Lufthansa rides cargo boom with Boeing air-freighter order

DEUTSCHE Lufthansa ordered 10 more Boeing cargo jets, as the carrier looks to keep pace with booming global demand for air freight services.

The airline's cargo division ordered 3 additional Boeing 777F freighters to enter its fleet in the short-term and 7 777-8F cargo jets to enter service from 2027 onwards. The order comes after Lufthansa's cargo division posted record profits last year, helped by a worldwide surge in air freight rates.

"Demand for air freight remains persistently high. Global supply chains continue to be disrupted," Lufthansa said in a statement, adding that one of the 777F freighters is currently flying with another airline and will be transferred to its fleet within weeks.

Air-cargo demand has reached record levels during the coronavirus pandemic, fuelled by disruption to international shipping routes as supply lines fracture and containers stack up in the wrong place, together with a shift to more time-sensitive online shopping that's expected to persist beyond the crisis.

The order marks a coup for Boeing as it wrestles with delays related to the 777X project. The 777-8F aircraft will be based on the 777X, an aircraft that has more efficient engines than its predecessor, helping save airlines' fuel bills.

Lufthansa will also receive 7 Boeing 787-9 long-haul passenger aircraft to fill capacity gaps created by delays to the 777X project. BLOOMBERG