Boeing’s 747-8 freighter improves performance but loses orders

A Dubai lessor canceled orders for five 747-8s, though Boeing won two new orders. Boeing says the airplane’s performance is now improved and is close to the original specification.

The troubled airplane leasing unit of Dubai Aerospace Enterprise (DAE) , based in the United Arab Emirates, has canceled orders for five 747-8 freighter jets, Boeing said Thursday.

Partially offsetting that, Boeing in the past week also added a single order for two 747-8 freighters from an unidentified customer. The cancelations come as Boeing has significantly improved the performance of the most recently delivered models of the jet.

The net loss of three orders for the jumbo jets is valued at just over $1 billion at list prices. However, allowing for standard industry discounts, based on market pricing data from aircraft valuation firm Avitas, the estimated actual net loss to Boeing is about $560 million.

Separately, Boeing said an order for one 767 was canceled. The company order Web site shows that this was a 767-300ER canceled by Air Astana, flag carrier of Kazakhstan. Air Astana retains orders for three 767s and three 787 Dreamliners.

DAE’s move reflects its shriveled ambitions.

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