THE CHANGING CONVERSION MARKET: THE CASE OF THE 747-400 SPECIAL FREIGHTER

摘要

The past months have seen considerable activity in the passenger-to-freighter conversion market, particularly with the launch of the longanticipated 747-400 Special Freighter program - which, in some respects, is not following the typical pattern for conversions. As Cargo Facts has long predicted, with the return to economic health following three difficult years for the aviation industry (and for the world economy in general), pent-up demand for main-deck capacity is being released with a flood of new orders, particularly for 737-300SFs, 757-200SFs, and 747-400SFs. Boeing launched the 747-400SF program with an order for six firm and six options from Cathay, with the first conversions to be done at Taeco's Xiamen facility (in which Cathay has an ownership interest). Almost immediately, more orders for -400 conversions have poured in. Taeco has disclosed that it now has thirteen firm orders from Boeing, with some of them going to Japanese and Korean carriers (likely Japan Airlines and Korean Air), and is essentially booked solid through 2008. Dragonair has purchased five 747-400s from Singapore Airlines, to be delivered as Special Freighters, and Singapore has sold three other -400s, also to be delivered as SFs, to an undisclosed customer (widely assumed to be Cathay).