Volga-Dnepr Group signs major deals with Boeing, GE Aviation

Boeing and Volga-Dnepr Group signed a contract today for long-term logistics support for Boeing and its partners. The Russian carrier also inked a deal for twenty 747-8 freighters to grow and upgrade its fleet. The deal was announced at this year’s Farnborough Airshow in the U.K.

The logistics support agreement tasks Volga-Dnepr with long-term logistics support for Boeing Commercial Airplanes and its partners using 747-8Fs and Antonov 124-100 freighters. As the U.S.-based manufacturer has expanded its manufacturing footprint, starting with the 787 about a decade ago, components needed to be brought from around the world to assembly points in the U.S. Volga-Dnepr’s extensive fleet of 747-8Fs and Antonov 124-100 freighters was well suited to the task. This latest deal marks both a continuation of an existing relationship as well as an expansion.

Volga-Dnepr Group and GE Aviation also signed a Memorandum of Understanding (MoU) today to develop a strategic partnership to develop collaborative solutions for both companies as well as for their customers. The two companies have worked together for over 20 years now.

The partnership covers the expansion of Volga-Dnepr Group’s ‘TrueChoice’ Flight Hour agreement with GE. The deal now includes maintenance, repair and overhaul for an additional 88 GEnx-2B engines that power its Boeing 747-8 Freighters. The TrueChoice Flight Hour agreement, according to GE Aviation, is valued at close to US$1.4 billion over the life of the contract.

Alexey Isaykin, President of Volga-Dnepr Group, said that Volga-Dnepr’s growing business in these large cargo deals proved that the “An-124 and Boeing 747-8 four-engine freighters are still essential to serve the fast-changing requirements of our customers worldwide. The most obvious proof of this is the high demand for Boeing 747-8 and Аn-124 freighters from customers in the Aerospace industry, which today represents 30% of our overall operations. This is the reason we continue to be so committed to the future of these glorious aircraft and why we are signing long-term agreements with Boeing and General Electric.”