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UPS to buy 14 Boeing 747-8 jumbo freighters for US$5.3 billion
BOEING's 747 jumbo jet may have won a reprieve from an uncertain future as United Parcel Service agreed to buy at least 14 freighters - the biggest order in almost nine years.
The deal for 747-8 aircraft, valued at $5.3 billion based on list prices and fuelled by UPS's international expansion, may provide the first signs of an air-cargo recovery that would renew demand for 747 aircraft, the Chicago Tribune reported.
Sales have dwindled for the four-engine 747 and Airbus Group's A380 superjumbo as passenger carriers shift long-range flights to more fuel-efficient twin-engine jets.
UPS will deploy the front-loading cargo planes on international routes while shifting some earlier-model 747s to domestic flying, the Atlanta-based courier said Thursday.
The jets, which will be delivered over a three-year period starting in 2017, will begin a "cascade" of aircraft-route reassignments that will add significant capacity to the company's busiest lanes.
"UPS is making several strategic capital investments for increased global operating capacity," CEO David Abney said in a statement.
UPS's international export volume has grown by more than 40 per cent since 2008, with US domestic volume rising by 20 per cent, said US operations chief Myron Gray.
That growth spurt should support the addition of the bigger 747-8 freighters, which can carry 16 per cent more cargo than their predecessors, according to Boeing.
The shift will enable UPS to reduce the frequency of flights in overseas markets, Mr Gray said.
For more, visit www.shippingazette.com
The deal for 747-8 aircraft, valued at $5.3 billion based on list prices and fuelled by UPS's international expansion, may provide the first signs of an air-cargo recovery that would renew demand for 747 aircraft, the Chicago Tribune reported.
Sales have dwindled for the four-engine 747 and Airbus Group's A380 superjumbo as passenger carriers shift long-range flights to more fuel-efficient twin-engine jets.
UPS will deploy the front-loading cargo planes on international routes while shifting some earlier-model 747s to domestic flying, the Atlanta-based courier said Thursday.
The jets, which will be delivered over a three-year period starting in 2017, will begin a "cascade" of aircraft-route reassignments that will add significant capacity to the company's busiest lanes.
"UPS is making several strategic capital investments for increased global operating capacity," CEO David Abney said in a statement.
UPS's international export volume has grown by more than 40 per cent since 2008, with US domestic volume rising by 20 per cent, said US operations chief Myron Gray.
That growth spurt should support the addition of the bigger 747-8 freighters, which can carry 16 per cent more cargo than their predecessors, according to Boeing.
The shift will enable UPS to reduce the frequency of flights in overseas markets, Mr Gray said.
For more, visit www.shippingazette.com
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