FedEx Express orders 24 medium and large Boeing freighters

Boeing and FedEx Express officials have announced a new order for a dozen each 767 freighters and 777 freighters.

The new airplanes, valued at $6.6 billion at list prices, will appear on Boeing's Orders and Deliveries webpage once contingencies have been met.

This order comes as the air cargo industry continues to gather strength. A year after demand grew by nearly 10%, global air freight is on track to increase by another 4% to 5% in 2018.

Air cargo carriers are adding capacity to keep up with demand, either by converting passenger airplanes into freighters or ordering new production cargo jets. With the latest order from FedEx Express, Boeing has sold more than 50 widebody freighters so far in 2018.

"We are taking another positive step in our fleet modernization program as we add more efficient, lower emission aircraft to our global fleet," said David L. Cunningham, president and CEO of FedEx Express. "The Boeing 767 and 777 freighters have brought greater efficiency and reliability to our air operations. The 777, with its tremendous range characteristics, has allowed us to provide faster transit times around the globe."

FedEx Express is the largest operator of the 767 and 777 freighters.

The 767 freighter, based on the 767-300ER (extended range) passenger jet, can carry approximately 58 tons (52.7 tonnes) of revenue cargo with intercontinental range.

The 777 freighter can fly 4,900nm (9,070km) with a payload of 112 tons (102 tonnes). With the 777 freighter, FedEx has been able to connect Asia with its hub in Memphis, Tennessee non-stop and reduce transit times by up to three hours.