Boeing Lands Order For 100 Jets From Qatar Airways
Boeing said Monday that Qatar Airways ordered up to 50 large cargo planes and committed to buying up to 50 Boeing 737 Max jets, a huge win for the US aircraft maker over European rival Airbus, David Koenig, and Aamer Madhani reported for the Associated Press (AP).
Photo Insert: Boeing said Qatar Airways will be the first airline to operate the 777-8, a cargo-carrying version of the twin-aisle 777, the order for 34 planes with options for 16 more being the largest order ever for Boeing cargo planes.
The companies did not disclose financial terms. The list price of the planes would total about $27 billion, but airlines routinely get deep discounts. Boeing swooped in to land the orders shortly after Airbus canceled a Qatar Airways order because of an unusually public and bitter fight over Qatar’s complaints about paint jobs on a different model Airbus jet.
The order for cargo planes was announced during a signing ceremony at the White House that was attended by executives from the airline and Boeing and officials from both governments.
President Joe Biden praised the order during an Oval Office meeting with the emir of Qatar. Biden called it “one of the largest deals that Boeing aircraft has ever had, and it will support tens of thousands of good-paying US jobs here in America,” Biden said. Shares of Chicago-based Boeing Co. gained 5% to close at $200.24.
Boeing said Qatar Airways will be the first airline to operate the 777-8, a cargo-carrying version of the twin-aisle 777. The airline placed a firm order for 34 planes and took options for 16 more. It’s the largest order ever for Boeing cargo planes, the company said.
Demand for cargo planes has held up despite — or perhaps because — of the pandemic. The downturn in international travel since early 2020 means there are fewer passenger planes carrying cargo in their bellies. That puts a premium on cargo-only flights.
“Cargo is the only healthy part of the large aircraft market,” said Richard Aboulafia, an analyst with AeroDynamics Advisory in Washington.