Boeing nears $4-billion deal with Russian firm to save 747 jumbo jet

Chicago, June 20: Boeing is nearing a $4 billion deal with Russia’s largest air-freight company that would help extend the life of the iconic, hump-nosed 747 jumbo jet amid waning demand for fourengine aircraft, people close to the transaction said.

The US planemaker is in advanced talks with AirBridgeCargo Airlines and its Moscowbased parent, Volga-Dnepr Group, to convert a year-old commitment into more than 10 fir m orders for 747-8 freighters, two of the people said. The agreement could be announced as soon as the Farnborough Airshow next month in England, according to four people briefed on the deal, who asked not to be identified because

June 20: Dell has agreed to sell its software unit to buyout firm Francisco Partners Management and the private equity arm of activist investor Elliott Management. The sale of the unit, which is focused on advanced analytics, database management and data protection, comes as Dell seeks to reduce its debt burden after a series of deals since its own buyout in 2013. Terms weren’t provided in the statement released on Monday. Chief Executive Officer and founder Michael Dell agreed in October to buy EMC for $67 billion to broaden the company’s product lineup from servers to storage devices amid intensifying competition. Dell, which has said it will add about $50 billion in debt to get the EMC deal done, expects the purchase to close between June and October, people familiar with the matter have said. Bloomberg the talks are confidential.

The deal would provide a crucial lifeline for the “Queen of the Skies” as Boeing tries to preserve production until the air-cargo market revives or shipping companies start to replace aging wide-body fleets.

Bloomberg