AMERICAS: Boeing loses $600M 747-8F Guggenheim order

Leasing company, Guggenheim Aviation Partners has canceled its order for two new 747-8 freighters, which Boeing has seen delayed until mid-2011. Boeing suffered an earlier cut in the deal with Guggenheim halving its original 2006 order of four freighters, which have list prices of US$319.3 million each. Guggenheim reduced the order by 50 per cent […]


Leasing company, Guggenheim Aviation Partners has canceled its order for two new 747-8 freighters, which Boeing has seen delayed until mid-2011. Boeing suffered an earlier cut in the deal with Guggenheim halving its original 2006 order of four freighters, which have list prices of US$319.3 million each. Guggenheim reduced the order by 50 per cent in December 2009 because of uncertainty surrounding the timing of the deliveries. In September 2010 the need to redesign components extended Boeing’s year-wait to 18 months. The design forced engineers to make more changes than expected, leading to problems that now have to be fixed, including buffeting around the wheel well on landings and vibration during flight. Boeing is adding a fifth test aircraft to speed up the work, boosting the initial fleet of three. “Guggenheim has been a great customer, so we’re very disappointed, but it’s part of the ebb and flow of business as you work on development programmes,” Randy Tinseth, Boeing Commercial Airplanes unit’s marketing chief said.