China Southern orders 7 B777 freighters including 5 B777-8Fs

CSA Cargo, the 55%-owned cargo subsidiary of China Southern Airlines Company Limited, has signed an aircraft purchase agreement with Boeing for seven new widebody freighters, comprising five B777-8F aircraft and two B777F aircraft. The deal, disclosed to the Hong Kong and Shanghai stock exchanges after trading hours on June 26, 2026, also secures CSA Cargo the right to purchase three additional B777-8F aircraft.

Boeing lists the B777-8F at approximately US$540 million per aircraft and the B777F at US$458 million apiece. At catalogue prices, the seven-aircraft order carries a combined list value of around US$3.6 billion. Such catalogue price includes price for airframe and engine. The actual consideration, negotiated at arm's length, is lower, reflecting price concessions consistent with those obtained by the group in previous Boeing transactions. The actual figure has not been disclosed, with the Stock Exchange of Hong Kong granting a waiver from strict compliance with listing rule disclosure requirements.

The aircraft will be delivered in stages between 2027 and 2034, funded entirely from the group's internal resources. The purchase remains subject to approval from relevant government authorities in the People's Republic of China.

CSA Cargo cited the continued maturation of cross-border e-commerce, accelerating industrial globalisation, and major national strategies — including the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road Initiative — as the strategic backdrop for the investment. They are actively seizing development opportunities, maintaining steady growth in capacity share, and further optimizing their fleet structure. The board stated that the purchase "will help enhance the profitability and core competitiveness of the China Southern and CSA Cargo."

The total cargo fleet currently stands at 19 B777Fs, split between China Southern Airlines and CSA Cargo (call sign: Southern Cargo). The former operates six freighters, including one parked aircraft, while the latter has 13 active freighters.