CargoLogicHolding, owner of UK-based operator CargoLogicAir, and partner Moscow-based specialty cargo handler Volga-Dneper Group, signed a joint letter of intent (LOI) with Boeing on Tuesday at the Farnborough Airshow to acquire 29 Boeing 777 freighters, along with converted 767 freighters and converted 737 freighters. At the same time, the companies reaffirmed an order for five 747-8F freighters. The 747 and 777 deals are worth $9.8 billion and $2 billion, respectively, at list prices, said Boeing.

Crew-pairing solutions and an agreement to explore future freighter projects are also included in the agreements, according to a Volga-Dnepr spokesperson, who added that the 737 freighters would include both the -400 and, “ultimately,” -800 models. The companies provided no timeline for expected deliveries.

“This is a very significant day in our company’s history,” said Alexey Isaykin, president of Volga-Dnepr Group and chairman of CargoLogicHolding (Cargo Village, Outside Exhibit 32). “With this package of agreements, we will grow our business with the unique and unmatched 747-8F freighter and open new market opportunities with the 777 freighter.”

Boeing Commercial Airplanes president and CEO Kevin McAllister said his company is “extremely honored that Volga-Dnepr Group and CargoLogicHolding have once again placed their trust on Boeing’s freighter family to carry their business into the future. We look forward to expanding our relationship with our great partners and delivering new freighters to them for many years to come.”

With the resurgence in the airfreight market—which grew nearly 10 percent last year, according to Boeing—the U.S. manufacturer has reported a big spike in interest for cargo jets, with orders and commitments for more than 100 production and converted freighters received so far this year.