Industry Volga-Dnepr orders B747-8Fs and commits to buy 777Fs

Together with the CargoLogicHolding, Volga-Dnepr signed a package of agreements at the Farnborough International Airshow 2018. The agreements are set to optimize the company´s aircraft fleet and global operations in general.

Volga-Dnepr signed a definite purchase agreement for five Boeing 747-8 Freighters. The aircraft will be used for fully-owned subsidiary airline CargoLogicAir. Moreover, a Memorandum of Understanding (MoU) was signed for 29 Boeing 777 Freighters. Additionally, both parties signed agreements for the purchase of crew pairing solutions and to work together on freighter projects in the future.

While the order for the B747-8 Freighters is valued at approximately $2 billion, the B777 Freighter order would cost $9.8 billion according to current list prices. If Volga-Dnepr group transforms the MoU into a firm order, the B777F would be a new type of aircraft in their fleet.

Alexey Isaykin, President of Volga-Dnepr Group and Chairman of CargoLogicHolding commented: "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 [...] And 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."

Kevin McAllister, president and chief executive officer, Boeing Commercial Airplanes added: "We are extremely honored that Volga-Dnepr Group and CargoLogicHolding have once again placed their trust on Boeing's freighter family to carry their business into the future. We look forward to expanding our relationship with our great partners and delivering new freighters to them for many years to come."

The agreements to work together on freight solutions include the exploration of new aircraft such as new production B767 Freighters or converted jets such as B737-800s.

Both Boeing and Volga-Dnepr seek to take advantage from each other’s know-how in the industry. Volga-Dnepr is one of the major cargo companies in the air freight branch, while Boeing is among others experienced in general aircraft solutions.

Air Bridge Cargo is a cargo company, headquartered in Moscow, Russia. The operator flies with a fleet of seven Boeing B747-400Fs and 11 B747-8Fs. Furthermore, subsidiary Atran operates three B737-400Fs. CargoLogicAir is a British subsidiary of the Volga-Dnepr group and operates with one Boeing 747-400F and two Boeing 747-8Fs.