Korean Air Finalizes Order for 5 Boeing 777 Freighters

Korean Air has finalized an order for five Boeing 777 Freighters.

The order is valued at more than US$1.5 billion at current list prices.

As one of the world's largest cargo airlines, Korean Air currently operates an all-Boeing freighter fleet of 26 airplanes that includes 17 747-400 Freighters, five 747-8 Freighters and four 777 Freighters.

"We truly value our enduring partnership with Korean Air and we are pleased that they have selected the 777 Freighter to bolster their all-Boeing Freighter fleet," said Ihssane Mounir, senior vice president of NE Asia Sales, Boeing Commercial Airplanes.

Korea's flag carrier currently operates 86 Boeing passenger airplanes and has unfilled orders for nearly 40 additional airplanes, including 12 777-300ERs, 10 747-8 Intercontinentals, 10 787-9 Dreamliners, two 747-8 Freighters and six 777 Freighters.

The 777 Freighter is capable of flying 4,900 nautical miles (9,070 kilometers) with a full payload at general cargo market densities.

According to the Boeing World Air Cargo Forecast, global air freight traffic is forecast to grow at an annual rate of 4.7%, doubling the cargo traffic over the next 20 years.