Qatar Airways have announced this week an order of two Boeing 747-8 freighters and four 777-300ERs with an astonishing value of $2.16 billion.
The airline, which holds nearly 100 Boeing airplanes, will increase their aircraft, with another 100 Boeing aircraft pieces placed on order to continue the company’s expansion of twelve Boeing 777 freighters and 8 Airbus A330 freighters.
Boeing Commercial Airplanes CEO Kevin McAllister said: “As one of the world’s largest international cargo carriers, it is heartening that Qatar Airways has selected the 747-8 Freighter to meet its growing cargo operations and to see the important role the 777-300ER continues to play in its long-haul fleet.”
The operation of 787 in the Middle East by Qatar Airlines, has a further twenty 737 MAX airplanes on order. Last year in 2016, Qatar Airways placed an order of $11.7 billion from Boeing for 30 B787-9 Dreamliners and ten 777-3000ERs.
Boeing has delivered 3,482 commercial airplanes to its customers in the last five years. Despite this, its total commercial airplane backlog at the end of second-quarter 2017 was $424 billion, up from $417 billion at the end of first quarter. The commercial airplane backlog at the end of August 2017 was 5,665 airplanes.
It has been stated by Boeing, that 747-8 freighter gives cargo operators the lowest operating cost and has the best economic strategy of any large freighter airplane, whilst also enhancing environmental performance. It has been in hope; the freighter can provide greater revenue cargo-carrying capability compared to 747-400, with 16% more volume whilst keeping its unique nose door.
Boeing claims the 747-8 freighter gives cargo operators the lowest operating costs and best economics of any large freighter airplane, while providing enhanced environmental performance. It is optimised to provide greater revenue cargo-carrying capability than the 747-400, offering 16% more cargo volume while keeping its unique nose door, Boeing said.
Apart from a dominant presence in commercial market, Boeing is a major operator in the defense industry.
Recently, the Senate approved a $700 billion National Defense Authorization Act, which provides necessary funding to the U.S. Military to carry out activities in homeland and overseas. The bill authorizes $640 billion for national defense spending and $60 billion for Overseas Contingency Operations.
The defense expenditure for fiscal 2018 is expected to exceed fiscal 2017 levels by nearly $83 billion. The defense spending approved by the Senate is higher than what President Trump had requested for.
In addition to Boeing, the higher defense spending will benefit companies like Lockheed Martin Corporation LMT and Northrop Grumman Corporation NOC.
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