Boeing lets EVA drop 10 Dreamliners for three 777Fs instead
TAIWAN's Evergreen Airways (EVA Air), a Taiwa has reportedly reached an agreement with Boeing to change seven 787-10 on-order Dreamliners to three 777F cargo and four 787-9 aircraft, reports Aerotime Hub of Vilnius Lithuania
TAIWAN's Evergreen Airways (EVA Air), a Taiwa has reportedly reached an agreement with Boeing to change seven 787-10 on-order Dreamliners to three 777F cargo and four 787-9 aircraft, reports Aerotime Hub of Vilnius Lithuania.
EVA Air posted a 63.5 per cent year-on-year first half drop to NTD46.5 billion (US$1.3 billion) in passenger revenue while experiencing a near 59 per cent growth in cargo revenue.
This prompted EVA Air to act quickly. Last week the airline announced that it has reached an agreement with Boeing about changing seven undelivered 787-10s into three 777F freighters and four, less modern, 787-9s.
Originally, EVA Air had twenty 787-10 Dreamliners on order, which amounted to about US$7 billion. With changes made to the order, Evergreen Airways looks to save around $112 million with the new deal.
With passenger flights down by up to 90 per cent and a slow recovery, IATA does not expect global traffic to return to pre-Covid levels until 2024.
Montreal-based Airports Council International (ACI) is less optimistic, stating that it may take up to two decades for the aviation industry to come back to its projected levels of growth.
Belly capacity has dropped together with passenger flights, making air freight volumes significantly smaller but way more expensive, said the Aerotime Hub.
In turn, cargo is becoming a focal point of operations in the aviation industry as carriers such as Finnair, Icelandair, Swiss International Air Lines and British Airways are converting their passenger aircraft into freighters.
At the same time, Lufthansa and Cathay Pacific have recorded significant growth in cargo revenue, while Korea Air managed to offset its financial downfall by diverting most of its resources to air freight.