Business & Tech
Boeing Loses Order for Five 747-8s, Storing Others for Deferred Delivery
The Dubai-based air leasing firm DAE Capital cancels orders for five 747-8s in the midst of a slumping air cargo market.
Seems time might be running out on Boeing’s workhorse jumbo jet the 747, with the company losing an order for five of them Thursday and acknowledging it is storing several ordered by companies stuck in the air cargo market slump.
Some industry observers expect Boeing’s newer 777 to eventually replace the 747, and last month Boeing cut production of the 747-8 at Everett from two to 1.75 planes per month, citing slacking worldwide demand.
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The Seattle Times reports that struggling DAE Capital, a Dubai air leasing firm, canceled its order for five 747-8s, leaving Boeing with 59 unfilled orders for the plane.
In addition, Boeing has parked at least five of the 747-8s for deferred delivery to airlines, including Volga-Dnepr of Russia; Nippon Cargo of Japan and Korean Air Lines.
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For the full Times story, click here.
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