This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Qatar Airways Launches New Boeing Cargo Jet
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Business > Qatar Airways Launches New Boeing Cargo Jet
Business

Qatar Airways Launches New Boeing Cargo Jet

Editorial Board Published January 31, 2022
Share
Qatar Airways Launches New Boeing Cargo Jet
SHARE

Qatar Airways has agreed to buy up to 50 of Boeing Co. BA 5.07% ’s new 777X freighter jets, the White House said Monday, with the carrier launching the plane during a boom in air cargo.

The agreement is a boost for Boeing’s newest big plane, whose development has faced delays, declining customer orders for the passenger model and regulatory snags amid airlines’ broader shift toward smaller jets designed to fly on longer, direct routes.

The 777X freighter deal is worth more than $20 billion, based on list prices for the passenger model that runs at more than $400 million a plane before customary discounts. Its engines are made by General Electric Co.

The Qatar deal included 34 firm orders for the 777-8 freighters and rights to purchase 16 more of the cargo-carrying jets. It also included orders for two cargo versions of its current 777 jet.

The airline also agreed to buy up to 50 of Boeing’s 737 MAX 10 single-aisle jets, less than two weeks after Airbus SE opted to cancel a deal to sell the carrier a competing plane following a long-running dispute. Qatar Airways in 2020 canceled most of an existing MAX order after receiving five of the planes.

Boeing commercial chief Stan Deal, in a blue suit, handled a document with Qatar Airways CEO Akbar Al Baker at an event in Washington, D.C., marking the deal on Monday.

Photo: stefani reynolds/Agence France-Presse/Getty Images

In all, Boeing said Monday’s deal covering up to 102 jets was worth about $34 billion including the cost of the jets’ engines.

Last year, Boeing booked a $6.5 billion charge for the 777X while the passenger model faces regulatory hurdles in the U.S. and Europe. Boeing expects to deliver its first 777X in late 2023, about three years later than earlier estimates.

Boeing Chief Executive David Calhoun said Monday that the sale of 50 freighters represented two years of manufacturing for the 777 line, after recently announcing plans to boost production.

President Biden touted the deal in an Oval Office meeting with Qatari Emir Sheikh Tamim bin Hamad al-Thani, saying it was “one of the largest deals that Boeing aircraft has ever had, and it will support tens of thousands of good-paying U.S. jobs.”

The Chicago-based aerospace giant said last week that it has benefited from a boom in airfreight, with global cargo traffic last year increasing about 7% above 2019 levels. Boeing said it expected passenger traffic to return to pre-pandemic levels as soon as next year or by 2024.

Qatar Airways is the world’s third-largest air cargo carrier, according to the International Air Transport Association—following FedEx Corp. and United Parcel Service Inc.—and already a big Boeing customer. It has expanded its cargo unit during a boom in airfreight driven by rising e-commerce and a global supply-chain crunch that has hit ocean shipping particularly hard.

Qatar Airways operates one of the world’s largest air cargo fleets, with 26 of Boeing’s existing 777 freighters and two 747-8F jumbo jets. Some U.S. carriers have criticized the state-owned airline for allegedly relying on government subsidies, a claim it has denied.

Qatar Airways had already agreed to buy 60 of Boeing’s 777X passenger jets and Monday’s deal included converting 20 of these to the freighter version. The aircraft maker said in a regulatory filing Monday it had 253 firm orders for the passenger version of the 777X at the end of last year, up from 191 at the end of 2020 but fewer than the 309 it reported the prior year.

Qatar is also a big military customer for Boeing, agreeing in recent years to buy F-15 combat jets and Apache helicopters worth around $15 billion.

Boeing has relied more on military versions of passenger planes and cargo jets to generate sales. The company has said the boom in airfreight helped drive record orders and 41 deliveries for its freighters last year.

Airbus unveiled a new wide-body freighter last year to challenge Boeing’s dominance in that segment.

Boeing said Monday that the state of U.S.-Russia relations could impact its business and that it is monitoring sanctions and export restrictions. Russia provides most of the titanium Boeing uses in its jets and other products, and the company has a range of design and engineering services based in the country.

A new type of defect on Boeing’s Dreamliner aircraft surfaced recently, the latest in a series of issues that have led to a halt in deliveries. The company now has more than $25 billion of jets in its inventory. WSJ’s Andrew Tangel explains how Boeing got here. Photo: Reuters (Video from 10/14/21)

—Doug Cameron
contributed to this article.

Write to Andrew Tangel at Andrew.Tangel@wsj.com and Tarini Parti at Tarini.Parti@wsj.com

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the February 1, 2022, print edition as ‘Boeing Sells New 777X Cargo Jets to Qatar Airways.’

TAGGED:Business NewsPAIDWall Street Publication
Share This Article
Twitter Email Copy Link Print
Previous Article Investors Sour on Muni Funds Investors Sour on Muni Funds
Next Article China leans into zero-COVID strategy before Olympics with lockdowns, tight ‘bubble’ China leans into zero-COVID strategy before Olympics with lockdowns, tight ‘bubble’

Editor's Pick

I attempted Google’s new Search Dwell function and ended up debating an AI about books

I attempted Google’s new Search Dwell function and ended up debating an AI about books

Google’s new Search Dwell function lets customers maintain real-time voice conversations with an AI-powered model of Search The Gemini-powered AI…

By Editorial Board 6 Min Read
AI at Scale: Mohammed’s Revolutionary Architecture Behind the World’s Fastest Website Builder
AI at Scale: Mohammed’s Revolutionary Architecture Behind the World’s Fastest Website Builder

In an extraordinary technological breakthrough, Abdul Muqtadir Mohammed has fundamentally transformed how…

7 Min Read
Bobby Flay Pays Tribute to Anne Burrell: She was Unforgettable…
Bobby Flay Pays Tribute to Anne Burrell: She was Unforgettable…

Studying Time: 3 minutes Bobby Flay is the newest movie star to…

5 Min Read

Oponion

China’s Xi Jinping to Visit Saudi Arabia Amid Global Reshuffling

China’s Xi Jinping to Visit Saudi Arabia Amid Global Reshuffling

WorldRiyadh’s expanded ties with Washington’s global rivals have helped deepen…

November 7, 2022

IRS Leaders Still Wait for Answers on Leaked Bezos, Musk Tax Data

WASHINGTON—Top U.S. officials who oversee the…

May 20, 2022

San Jose Police investigating metropolis’s fifth murder

San Jose Police are investigating the…

March 30, 2025

Steelers buying and selling George Pickens to the Cowboys in alternate for 2026 third-round choose, picks swap in 2027

After months of hypothesis, the Pittsburgh…

May 7, 2025

AOC’s loss in bid for Home committee chair signifies generational alternative for Democrats

You will have reached your most…

December 25, 2024

You Might Also Like

Exploring Royal Mail’s Use of Ambient IoT Know-how with Wiliot
Business

Exploring Royal Mail’s Use of Ambient IoT Know-how with Wiliot

Eric Casavant: The partnership is a three-phase effort, undertaken by Royal Mail and Wiliot to digitize automobiles, amenities, and supply…

6 Min Read
Airgain Launches Business’s First Commercially Obtainable Cat 1 bis Embedded Modem Licensed for Buyer Finish-Functions
Business

Airgain Launches Business’s First Commercially Obtainable Cat 1 bis Embedded Modem Licensed for Buyer Finish-Functions

New addition to the NimbeLink Skywire™ household simplifies world IoT deployments with sooner integration, decrease prices, and seamless {hardware} migration.…

4 Min Read
From Blind Spots to Insights: Smarter Asset Monitoring
Business

From Blind Spots to Insights: Smarter Asset Monitoring

By Ohad Peled, Product Advertising Supervisor at Sony Semiconductor Israel. Over the previous couple of years, asset monitoring has emerged…

9 Min Read
Contained in the Physique: How Ingestible Sensors Are Shaping the Way forward for Healthcare
Business

Contained in the Physique: How Ingestible Sensors Are Shaping the Way forward for Healthcare

Lately, the speedy evolution of expertise has dramatically remodeled healthcare. From wearable devices to AI-powered diagnostics, innovation has been on…

12 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?