747-8 freighter delivered

  • By Michelle Dunlop Herald Writer
  • Wednesday, October 12, 2011 3:47pm
  • Business

The Boeing Co. quietly handed over its first 747-8 freighter Wednesday, more than three weeks after Cargolux refused to take delivery of the jumbo jet.

The Luxembourg-based Cargolux will receive its second 747 freighter Thursday.

“Even though we had to wait a bit longer than expected,

it doesn’t make these deliveries any less sweet,” Boeing’s Randy Tinseth, vice president of marketing, wrote on his blog.

The delivery was announced by Tinseth on his blog — a much different approach than Boeing and Cargolux took when the cargo plane was to be delivered Sept. 19.

Just days before that September date, Cargolux called off the delivery, citing unresolved issues. Boeing and Cargolux had planned three days of celebration to which media from around the world were invited. Those events included a party with Boeing employees and a secret musical performer.

Boeing is roughly two years late in delivering its first 747-8 freighter, which is the jet maker’s biggest plane. Boeing has said its updated 747 will carry more cargo but use less fuel to do so.

On Wednesday, Cargolux shed some light on the issues that led the carrier to reject the 747-8. The company said it finally had resolved contractual issues with Boeing and engine-maker General Electric relating to the performance of both the 747-8 and its engines. Boeing has acknowledged that some of the early-built 747-8s fall slightly short of expected fuel efficiency, which is typical for new airplane programs.

“We know Cargolux and every customer after them will love this airplane in every way — from how it flies to how it performs,” Tinseth wrote.

When Cargolux called off the delivery, analysts speculated that Cargolux might be seeking more compensation for the 747-8’s delay as well as the freighter not meeting performance expectations. Shortly after Cargolux postponed the 747-8’s delivery, Atlas Air canceled delivery of three 747-8 freighters because of delays and fuel performance concerns. The carrier still plans to take delivery of some later-built 747s.

The rejection also involved Qatar Airways, which bought a 35 percent stake in Cargolux shortly before the 747 was to be delivered. Qatar’s chief executive, Akbar Al-Baker, visited Everett to accept delivery of his company’s 100th 777 and acknowledged that the 747-8 performance was also discussed during the visit.

On Wednesday, Cargolux’s chief executive, Frank Reimen said his company looks forward to “the efficiency and environmental benefits that come with this great airplane.”

After receiving the 747-8 from Boeing in Everett, Cargolux flew the freighter to Seattle to pick up cargo before flying the new plane home to Luxembourg. Cargolux has 13 747 freighters on order with Boeing.

“The 747-8 freighter will be a driver of profitable growth for Cargolux,” Reimen said in a statement.

Boeing has orders for 75 747-8 freighters from eight customers. The company also plans to deliver its first 747-8 passenger plane by year’s end. Called the Intercontinental, Boeing’s 747-8 passenger plane has won 36 orders since its launch in 2005. Company executives have said that more orders for the passenger version are on the way.

Boeing’s shares closed at $64.32 on Wednesday, up 35 cents.

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