China Postal Airlines has signed an agreement with Boeing to order 10 737 Boeing Converted Freighters, subject to the launch of the aircraft programme.

“We are honoured that China Postal Airlines has put their trust in Boeing as they expand their freighter fleet,” said Rick Anderson, vice president of sale and marketing at Boeing Commercial Aviation Services. “We are committed to this programme, which addresses a growing need in the market, and are currently working closely with multiple customers in China and around the world who are interested in the experience, reliable execution and seamless global support Boeing brings.”

According to Boeing, China Postal will also acquire seven 757-200s under the agreement, with the intention to convert them into freighters.

The 737BCF, which is based on the 737-800, will be launched by China Postal and YTO Airlines, another cargo carrier based in Hangzhou.

“This is a historic order both for China Postal and Boeing,” said Yufeng Li, president of China Postal Airlines. “The 737-.800 BCF will bring to our freighter fleet more advanced avionics better fuel efficiency and lower operating costs that will ensure China Postal’s continued success as a leader in the industry.”

While Boeing’s World Air Cargo Forecast predicts that global traffic will grow at a rate of 4.7% per year over the next 20 years, the domestic China and intra-Asia markets are expected to grow 6.7% and 6.5% respectively within the same period.

“With its express market growing at a double-digit rate fuelled by e-commerce, China has surpassed the United States to become the number-one e-commerce market in the world,” said Ihssane Mounir, senior vice president of Northeast Asia sales at Boeing Commercial Airplanes. “Boeing is committed to supporting China Postal Airlines and other express carriers to harvest this opportunity and become competitive in the global market.”