Indian cargo airline Afcom Holdings has signed a Letter of Intent (LOI) with Boeing for up to four 777-8F freighters, outlining plans for a sharp increase in capacity at a carrier that currently operates only three narrowbody cargo aircraft.
The agreement was signed on September 2 and disclosed by Afcom to the BSE. It remains subject to a definitive purchase agreement, meaning the aircraft are not yet part of Boeing’s firm order backlog.
If completed, the deal would make Afcom the first Indian airline to order the 777-8F. The company plans to base the widebody aircraft in Chennai and use them on long-haul cargo routes.
Afcom currently operates three converted Boeing 737-800 freighters with an average age of 25.7 years, according to Planespotters.net. All three have joined the airline since 2024, with the most recent aircraft arriving in June 2026.
The 777-8F would give Afcom around five times the cargo capacity of its current 737-800 freighters and allow the airline to operate sectors exceeding 10 hours.
First widebody fleet
The planned 777-8Fs are not intended to replace the existing aircraft. Afcom is also working to increase its 737 freighter fleet from three to five jets, while the Boeing widebodies would be used for a new long-haul operation.
Chairman Deepak Parasuraman said the final number of 777-8Fs could change during negotiations, although the company intends to acquire four. Afcom has not disclosed prices or a delivery schedule.
The carrier plans to use the aircraft to expand into markets in the Far East and Africa, carrying cargo including pharmaceuticals, perishables, engineering equipment and automotive components.
Afcom recently expanded its international network with a three-times-weekly service between Navi Mumbai International Airport and Dubai World Central, launched on August 17.
The fleet plans follow rapid growth at the company. Afcom reported revenue of ₹5.83 billion (US$61.7 million) in the financial year ended March 2026, up from ₹2.39 billion (US$25.3 million) a year earlier. Net profit increased from ₹369 million (US$3.9 million) to ₹1.22 billion (US$12.9 million).
777-8F customers
The 777-8F is the cargo version of Boeing’s 777X and is being developed to succeed the current 777F. The new aircraft is powered by GE Aerospace GE9X engines and is designed to carry about 118 tonnes of payload.
Afcom’s agreement comes as Ethiopian Airlines is negotiating another commitment for the aircraft. The African carrier could acquire six to eight 777-8Fs alongside two additional 777Fs, according to a Reuters report.
Ethiopian already operates 12 777Fs and has a longer history with the new model. In March 2022, it signed a Memorandum of Understanding with Boeing for five 777-8Fs, shortly after the freighter was launched. That preliminary agreement was never publicly converted into a firm order.
The latest negotiations could increase Ethiopian’s planned 777-8F fleet beyond the five aircraft covered by the 2022 MoU, although it is unclear whether the six to eight aircraft now under discussion include that earlier commitment.
