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Lufthansa Group is buying new Boeing 777-8 and 787 aircraft

Lufthansa Group is buying new Boeing 777-8 and 787 aircraft
Written by Harry Johnson

The Lufthansa Group is buying more state-of-the-art long-haul aircraft. The Executive Board has decided to purchase:

– seven Boeing 787-9 long-haul passenger aircraft

– three Boeing 777F freighter aircraft (current technology)

– seven Boeing 777-8F freighter aircraft (new technology)

In addition, leases for two Boeing 777F freighter aircraft (current technology), which run until 2024, will be extended.

The Supervisory Board approved the acquisition and the lease extension today.

Boeing 787-9 passenger aircraft compensate delayed 777-9

The seven highly economical and fuel-efficient 787-9 passenger aircraft are intended to fill the capacity gaps created by the delayed delivery of the Boeing 777-9 (originally scheduled for delivery in 2023, currently advised in 2025). Lufthansa will receive the aircraft, which were originally intended for other airlines, in 2025 and 2026. At the same time, the delivery dates for the Boeing 787-9s already ordered from Boeing will be revised and, in some cases, brought forward to 2023 and 2024.

Boeing 777F Freighter considering short term market developments

Demand for air freight remains persistently high. Global supply chains continue to be disrupted. To further maximize very profitable market opportunities in this business segment, Lufthansa Group is purchasing three additional Boeing 777F freighters. One freighter, which has so far been flying for another airline, will be reassigned to Lufthansa Cargo in the upcoming weeks. Two new aircraft will follow later. Additionally, caontracts for two leased 777F will be extended. 

Boeing 777-8F freighter from 2027

As one of the first customers Lufthansa Group purchased seven state-of-the-art and efficient Boeing 777-8F freighter aircraft. They are based on the new technology of the Boeing 777X. The first aircraft will be delivered starting in 2027.

Carsten Spohr, CEO of Deutsche Lufthansa AG, said:

“We continue investing in more fuel-efficient, quieter and more economical aircraft that emit significantly less CO2 . This enables us to drive our fleet modernization. By purchasing these state-of-the-art aircraft, we again underline Lufthansa Group’s ability to invest in and shape the future. Once again, we are again taking the initiative and expanding our leadership role as well as taking responsibility for the environment – with premium products for our customers and a sustainable fleet.”

With Boeing´s new long-haul aircraft, the Lufthansa Group will continue to modernize its fleet with aircraft among the most fuel-efficient and sustainable long-haul aircraft in their class. The Boeing 787-9 passenger aircraft consume about 25 percent less kerosene than their predecessors, the 777-8F freighters nearly 15 percent less kerosene. Both aircraft will have an equally positive effect on the carbon footprint.

Including the measures resolved today, the Group expects net capital expenditures of around 2.5 billion euros in 2022. Annual net capital expenditures are expected to also amount to around 2.5 billion euros up to 2024. The Group expects the cost benefits associated with fleet modernization to drive the achievement of its target to reach an Adjusted EBIT margin of at least 8% and a return on capital employed (Adjusted ROCE) of at least 10% by 2024.

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About the author

Harry Johnson

Harry Johnson has been the assignment editor for eTurboNews for mroe than 20 years. He lives in Honolulu, Hawaii, and is originally from Europe. He enjoys writing and covering the news.

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