Boeing Signs $12 Bln Deal to Sell Giant Cargo Planes to Russian Freight Firms

Business

A Russian company, which specializes in transporting enormous items such as military and oilfield equipment, has signed a deal to buy $12 billion worth of cargo planes from Boeing. The planes will replace Volga-Dnepr Group’s aging fleet of Antonov aircraft.

The deal, announced at the 2018 Farnborough International Airshow in Britain, includes an order for five Boeing 747-8 Freighters — worth US$2 billion and a letter of intent to acquire 29 Boeing 777 Freighters, worth US$9.8 billion.

Volga-Dnepr Group and its UK-based subsidiary CargoLogic Holding also signed a package of agreements with Boeing for crew management and future development.

“This is a very significant day in our company’s history. With this package of agreements, we will grow our business with the unique and unmatched 747-8 Freighter and open new market opportunities with the 777 Freighter, the world’s longest range twin-engine cargo jet,” said Alexey Isaykin, President of Volga-Dnepr Group and Chairman of CargoLogicHolding.

“We will work with Boeing to develop new freighter solutions that will help us continue to serve the unique and fast-changing requirements of our global customers.”

Volga-Dnepr Group is known for its fleet of huge Antonov An-124 Ruslan planes, but the Ukraine-based company, who date back to the Soviet Union, have closed down production and forced Russian companies to look elsewhere.

The entire nose cone…

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