Option For One More, $708 Million At List Prices
Boeing announced Tuesday that US-based aviation investment firm
Guggenheim Aviation Partners, LLC (GAP), acting on behalf of one of
its investment funds, has ordered three Boeing 777 Freighters. GAP
also has an option to purchase one additional airplane.
At list prices, the order is valued at approximately $708
million. Delivery of the 777 Freighters will begin in 2009. The
order was previously accounted for on Boeing's Orders and
Deliveries web site and attributed to an unidentified customer.
"Guggenheim Aviation Partners is pleased to add the highly
capable and efficient Boeing 777 Freighter to our growing fleet,"
said Stephen Rimmer, Executive Officer of GAP. "The 777 Freighter
is an ideal complement to our current and future 747 Freighter
fleet and has unique capabilities that supplement and extend our
leasing strategy."
"Guggenheim Aviation Partners joins a rapidly growing list of
customers who are finding value in the efficiency and market
receptiveness of the Boeing 777 Freighter, one of the fastest
selling cargo airplanes in Boeing history," said John Feren, vice
president of Sales, Boeing Commercial Airplanes. "We are pleased
that Guggenheim will begin offering the world's largest and most
capable twin-engine freighter as another excellent cargo solution
for their customers."
Investment funds managed by GAP currently own a fleet of 31
Boeing aircraft. In addition to those airplanes, the funds placed
orders for six 747-400ER (Extended Range) Freighters in June 2005
and four 747-8 Freighters in September 2006.
Based on the 777-200LR Worldliner passenger airplane, the Boeing
777 Freighter, with a revenue payload capability of 229,000 pounds
(103 metric tonnes) and a range of 4,885 nautical miles (9,047 km),
provides the lowest trip cost of any large freighter.
Boeing says the 777 Freighter will have unmatched capacity for a
twin-engine freighter and is designed to facilitate easy
interlining with the Boeing 747 Freighter, the world's most popular
cargo airplane. Both models are capable of 10-foot-high loads and
load densities up to about 10 pounds per cubic foot (160 kg per
cubic meter).
Boeing provides over 90 percent of the total worldwide dedicated
freighter capacity. The company estimates that global air cargo
will grow by an average 6.1 percent over the next 20 years.
Over the life of the 777 program, 47 customers worldwide have
placed 887 orders for all versions of the 777. Since its launch in
2005, the 777 Freighter program has won orders for 49 aircraft from
seven customers.