Boeing's faith in air freight pays off with $18b in sales

Beoing stood by the air-cargo market during a withering downturn a decade ago, and that decision is paying off handsomely now. The US planemaker has netted $18.2b in freighter sales and commitments this week at the Farnborough International Airshow, including deals for 48 of the cargo-hauling version of the 777 jet. The customers range from European package-delivery firm DHL to Qatar Airways and Russian bulky-cargo specialist Volga-Dnepr Group. Airbus hasn’t sold a single cargo plane at the show. Boeing’s freighter haul is well above the seven sales tallied for its popular 787 Dreamliner at the industry’s largest trade expo this year. It’s also more than the 34 passenger wide-body aircraft that Boeing and Airbus have sold in total this week, valued at $11.1b before customary discounts. “We’re not done,” Boeing VP Randy Tinseth said. He compiles detailed 20-year market outlooks for the Chicago-based manufacturer. “I think you could refer to it as unprecedented. It’s a testament to the strong two, two and a-half years in the market.” One trigger for the cargo comeback is the growth in online shopping, which has transformed the retail experience. After parking or scrapping freighters during the decade-long slump, many package carriers don’t have enough aircraft on hand to keep pace with demand. There’s also unusual prosperity spanning the globe. <br/>