Bruce Barnard | May 20, 2011 10:34AM EDT
Lufthansa finalized an order for five 777 freighters valued at $1.3 billion at list prices that will consolidate its position as Europe’s biggest cargo airline.
The German carrier, which announced its intention to order the aircraft in March, has yet to decide whether they will fly for its Lufthansa Cargo unit, or AeroLogic, the airline’s joint venture with DHL Express.
Lufthansa is likely to decide closer to the delivery of the planes which is scheduled for 2013.
Boeing’s 777 is the world’s longest range twin-engine freighter, able to fly 4,900 miles with a maximum payload of 102 metric tons.
Leipzig-based AeroLogic operates eight leased 777 freighters and Lufthansa Cargo has 18 MD-11 cargo aircraft.
Lufthansa Cargo recently reported its profit nearly doubled in the first quarter to $92 million.