The air cargo business, booming as never before during the global pandemic, is massively dominated by Boeing jets that make up most of the worldwide air freighter fleet. Yet there is a threat to that dominance.

Boeing is close to finalizing a deal to transfer the lease of its Dreamlifter Operations Center at Paine Field in Everett, Wash., to air cargo carrier FedEx Corp., according to a document reviewed by the Seattle Times that outlines terms of the discussion.

Reaping the benefit of a worldwide recovery in air cargo, even amid fears of a global trade war, Boeing on June 20 announced a big order from air package-delivery specialist FedEx Express.