PARIS, LE BOURGET: Boeing is to sell the Volga-Dnepr group 20 747-8 freighters for its AirBridgeCargo Airlines (ABC) subsidiary in an agreement that will see the Russian company providing the U.S. manufacturer with additional heavylift and outsize cargo capacity to support its worldwide logistics operation.

The Memorandum of Understanding, signed at the Paris Air Show, values the aircraft order - a combination of purchases and leases - at US$7.4 billion over the next seven years.

Terms of the reciprocal provision of AN 124-100 capacity by Volga-Dnepr (right, loading Dreamliner wings) to Boeing were not disclosed.

"Together with Boeing, we will keep the unique technology of air logistics offering both the Antonov-124-100 and our expanded Boeing 747 fleet for the benefits of global customers," commented Volga-Dnepr Group president Alexey Isaikin.

In addition to 10 An-124-100 and five IL-76TD-90VD aircraft, the group also operates 14 747 freighters of various types via ABC. The airline reported a 23.5 percent increase in freight tonne-kilometers for the first five months of 2015 compared to the same period last year and a 16 percent traffic rise to over 180,000 tonnes flown.

The company recently launching two weekly flights from Hanoi to Europe and the United States via Hong Kong and says it provides over 600 weekly connections via its Moscow hub.