Boeing’s 747 Jumbo Snags a $5.3 Billion Lifeline From UPS
- Order for 14 almost doubles backlog for ‘Queen of the Skies’
- Courier will deploy new freighters on international routes
UPS CFO on Boeing 747 Order: It Was Time
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Boeing Co.’s 747 jumbo jet may have won a reprieve from an uncertain future as United Parcel Service Inc. agreed to buy at least 14 freighters -- the biggest order in almost nine years.
The deal for 747-8 aircraft, valued at $5.3 billion based on list prices and fueled by UPS’s international expansion, may provide the first signs of an air-cargo recovery that would renew demand for the iconic hump-backed plane dubbed the “Queen of the Skies.” Sales have dwindled for the four-engine 747 and Airbus Group SE’s A380 superjumbo as passenger carriers shift long-range flights to more fuel-efficient twin-engine jets.