order for five additional Boeing (NYSE:BA ) 777 freighters, a move aimed at expanding its cargo capacity in response to strong customer demand, the company said in a statement.

The new aircraft are set to be delivered between 2025 and 2026, with the airline now awaiting a total of 14 Boeing 777F deliveries from Boeing over the next two years.

“We’re investing in new freighter aircraft to meet surging demand and provide our customers around the world with even more flexibility, connectivity, and options to leverage market opportunity,” said HH Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive at Emirates Airline and Group.

This latest purchase is part of Emirates' broader strategy to grow its cargo operations, which are centered on Emirates SkyCargo. 

By December 2026, the airline expects to operate 21 Boeing 777 freighters, a major expansion from its current fleet of 11 units. 

The fleet growth will also be supported by a newly extended lease agreement with Dubai Aerospace Enterprise for four more Boeing 777 freighters from the existing fleet.

In addition to buying new aircraft, Emirates is pushing forward with plans to convert 10 Boeing 777-300ER passenger planes into freighters, further increasing its cargo capacity, the company said. 

The airline will continue to leverage its wide-body passenger fleet, which includes the 777s, A350s, and A380s, to complement its freighter operations, offering flexibility and efficiency in moving goods globally.

Dubai's plans to expand Al Maktoum International Airport will be a key enabler of this growth. The airport is set to become the world’s largest cargo hub, with the capacity to handle up to 12 million tonnes of cargo annually. 

Emirates also plans to expand its freighter fleet beyond 2026, with the Boeing 777-8F and Airbus A350-1000F under consideration. By the end of this year, Emirates will decide which aircraft will form its fleet from 2028 onward.

Shares of Boeing were up 2.9% in pre-open trade on Monday.

Source: Investing.com