The Volga-Dnepr Group has finalized a deal with Boeing at the Farnborough International Airshow to buy 20 747-8 Freighters and has also signed a global strategic partnership agreement with GE Aviation.

“Volga-Dnepr intends to provide strong evidence to the market that the unique An-124 and Boeing 747-8 four-engine freighters are still essential to serve the fast-changing requirements of our customers worldwide,” said Alexey Isaykin, president of the Volga-Dnepr Group [right in photo]. “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 in the Cargo Village at Farnborough.”

The order includes four aircraft that have already been delivered. One was recently delivered to CargoLogicAir, a British subsidiary of Volga-Dnepr.

“Volga-Dnepr Group is a world-class cargo carrier and an outstanding service provider,” said Ray Conner, president and CEO of Boeing Commercial Airplanes [left in photo]. “Boeing and Volga-Dnepr Group have a long history of successful partnership and I am very proud we can continue this journey together.”

The order breathes new life into the 747-8 programme, which is currently running at a production rate of one per month. Because of slowing cargo demand, Boeing announced in January that it would further lower the rate to 0.5 per month in September 2016.

Under the agreement with GE Aviation, Volga-Dnepr will use its 747-8Fs and An-124 freighters to provide GE with transportation support, while GE will provide maintenance, repair and overhaul services for 88 additional GEnx-2B engines that power Volga-Dnepr’s 747-8Fs.

“Volga-Dnepr has set itself apart in the international air logistics and cargo market, and our two companies have forged a strong relationship over the years,” said David Joyce, president and chief executive officer of GE Aviation. “We look forward to finalizing this strategic partnership that will create winning solutions for both Volga-Dnepr and GE and allow each of us to take advantage of the other’s core competencies to benefit our businesses and our customers.”

According to Volga-Dnepr, the agreement also covers cooperation in finance, marketing and HR training.

The Volga-Dnepr Group operated a fleet of three 737-400Fs, three 747-400Fs, five 747-400ERFs, eight 747-8Fs, 12 Antonov An-124-100s and five Ilyushin IL-76TD-90VDs.