The Volga-Dnepr Group, a world leader in transportation of unique, oversize and heavy cargo, have signed a Memorandum of Understanding to further the group’s fleet expansion with 20 additional B747-8 Freighters, valued at US$7.4 billion at list prices.

For Volga Dnepr, adding more B747- 8 Freighters will allow development of the Group’s scheduled business, AirBridgeCargo Airlines (ABC), and keep the airline’s high growth rates, the group said. These additional 20 airplanes will be acquired through a mix of direct purchases and leasing over the next seven years.

Volga Dnepr currently operates 10 An-124-100 and 5 IL-76TD-90VD, all modified under the Group special upgrade program and capable of flying to any point of the world. The fleet also includes 14 B747s – comprised of five B747-400ERFs, three B747-400 Freighters, six B747-8 Freighters – and three B737-400Fs.

The agreement also adds the Antonov-124-100 aircraft to the longterm logistics support for Boeing and its partners. Boeing and Volga Dnepr have a long history of successful partnership with the Group supporting Boeing in a number of shipments. The unique technical abilities of the Antonov 124-100, along with Volga-Dnepr’s 25 years of global operations and experience gained in transportation of aviation equipment, will further serve Boeing’s logistics needs.