747 Business JetSeventy-four7 Business Jet
When United Parcel Services ordered 14 more of the planes, the airplane manufacturer won a life line for the vulnerable Jet. It came a few days after Delta Air Lines had parked the last of its 747s, ending the US humpback operator with the nickname Queen of the Skies.
By the end of 2017, Boeing had only 12 orders left in its shrinking 747 inventory, 11 of which were for UPS. Recent agreements foresee more than two years of operation at a jet annual capacity of six years. Under the UPS contract, Boeing is rewarded for its hopes that the dignified jet, which changed traffic when it made its debut in 1970, would continue to operate as a carrier.
In addition, the carrier is taking four Boeing 767 cargo ships with it as it seeks to keep pace with increasing market demands and invests the profits from the recent US corporation income taxes reduction in increased investments. UPS' 747 deals is $5. 65 billion at Boeing's $403 listing cost. 6 million for the cargo ship.
However, with default rebates, the value of the business is nearer $2. 6 billion, according to Avitas, an airplane rating advisor. Each of the 32 new Boeing Jet engines will be shipped by the end of 2022 and will bring more than 9 million lbs of freight carrying capability, UPS said. More than 500 own and lease aircrafts make up the company's worldwide flight fleet.
UPS's appeal for the 747 means that Boeing will produce its biggest airplane in the 2020s, more than half a hundred years after the airplane began carrying people across the world. After receiving a life-saving order from Emirates Airline last months, Airbus is operating at a similar rate to Boeing's 747 for its A380 supercar.
There has been a drop in market for such four-engined airplanes as jet manufacturers have developed twin-engine airplanes such as the Boeing 777 and Airbus A350, which are capable of flying a similar number of passengers over long distance routes.