Emirates signs for 10 Boeing 747-8 freighters worth US$3.3 billion
New 747-8Fs to boost existing freighter fleet and support growth plans
Emirates, one of the world’s fastest growing
international airlines, recently signed a Heads of Agreement for 10 of
Boeing’s new 747-8F aircraft, to be powered by General Electric’s GEnx jet
engines, in a deal worth US$ 3.3 billion.
new Boeing 747-8Fs worth US$ 3.3 billion will be the latest acquisitions to
Emirates ever-expanding fleet of aircraft.
The Heads of Agreement was signed July 29 at the Farnborough Airshow in the
United Kingdom by HH Sheikh Ahmed bin Saeed Al-Maktoum, Chairman and Chief
Executive, Emirates Airline and Group, and Alan Mulally, Boeing Commercial
Airplanes President and Chief Executive Officer.
The engine component of this deal is valued at more than US$600 million, and
Sheikh Ahmed and GE Aviation’s President and CEO Scott Donnelly, also signed
a Letter of Intent for 45 GEnx jet engines to power the new aircraft
The 10 747-8F aircraft, scheduled for delivery from 2010, will support
Emirates’ long-term growth plans by providing additional capacity and
operational flexibility for its air cargo services. Emirates currently
operates nine wide-bodied Boeing 747Fs and Airbus A310Fs, and also has eight
777Fs on its order books.
Sheikh Ahmed said: “Worldwide air cargo traffic is projected to grow by over
six percent annually for the next two decades, tripling over current traffic
“The 747-8 freighters that we are ordering will put Emirates in a strong
position to tap into the growth of cargo traffic and reinforce Dubai’s
standing as a growing international hub for air cargo and logistics. This
acquisition is an important building block in our long-term growth plans,
and will help Emirates SkyCargo reinforce its position in the top league of
leading cargo carriers.”
The range and economics of the new 747-8Fs will provide Emirates SkyCargo
with the flexibility to deploy the aircraft on a variety of routes within a
range of up to 4,475 nautical miles. From Dubai’s geo-centric location, this
means the airline could potentially operate non-stop air cargo services,
flying with a full load, to the entire African continent, Europe, Middle
East and most of Asia.
Dubai-based Emirates is one of the world’s most successful and profitable
international airlines. It currently operates a fleet of 94 wide-bodied
aircraft to over 80 destinations around the globe. Over the past decade,
Emirates has been recording double-digit growth annually, and it currently
receives an average of one new aircraft per month.
With the implementation of this Heads of Agreement for 747-8Fs, Emirates
will have more than 100 wide-bodied jets pending delivery, worth
approximately US$30 billion.
capability gets a boost
TICON Logistics Park Co. Ltd. (TLP), a subsidiary of TICON
Industrial has completed phase 1 of the Laem Chabang Logistics Center, which is
now ready for occupation.
Manop Charoenkajonkul, General Manager of TLP said: “There is a strong demand
for rental space in specialist logistics parks, not only from the logistic
companies but also from manufacturing companies. We have identified the areas of
strong demand, and it is on the Eastern Seaboard and near the new airport.
“The Laem Chabang Logistics Center is the first of out logistics centers to
become operational. It is strategically located at the junction of Route 7 and
the Laem Chabang Road, 9km from Laem Chabang Port.”
Phase1 of the Laem Chabang Center comprises 4 logistics warehouse units, each of
5,310sqm, including 504sqm of ground floor and mezzanine office accommodation,
which are now available for lease, individually or in multiple units. The
specification includes10m clear height, 3 tons per sqm floor loading capacity,
roof insulation and sprinklers. Each unit will have 6 loading bays with dock
Phase 2, to be completed in 2007, will comprise two further units of 5,310sqm.
“This is the first logistics space to be completed by TLP, we are also
developing the 405 rai TICON Logistics Park at Bangna-Trad, Km 39, where the
first buildings will be available from the end of this year.” Added Manop. “The
250,000sqm logistics park will serve as a warehousing and distribution center
with short-distance access to Thailand’s new Suvarnabhumi Airport and its main
deep sea port at Laem Chabang. And we plan to add more developments in line with