Qatar Airways signed an agreement to buy five long-haul Boeing 777s aircraft in a deal worth $1.4 billion at list prices, according to the companies.

Qatar’s fast-growing national carrier ordered three 777 Freighters and two 777-300ERs as it rapidly builds a fleet dominated by aircraft from Boeing and European rival Airbus.

The announcement was made during a New York forum on business and investment in Qatar in the presence of Sheikh Hamad bin Jassem bin Jabor al-Thani, Qatar’s Prime Minister and minister of foreign affairs.

The agreement was signed by Akbar al-Baker, Qatar Airways’ chief executive, and Tony Valentine, sales director, Boeing Commercial Airplanes.

“Qatar Airways has made a significant commitment to the 777, an airplane which has become the flagship of our fleet,” said Mr Al-Baker, chief executive of the carrier.

“The capacity of the Boeing 777 Freighter is unrivalled and its economics make it an attractive addition to our fleet,” he said, noting the additional cargo capacity helps put the carrier in a stronger position to take advantage of “phenomenal” growth in Qatar and the region.

Qatar Airways currently operates eight ultra-long range 777-200LR, 15 777-300ERs and two long-range 777 freighters.

Boeing delivered the airline’s 25th 777 last week.

The Chicago-based aerospace giant says its 777 is the world’s most successful twin-engine, long-haul airplane. It claims the fuel-efficient plane is 19 per cent lighter than its closest competitor and operating costs are 20 per cent lower per seat.