Boeing Left With No Net Jumbo-Jet Orders on Nippon Cargo Cutback

Boeing Says Net Orders for 747 Fall to Zero
  • Nippon scraps four freighter orders valued at $1.5 billion
  • Airline has taken delivery of 8 freighters since July 2012

Boeing Co. said Nippon Cargo Airlines Co. scrapped orders for four 747 freighters valued at $1.5 billion, leaving the planemaker with zero net orders for the jumbo jetliners this year.

Nippon Cargo still has two of the jets on order after taking delivery of eight 747-8 freighters since July 2012, according to Boeing’s website.

The cancellation comes as Chicago-based Boeing prepares to cut output of the hump-backed 747 to one plane a month amid waning demand for four-engine aircraft and an air cargo market struggling to gain lift amid China’s economic turmoil.

Through the end of August, Boeing had just 29 unfilled orders for the 747-8, the latest model of its iconic jet. The freighter version is the company’s second-most expensive aircraft, with a list price of $379.1 million. The twin-engine 777-9 is costliest, with a $400 million price tag.

“We work very closely with all of our customers to understand their evolving fleet requirements” Doug Alder, a Boeing spokesman said in an e-mail. “Nippon Cargo Airlines remains an important customer of the 747-8F.”

Nippon Cargo, based at Tokyo’s Narita International Airport, also flies five Boeing 747-400F jets in addition to the eight 747-8Fs, according to the Japanese company’s website.

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