Qatar Airways finalizes $19B order for 50 Boeing 777X commercial jetliners, commits to 50 Boeing 777-9X and four Freighters

FARNBOROUGH, England, 16 July 2014. Boeing [NYSE:BA] and Qatar Airways finalized an order for 50 777-9X commercial airliners, valued at $18.9 billion U.S. at current list prices, today at Farnborough International Airshow 2014.

Qatar Airways officials committed to the 777X order at the Dubai Airshow in November 2013; the commitment was part of the largest product launch in commercial jetliner history, according to a Boeing spokesperson.

The airline also announced a commitment for 50 additional 777-9X purchase rights. If that order is finalized, Qatar's 777X order tally will reach 100 airplanes, to the tune of $37.7 billion at list prices. Qatar Airways officials also intend to order four 777 Freighters, with options for four more, at a combined value of $2.4 billion at list prices.

"Qatar Airways took delivery of its first 777 a few short years ago, and we are honored to see this partnership continue to grow and strengthen," explains Boeing Commercial Airplanes president and CEO Ray Conner. "Today signifies a new chapter in our relationship with Qatar Airways' endorsement of the 777X, as well as their ongoing confidence in the value of the 777 Freighter. These orders validate the market-leading role that the 777 and now the 777X will continue to play in the Middle East's passenger and cargo market."

"Qatar Airways continuously builds upon its successful fleet program, and this latest announcement demonstrates the quality equipment we acquire to deliver on our signature Five-Star service," says Akbar Al Baker, CEO of Qatar Airways. "The Boeing 777 is the backbone of our fleet and is highly amenable to the standards Qatar Airways upholds. We look forward to building on our legacy with the next-generation 777-9X."

The 777X will introduce the latest technologies including the advanced GE9X commercial engine by GE Aviation and an all-new high efficiency composite wing that has a longer span than today's 777. The 777X family includes the 777-8X and the 777-9X.

The 777-9X will be 12 percent more fuel efficient than any competing airplane, necessary in today's competitive environment, officials say. The 777-8X is 5 percent more efficient than its competitor at all ranges while providing for new network opportunities. Design of the 777X is underway and production is set to begin in 2017, with first delivery targeted for 2020. To date, the 777X has accumulated 300 orders and commitments from six customers worldwide.

The 777 Freighter can fly 4,900 nautical miles (9,070 km) with a full payload and general cargo market densities. The long-range, twin-engine freighter's range capability translates into savings for cargo operators: fewer stops and associated landing fees, less congestion at transfer hubs, lower cargo handling costs, and shorter cargo delivery times, officials explain.