Benzinga | Jan 31, 2022 03:10PM EST

Boeing Bags ~$20B Worth Order From Qatar Airways For The New 777-8 Freighter Aircraft

* Qatar Airways will be Boeing Co's (NYSE:BA) launch customer for 777-8 Freighter, with a firm order for 34 jets and options for 16 more, worth more than $20 billion at current list prices.

* The order would be the largest freighter commitment in Boeing history by value. The first delivery of the new freighter is anticipated in 2027.

* Qatar Airways will convert 20 of its 60 777X family orders to the 777-8 Freighter as part of today's agreement. Qatar Airways is also ordering two current 777 Freighters to capitalize on the buoyant air cargo market.

* Also Read: Boeing Clocks 3% Revenue Decline In Q4

* The 777-8 Freighter will be the industry's largest, longest-range, and most capable twin-engine freighter. With a range of 4,410 nautical miles (8,167 km), the 777-8 Freighter has a maximum structural payload of 118 tonnes.

* Boeing will build the 777-8 Freighter in its Everett, Washington factory. The company has invested more than $1 billion into the Everett site to support 777X production.

* Boeing and Qatar Airways also signed a Memorandum of Understanding for a firm order of 25 737-10 aircraft and purchase rights for 25 additional airplanes. The total value of this 737-10 commitment is ~$7 billion at current list prices.

* Price Action: BA shares traded higher by 4.52% at $199.24 on the last check Monday.