Boeing to sell freighters to Russia’s Volga-Dnepr

Bloomberg

Boeing Co. sealed a deal to sell 777 freighters with a sticker price of almost $10 billion to Russia’s Volga-Dnepr Group, the world’s largest carrier of outsize cargo.
Volga-Dnepr signed a letter of intent to buy 29 of the 777s and confirmed a $2 billion order for five 747-8 freighters, Boeing said in a statement. The 777F is priced at $339.2 million before customary discounts, while the 747-8 has a list price of $403.6 million.
Moscow-based Volga-Dnepr, known for its fleet of huge Antonov Ruslan planes, specialises in transporting oversize items such as military and oilfield equipment. It ordered a batch of 20 747-8 cargo planes two years ago, helping to extend the life of the hump-nosed jumbo jet. The purchase of the smaller 777s may signal it plans to expand its traditional freight operations as well.
With the Volga-Dnepr announcement, Boeing continues to take advantage of a rebound in air cargo after a slump that hit in 2008. On Monday, the US company announced two deals totaling $6.4 billion for 777 freighters, to package-delivery service DHL. Boeing has a full lineup of freighters while rival Airbus SE only has one.
Volga-Dnepr is a longtime partner to Boeing, delivering aircraft segments to the US company’s assembly plants. Doing business has at times been difficult, given sanctions imposed over Russian aggression in the Ukraine, as well as the more recent indictments arising from alleged US election-meddling.
While the four-engine 747 is winding down as an option
for passenger airlines, the freighter version of the humbacked jumbo jet remains a popular choice with cargo specialists. It’s bigger than the younger 777 widebody, and has a nose that pivots up.