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EMIRATES SIGNS FOR 10
BOEING 747-8 FREIGHTERS WORTH US$ 3.3
BILLION
DUBAI, U.A.E,
Emirates, one of the world's fastest growing
international airlines, today signed a Heads of
Agreement for 10 of Boeing's new 747-8F aircraft,
to be powered by General Electric's GEnx jet
engines, in a deal worth US$ 3.3 billion (CDN$3.74
billion).
The agreement
was signed today at the Farnborough Airshow in the
United Kingdom by HH Sheikh Ahmed bin Saeed
Al-Maktoum, Chairman and Chief Executive, Emirates
Airline and Group, and Alan Mulally, Boeing
Commercial Airplanes President and Chief Executive
Officer.
The engine
component of this deal is valued at more than
US$600 million, and Sheikh Ahmed and GE Aviation's
President and CEO Scott Donnelly, also signed a
Letter of Intent today for 45 GEnx jet engines to
power the new aircraft ordered.
The ten 747-8F
aircraft, scheduled for delivery from 2010, will
support Emirates' long-term growth plans by
providing additional capacity and operational
flexibility for its air cargo services. Emirates
currently operates nine wide-bodied Boeing 747Fs
and Airbus A310Fs, and also has eight 777Fs on its
order books.
Sheikh Ahmed
said: "Worldwide air cargo traffic is projected to
grow by over six percent annually for the next two
decades, tripling over current traffic levels. The
747-8 freighters that we are ordering today will
put Emirates in a strong position to tap into the
growth of cargo traffic and reinforce Dubai's
standing as a growing international hub for air
cargo and logistics. This acquisition is an
important building block in our long-term growth
plans, and will help Emirates SkyCargo reinforce
its position in the top league of leading cargo
carriers."
The range and
economics of the new 747-8Fs will provide Emirates
SkyCargo with the flexibility to deploy the
aircraft on a variety of routes within a range of
up to 4,475 nautical miles. From Dubai's
geo-centric location, this means the airline could
potentially operate non-stop air cargo services,
flying with a full load, to the entire African
continent, Europe, Middle East and most of
Asia.
"We are very
pleased that Emirates has chosen the 747-8F to
bring the newest technology to its freighter
fleet," Mulally said. "The new 747-8F has
been designed to deliver the best economics of any
freighter aircraft. With the technology
improvements brought from the 787 programme,
including new-generation engines, the 747-8
Freighter will be lighter and more fuel efficient
while providing more revenue-earning cargo space.
This is great news for Emirates, and great news for
the 747-8 programme."
The new 747-8Fs
offer 16 percent more cargo volume and 15 percent
lower ton-mile costs than the classic 747-400F.
Currently under development, the new GEnx jet
engines powering these aircraft have been designed
for greater engine durability, weight reduction and
lower operating costs. The GEnx also provides
significantly better specific fuel consumption and
payload performance than its predecessor the CF6,
and it is already the best-selling engine for new
wide-body aircraft.
Dubai-based
Emirates is one of the world's most successful and
profitable international airlines. It currently
operates a fleet of 94 wide-bodied aircraft to over
80 destinations around the globe. Over the past
decade, Emirates has been recording double-digit
growth annually, and it currently receives an
average of one new aircraft per month. With the
implementation of this Heads of Agreement for
747-8Fs, Emirates will have more than 100
wide-bodied jets pending delivery, worth
approximately US$ 30 billion.
For Further
Information, contact:
John
McGrath
Marshall Fenn
Communications
Direct Line:
416-876-3945
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