UPS to Buy $1.5 Billion of Boeing Freighters as Air Cargo Booms
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UPS 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 Dec. 21. The planes have a combined base value of $1.5 billion, according to aircraft appraiser Avitas, though customers typically receive discounts from list prices.
The purchase bolsters the UPS fleet and adds to a record-breaking year for Boeing’s freighter sales. Air-cargo demand has surged during the pandemic amid a rise in time-sensitive online shopping that is expected to last even after COVID-19 subsides. More companies have turned to air transport lately as ocean cargo routes suffer from delays.
UPS Inc. ranks No. 1 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.
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