Boeing and Qatar Airways have signed a letter of intent to purchase five 777 Freighters, valued at $1.7 billion at list prices.

When a purchase is finalized, it will be posted to Boeing's Orders and Deliveries website, a statement said.

Akbar Al Baker, Qatar Airways Group CEO and Kevin McAllister, president & CEO, Boeing Commercial Airplanes sign a memorandum of understanding for five Boeing 777 Freighters in the presence of the Qatari Minister of Finance and Qatar Airways chairman Ali Sharif Al Emadi (left) and Sheikh Meshal Bin Hamad Al-Thani, Qatari Ambassador to the USA.

The letter of intent was signed during a ceremony attended by Qatari Minister of Finance and Qatar Airways Chairman His Excellency Mr. Ali Sharif Al Emadi, Qatar Airways Group Chief Executive His Excellency Mr. Akbar Al Baker, Boeing Commercial Airplanes President & CEO Kevin McAllister.

"The addition of five 777 Freighters is a significant moment for our cargo division," said Al Baker. "As the world's third-largest cargo operator, Qatar Airways continues to invest in fleet expansion. This transaction will be a reinforcement of our confidence in Boeing to continue to deliver an outstanding product that meets our exacting standards. We expect no less than perfection, and we are confident that Boeing will continue to deliver that."

Qatar Airways currently operates a fleet of nearly 100 Boeing widebody airplanes and has about 100 more Boeing airplanes on order.

"We are proud of our long-standing partnership with Qatar Airways and we value their business and the positive impact on Boeing, our employees, suppliers and communities," said McAllister. "We are honoured that one of the world's leading international cargo carriers recognizes the unmatched capabilities of the 777 Freighter to continue to lift their growing freight operations."

The 777 Freighter is capable of flying 4,900 nautical miles (9,070 kilometres) with a payload of 112 tons (102 metric tonnes or 102,000 kg). The airplane's long range translates into significant savings as fewer stops mean lower landing fees, less congestion, lower cargo handling costs and shorter delivery times.

Boeing is the air cargo market leader, providing over 90 per cent of the dedicated freighter capacity around the world. – TradeArabia News Service