It appears there is some additional 747-8F news. The 4 frames that Boeing placed on their ASC 606 list earlier this year that were commitments from Volga-Dnepr was apparently due to the fact that Volga could not obtain financing in January for the frame that was due to be delivered in February. Now, due to the increase in demand due to the pandemic, Volga claims they have obtained financing and want delivery of all 4 frames, and the current available frame as quickly as possible.
Boeing, in the article, is said to have already been in the works to place the frames with another customer. It's possible that they are just trying to play hardball with Volga, but if the previous FlightGlobal article is correct, there may be some other customers that are looking for frames still.
It's an interesting position for Boeing to be in, since if they do decide to continue 747 production, Volga is a customer they would like to retain. Theoretically, if they continued to firm up their original MoU in bits and pieces, there would be 9 or 10 more frames that they would order beyond the current 4 that they are discussing.
A follow up to the Volga-Dnepr/Boeing face off. Since it has gone to court, documents have been released that states that Boeing has already resold the frame that was supposed to go to Volga in February to a "Customer A". The article below (behind a paywall, unfortunately) states that they quoted the new customer for Volga's frame in March and came to an agreement in April, with it due to be sold on 4 May. It also states that they believe the customer has agreed to take the other 3 frames of Volga's purchase agreement, as well as potentially an additional 3 for a total of 7.
Speculation has the customer as UPS. I wonder however where the additional 3 frames will come from if those come to pass. Most people had thought that Triumph had only built enough shipsets for the existing backlog.
Post by kevin5345179 on Jul 2, 2020 19:19:31 GMT 1
The last 747-8 will roll out of a Seattle-area factory in about two years, a decision that hasn’t been reported but can be teased out from subtle wording changes in financial statements, people familiar with the matter said.
The Chicago-based company has lost about $40 million for each 747 since 2016, when it slowed production to a trickle, making just six jets a year, Jefferies analyst Sheila Kahyaoglu estimated. All told, Boeing has recorded $4.2 billion in accounting charges for the 747-8, which has been kept alive as a freighter. The 747 notched its last order as a passenger jet in 2017 -- for Air Force One.