Boeing: Boeing Announces UPS Purchase of Eight Additional 767s

Boeing [NYSE:BA] today announced an order from UPS for eight more 767 Freighters. The incremental order will increase UPS’s 767 Freighter fleet to 108 airplanes, enabling the global carrier to further modernize and sustainably grow its fleet.

“The additional 767s will help us continue to deliver what matters to UPS customers around the world. This is a very versatile aircraft that we operate across every region of the globe,” said UPS Executive Vice President and President U.S. Nando Cesarone. “With these aircraft, our fleet will continue to be among the most modern in our industry, meeting our customers’ needs while improving our efficiency, sustainability and reliability.”

Air cargo continues to play a crucial role in global trade, from supporting supply chains to expanding e-commerce. The International Air Transport Association (IATA) has estimated that global air cargo revenue in 2021 was more than double the revenue in pre-pandemic 2019.

“This repeat order from UPS is a testament to the outstanding cargo capabilities of the 767 Freighter and further demonstrates Boeing’s market leadership in the freighter segment,” said Ihssane Mounir, Boeing senior vice president of Commercial Sales and Marketing. “UPS will operate more than 100 767 Freighters with this order and will build its fleet of Boeing and Boeing-heritage airplanes to more than 260 airplanes. We are honored to play an important role in UPS’s efforts to operate a more sustainable, more efficient fleet.”

UPS will begin taking delivery of these new airplanes in 2025, with an additional 767-300 Boeing Converted Freighter (BCF) entering service in late 2023. This purchase builds on UPS’s order for 19 767 Freighters in December 2021.

Based on the 767-300ER (Extended Range) passenger jet, the 767 Freighter carries up to 52.4 tonnes of revenue cargo with intercontinental range, serving as a flexible platform for long-haul, regional and feeder markets. UPS was the launch customer for the 767 Freighter in 1995 and has purchased a total of 108 of the model. The carrier currently operates 238 Boeing freighters including the 747, 757, 767 and MD-11.

According to Boeing’s 2022 Commercial Market Outlook forecast, carriers will require 2,795 more dedicated freighters over the next 20 years, including 940 new widebodies, 555 widebody converted freighters and 1,300 standard body conversions. The global freighter fleet will grow to 3,610 airplanes by 2041, up from 2,250 today. Today, Boeing freighters account for 90% of the world’s freighter capacity, flying millions of tonnes of goods around the globe.

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing’s diverse team is committed to innovating for the future and living the company’s core values of safety, quality and integrity.