FedEx order 15 more Boeing 777s

EXPRESS cargo carrier FedEx has ordered 15 new 777 freighter aircraft from Boeing despite the plummet in global cargo demand.

This brings FedEx’s total order for the new jet up to 88. First delivery of the aircraft is due to be in the next few months to Air France with FedEx taking its first batch of four this June.

The deal is worth US$3.75 billion at list prices but FedEx is expected to only pay only $2.8 billion over 10 years.

“This order signifies that over the long term, [FedEx is] optimistic that the market is going to recover,” said Bob Dahl, managing director of Seattle-based consultancy Air Cargo Management Group.