UPS places order for eight more Boeing 767 freighters
The package delivery company placed a prior order with Boeing last year
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Boeing announced Monday that UPS ordered eight more 767 freighter aircraft from the aerospace company.
The package delivery giant will start receiving the new planes in 2025, with an "additional 767-300 Boeing Converted Freighter (BCF) entering service in late 2023," Boeing said in a press release. UPS previously ordered 19 Boeing 767 freighters in December 2021.
"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," Nando Cesarone, the U.S. executive vice president and president of UPS, said in the release. "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."
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The order of eight additional cargo jets brings UPS fleet of 767 freighters up to 108 aircraft. The package delivery giant operates over 230 Boeing freighters of various types, including the 767 model, according to the release.
The United Parcel Service Inc. (UPS) logo is displayed on a truck parked in New York, U.S., on Friday, Oct. 23, 2015. UPS is scheduled to release third-quarter earnings results on October 27. (Photographer: Michael Nagle/Bloomberg via Getty Images / Getty Images)
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In mid-July, Boeing predicted in its annual Commercial Market Outlook that carriers will need an additional 2,795 freighters between 2022 and 2041, including 940 new ones and 1,855 converted passenger plane ones. The freighter fleet will increase by 80% in the next 20 years, the aerospace company also forecasted.
Both Boeing and UPS reported their second quarter earnings in late July.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 139.65 | +1.51 | +1.09% |
| UPS | UNITED PARCEL SERVICE INC. | 133.43 | +0.79 | +0.60% |
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Boeing reported about $16.68 billion in revenues for the second quarter of 2022, down from the $16.998 billion it reported in the second quarter of the prior year. The net earnings narrowed to $160 million from $567 million.
Signage for Boeing is seen on a trade pavilion at Farnborough International Airshow in Farnborough, Britain, July 17, 2018. (REUTERS/Toby Melville/File Photo / Reuters Photos)
For the second quarter of 2022, UPS reported consolidated revenues of roughly $24.8 billion, an increase of 5.7% over 2021's second quarter.