UPS Purchases 14 New 747-8F Jumbo Freighters
October 27 2016 - 9:30AM
UPS (NYSE:UPS) today announced it has ordered 14 new Boeing
747-8 cargo jets to meet increased demand for the company’s air
shipping services. UPS’s long term strategy is to increase
customers’ access to global markets and air shipments are a major
growth opportunity for the company. The 747-8s will enable UPS to
begin a cascade of aircraft route reassignments that will add
significant air capacity to the company’s busiest lanes, thereby
optimizing global air network capacity well beyond the impact of
adding new cargo jets.
“UPS is making several strategic capital investments for
increased global operating capacity,” said David Abney, UPS
chairman and CEO. “These investments will help enable
customers to expand their presence in new and existing markets
while fueling our profitable growth and attainment of UPS’s long
term business objectives.”
The 14 aircraft are to be delivered between 2017 and 2020. The
value of the contract, which also contains options for 14
additional jets in the future, was not disclosed. The new jumbo
freighters will be added to the company’s existing operating fleet
of more than 500 aircraft.
In addition, the 747-8 offers training and operating
efficiencies to UPS. Pilots of the company’s existing 747-400 fleet
will enjoy a common equipment rating, allowing them to fly both
aircraft types. Further, UPS will realize greater economies of
scale in maintenance and ground handling by operating the -8
aircraft.
The 747-8 freighters carry 34 shipping containers on its main
deck and 14 in its lower compartments. The -8 has a cargo
capacity of 307,600 pounds, or approximately 30,000 packages and a
range of 4,340 nautical miles. The new -8 aircraft line has a
strong industry safety and reliability record.
“We benefit from the youngest fleet in the industry and we are
continuously investing for both operating safety and efficiency,”
said Brendan Canavan, UPS Airlines president. “This
investment supports our customers’ future capacity needs while also
reducing fuel use and emissions, which enhances UPS Airlines’
position as an industry leader in sustainability.”
About UPS
UPS (NYSE:UPS) is a global leader in logistics, offering a broad
range of solutions including the transportation of packages and
freight; the facilitation of international trade, and the
deployment of advanced technology to more efficiently manage the
world of business. Headquartered in Atlanta, UPS serves more than
220 countries and territories worldwide. The company can be found
on the Web at UPS.com and its corporate blog can be found at
blog.ups.com. To get UPS news direct, visit
pressroom.ups.com/RSS.
# # #
Editor’s note: Photos, Videos and Fact Sheet are available at
this link.
Mike Mangeot
UPS Airlines
502-329-3060
mmangeot@ups.com
Glenn Zaccara
UPS
404-828-4663
gzaccara@ups.com
United Parcel Service (NYSE:UPS)
Historical Stock Chart
From Mar 2024 to Apr 2024
United Parcel Service (NYSE:UPS)
Historical Stock Chart
From Apr 2023 to Apr 2024