Boeing Co, the worldâs second-largest maker of commercial aircraft, committed to building a bigger and more efficient version of the 747 to challenge Airbus SASâ A380 in the market for planes seating more than 400 passengers. Boeing, based in Chicago, today announced firm orders for the cargo version of the new 747 from Luxembourgâs Cargolux Airlines International SA and Japanâs Nippon Cargo Airlines Co for a total of 18 planes worth US$5 billion (US$1 = RM3.78) at list prices, or about US$278 million for each plane. Airbusâs A380 passenger plane lists for US$280 million and the freighter version for US$300 million.
The new plane will borrow technology developed for Boeingâs new 787 jet, including General Electric Co engines to provide 20 per cent lower trip costs, Boeing said. The plane will have 34 more seats and carry 15 more tonnes of freight than the current 747. The new technologies and bigger size will make it more of a challenge to the A380, which is about 35 per cent bigger than the current Boeing 747 and cost US$12 billion to develop. âThis means a really bad year for Airbus just got much worse,â said Doug McVitie, managing director of Arran Aerospace, an aerospace consulting company in Dinan, France. âFor Boeing to be able to say theyâre going to have 20 per cent better economics than the A380 means Boeing is taking the high ground.â
Shares of European Aeronautic, Defence & Space Co, the owner of Toulouse, France-based Airbus, fell as much as 19 cents, or 0.6 per cent, to e29.68 (e 1 = RM4.42) and were down 18 cents in Paris. EADS has gained 39 per cent this year compared with a 28 per cent advance for Boeing. Airbus said earlier this year that it is running six months late on production and deliveries of the A380, which will result in paying unspecified financial penalties to several airlines. Boeing also is outstripping Airbus with new orders this year, powered by demand for the 787 Dreamliner.
Cargolux, based in Luxembourg, ordered 10 747-8 freighters and will take delivery of the first in the third quarter of 2009. It also holds purchase rights for 10 additional planes. Cargolux currently operates an all-Boeing fleet of 13 747-400 freighters. Nippon Cargo Airlines ordered eight 747-8 freighters and will receive its first airplane in late 2009. The airline also acquired options for six additional airplanes. Nippon Cargo currently operates 13 747 freighters and has six more 747-400Fs on order. | Shouldn't need a special runway to land them on like the AirBusted monster requires |
âIf the investment for Boeing is an incremental cost in comparison to what Airbus spent on the A380, then itâs worth the risk-reward for them,â said Will Mackie, an analyst at Mainfirst Bank AG in London.
âWith the 747 Advanced, they can maintain their position in the marketplace, disrupt the competitive balance with Airbus, and keep a full product lineup,â he said. |