Guggenheim Aviation Partners cancels its 747-8F orders

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US-based lessor GUGGENHEIM AVIATION PARTNERS (GAP) canceled its firm order with BOEING for two 747-8 Freighters. GAP was one of only two lessors with 747-8F orders, and the cancellation leaves Boeing with a total of 74 orders, from one lessor (Dubai Aerospace Enterprise) and six carriers (Atlas Air, Cargolux, Cathay Pacific, Korean Air, Nippon Cargo Airlines, and Volga-Dnepr Airlines).

Guggenheim CEO Steve Rimmer told Cargo Facts that the company had already placed the two freighters with Korean Air, and added: “The cancellation was a direct result of the delays and the impact of those delays. We were very disappointed and surprised that we were left with no alternative but to terminate our agreement to purchase the two 747-8Fs.”

For its part, Boeing said “Guggenheim’s lessee remains committed to the aircraft, and Boeing is working with that operator to make sure that we can support their plans to operate the airplanes.”