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Emirates just placed a big order with Boeing — and not for passenger jets. The Dubai-based aviation group’s SkyCargo division announced Tuesday that it had put itself down for five new 777 Freighters. That’s $1 billion worth of planes on top of another five that Emirates is already expecting.
“Demand for our world-class product and services is growing exponentially, further amplified by Dubai’s Economic Agenda which aims to double foreign trade and reinforce the city’s position as a global trading hub,” Emirates CEO Ahmed bin Saeed Al Maktoum said in a statement accompanying the news. “This investment in additional Boeing 777 capacity enables us to cater to customer demand and marks a step forward on our long-term strategic growth plan.”
Though Emirates is known for its long-haul passenger operations, it also has a substantial logistical transport business as well. According to the company’s most recent annual report, cargo revenues made up 11% of its $37.4 billion business. (And that’s a step down from the year before, thanks to a swell of global cargo capacity accompanying the wordlwide economic recovery from the COVID-19 pandemic.)
Emirates is expecting to take delivery of the planes by the end of 2026. At that point, its freight fleet will be 17 planes deep.