Hard landing

 

PRICES FOR Boeing 747-400s, the most popular wide-body aircraft, are tumbling as carriers rush to replace them with more fuel-efficient models.

Ten-year-old passenger 747-400s are worth a record low $36 million, about 10 per cent less than similar-aged planes last year, according to Ascend Worldwide Ltd, amid high fuel costs and a cargo slump that has damped interest in converting aircraft into freighters.

Some 48 of the 404 passenger 747-400s worldwide have also been placed in storage, according to the London-based aviation consultancy, as the aircraft is shunned for 777s and Airbus SAS A380s. – (Bloomberg)