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FARNBOROUGH, UK: July 17, 2018. Volga-Dnepr Group and CargoLogicHolding have signed an agreement with Boeing for 29 B777 freighters and placed an order for five B747-8 freighters at a total list price of US$11.8 billion.

Volga-Dnepr subsidiary AirBridgeCargo Airlines will operate the additional B747-8s while CargoLogicAir intends to add the B777s to its existing fleet.

Alexey Isaykin, president of Volga-Dnepr Group and chairman of CargoLogicHolding, a private UK company for CargoLogicAir, said the airlines would work with Boeing to develop and operate new freighter aircraft.

V D Group Farnborough"CargoLogicAir started its business by flying 747 scheduled and charter flights to and from the UK. We are excited to extend the network using a range of Boeing family aircraft including Boeing 747-8F, 777F, 767F and 737-800BCF," he explained.

Boeing says it is has 100 orders and commitments for production and converted freighters this year as a result of a “big spike in interest” in air cargo.

One of them is GE Capital Aviation Services (GECAS) that has ordered 20 Boeing converted B737-800s with options for 15 more. GECAS is the launch customer for the aircraft and leased the first type in April to Gothenburg-based West Atlantic Group.

"This order and future commitment with Boeing reflects the confidence GECAS has in the 737-800BCF to replace and grow the narrow body freighter market," commented Richard Greener, senior vice president and manager GECAS Cargo Aircraft Group. "With total firm and option aircraft commitments now at fifty 737-800BCFs, GECAS will commit nearly $1.5 billion worth of 737-800s with conversions to the narrow body freighter sector," he added.

In its latest 20-year forecast, the manufacturer expects demand for 42,730 new aircraft valued at US$6.3 trillion - including 980 production widebody freighters and 1,670 converted airplanes.

"The commercial airplane business fuels an enormous ecosystem of service providers. Our combined forecast shows the full picture of the US$15 trillion commercial market ahead of us," said Randy Tinseth, vice president of Commercial Marketing for Boeing.

"We see a market in which airlines outsource more and more, a market in which data and data analytics help aircraft and airline networks become more efficient and reliable, and a market in which new technologies provide new services solutions. All of these trends drive greater demand for integrated solutions over the life of an airplane," he continued.

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