The newest version of the Boeing 747 family, the Longer Range 747-400 Freighter, has been launched with an initial order of five airplanes from International Lease Finance Corporation. Deliveries of the new model are scheduled to begin in October 2002. The Longer-Range 747-400 Freighter will be able to carry more than 124 tons (113,000 kilograms) of payload, the same as the existing 747-400 Freighter. Operators of the new freighter will have the ability to either fly an additional 520 nautical miles or carry an additional 22,000 pounds of payload.