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Boeing rents two 747-8 freighters to Russia's AirBridgeCargo Airlines
BOEING Co. is leasing two more homeless 747-8 freighters from its finance arm to AirBridgeCargo Airlines, a unit of Volga-Dnepr Group, which said in June it may acquire up to 20 of the aircraft.
Both new deliveries were so-called "white tails" previously parked at Boeing's plant near Seattle after a previous order was scrapped, according to a person familiar with the situation, reported The Wall Street Journal.
The US aircraft manufacturer said four other completed 747-8s are still parked following order cancellations.
Volga-Dnepr's 20-plane commitment looked to provide a vital boost for a programme that has just 22 outstanding orders for the freighter and passenger versions, forcing Boeing to cut production to just one a month from next March.
However, Boeing faces the challenge of placing the unsold planes and potentially renting or financing additional deals, said aircraft financiers.
AirBridge now rents three 747-8Fs from Boeing, which is also leasing three more to Silk Way West Airlines.
Boeing said it remained in talks with Volga-Dnepr about selling or leasing 18 more of the jets, which AirBridge Cargo president Denis Ilin said could be delivered up to 2022.
The company has delivered 100 747-8s, but has just eight firm orders for the cargo version and 14 for the passenger model, though the latter includes four for bankrupt Russian carrier Transaero.
Japan's Nippon Cargo Airlines in September cancelled an order for four of the freighters, and Boeing has garnered six firm orders for the plane this year, including three from Silk Way and one from Atlas Worldwide Holdings Inc.
Boeing's balance sheet exposure to the 747 increased to US$734 million as of September 30 compared with $461 million a year earlier, according to regulatory filings.
Both new deliveries were so-called "white tails" previously parked at Boeing's plant near Seattle after a previous order was scrapped, according to a person familiar with the situation, reported The Wall Street Journal.
The US aircraft manufacturer said four other completed 747-8s are still parked following order cancellations.
Volga-Dnepr's 20-plane commitment looked to provide a vital boost for a programme that has just 22 outstanding orders for the freighter and passenger versions, forcing Boeing to cut production to just one a month from next March.
However, Boeing faces the challenge of placing the unsold planes and potentially renting or financing additional deals, said aircraft financiers.
AirBridge now rents three 747-8Fs from Boeing, which is also leasing three more to Silk Way West Airlines.
Boeing said it remained in talks with Volga-Dnepr about selling or leasing 18 more of the jets, which AirBridge Cargo president Denis Ilin said could be delivered up to 2022.
The company has delivered 100 747-8s, but has just eight firm orders for the cargo version and 14 for the passenger model, though the latter includes four for bankrupt Russian carrier Transaero.
Japan's Nippon Cargo Airlines in September cancelled an order for four of the freighters, and Boeing has garnered six firm orders for the plane this year, including three from Silk Way and one from Atlas Worldwide Holdings Inc.
Boeing's balance sheet exposure to the 747 increased to US$734 million as of September 30 compared with $461 million a year earlier, according to regulatory filings.
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