UPS orders 14 B747-8 freighters from Boeing worth $5.3B

31st October 2016

Boeing and UPS, a logistic company, announced an order for 14 B747-8 freighters for $5.3 billion. The agreement also includes an option to purchase an additional 14 of the cargo airplanes.

Brendan Canavan, President, UPS Airlines, said: “These aircraft are a strategic investment for increased capacity for UPS customers around the globe.”

Boeing claimed that the B747-8 provides cargo operators the lowest operating costs and best economics of any large freighter. The airplane has 16 percent more revenue cargo volume than the B747-400F.

Brad McMullen, Vice President, Sales, North America and Leasing, Boeing Commercial Airplanes, said: “We’ve continued to make the 747-8 Freighter even better, and we look forward to seeing UPS introduce it to its fleet.”

Previously, the aircraft manufacturer projected that air cargo traffic will grow at an annual rate of 4.2% over the next 20 years, with 930 new and 1,440 converted freighters needed to meet market demand by 2035.