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Qatar Airways signs letter of intent with Boeing to buy 5 cargo planes worth $ 1.7 billion

QATAR (OBSERVATORY) – Qatar Airways signed a letter of intent with Boeing on Tuesday to buy five 777 cargo planes worth $ 1.7 billion, Qatar Airways said in a statement.

The letter of intent was signed at a ceremony attended by Qatari Finance Minister Ali Shareef Al Emadi, who is also Qatar Airways’ chairman, Ali Al Baker, chief executive officer and Kevin McAlister, head of Boeing’s commercial aircraft unit.

The statement added that the order will be placed on the website of the purchase orders and deliveries to Boeing, if agreement on the final details of the purchase.

Qatar Airways did not give the date it expects to complete the agreement.

“This transaction will be a boost to our confidence in Boeing to continue delivering an excellent product that meets our standards that require high care,” said Al Baker.

According to its website, Qatar Airways, one of the largest airlines in the Middle East, operates a fleet of 23 cargo planes and 191 passenger aircraft.

The order comes 10 months after a crisis between Qatar and five Arab states Qatar Airways said made it stop making profits after it had to cancel lines and operate longer flight routes.

The company said the long-term and cargo capacity of the 777 cargo planes would help them reduce costs by reducing the number of stops and shortening delivery times.

The 777 cargo aircraft can fly 9070 kilometers with a net load of 102 metric tons, the statement said.