London/Chicago — Boeing is considering whether to convert used 777 passenger aircraft into freighters, seeking to capitalise as booming e-commerce sales spur new demand for air freight worldwide, people familiar with the matter say. While Boeing has studied retrofitting the used wide-bodies for more than a decade, the effort has taken on new life in recent months as air cargo emerged from its recession-era slump, said the people, who asked not to be identified as the matter is confidential. The new product would also fuel sales at a new global services division as Boeing works to more than triple the unit’s $15bn in annual revenue over the next 10 years. Offering revamped versions of the 777-200ERs would expand Boeing’s catalogue of freighters but risk cannibalising sales of factory-fresh aircraft. Demand for conversions is growing as online shopping surges and package couriers seek lower-cost alternatives to buying new planes. Air freight is expected to rise 4.5% in 2018, after gai...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.