Atlas Air orders 4 remaining B747-8Fs
Boeing Co won an order from Atlas Air, the world’s largest 747 operator, for the final four humpbacked freighters that will roll out of the planemaker’s Seattle-area factory.
In a second boost for Boeing, DHL Express is ordering eight of the company’s 777 freighters and taking options for another four, expanding a 2018 deal as the coronavirus pandemic spurs demand for air-cargo shipments.
The freighter sales are a rare bright spot for wide-body jets as the pandemic curbs demand for long-distance passenger planes.
The deals unveiled on Tuesday resolve some of the uncertainty around two of Boeing’s twin-aisle programmes as the company grapples with manufacturing defects for a third: the 787 Dreamliner.
As Boeing winds down jumbo output after more than half a century, it is relying on the 777 freighter to tide over production until an upgraded passenger model reaches the market.
That model, the 777X, is at least two years behind schedule and could face further delays as the first new model to be certified since two fatal crashes of Boeing’s 737 MAX.
Atlas plans to take the four 747-8 freighters from May through October 2022.
The deal ends the risk that Boeing would be left to market so-called white tail-aircraft — jets without buyers — as it builds the final 11 jumbos.
Boeing’s backlog had shown that sales of three of the planes were at risk after a trade dispute with Russia’s Volga-Dnepr Group led to litigation.
Boeing’s 747-8 freighter has a current market value of $180.2 million while the 777 freighter is valued at $166.1 million, according to aircraft appraiser Avitas Inc.
That would put the total pocketed by Boeing for the dozen new orders at around $2 billion.
Atlas said its order would boost its ability to serve the surging market for e-commerce packages.
The cargo carrier, which already operates a fleet of 53 747s, “will ensure that the plane nicknamed the ‘Queen of the Skies’ continues to play a significant role in the global air cargo market for decades to come,” Stan Deal, head of Boeing’s jetliner unit, said in a statement.
Deutsche Post AG’s DHL division
also cited the surge in online shopping for its purchase of 777 jets.
“With the order of eight new widebody freighter aircraft, we underline our conviction that e-commerce is an enduring mega trend,” John Pearson, CEO of DHL Express, said. “This is why we decided to act early and kick off 2021 with this investment in our future.”