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UPS to Buy $1.5 Billion of Boeing Freighters as Air Cargo Booms

A Boeing 747 at UPS Worldport overnight shipping operations at Louisville International Airport in Louisville, Kentucky.

A Boeing 747 at UPS Worldport overnight shipping operations at Louisville International Airport in Louisville, Kentucky.

Photographer: Luke Sharrett/Bloomberg
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United Parcel Service Inc. agreed to buy 19 Boeing Co. freighter jets as soaring e-commerce and snarled shipping lines lead to a boom in air-cargo demand.

The package-delivery giant plans to accept the 767 Freighters between 2023 and 2025, according to a statement Tuesday. The planes have a combined base value of $1.5 billion, according to aircraft appraiser Avitas.