Guggenheim Aviation Partners (GAP) has cancelled its remaining orders for two 747-8F freighters after cancelling its other two in early 2010.
The lessor, which ordered four 747-8Fs in August 2007, says the delays to the aircraft’s development program and the associated economic impact left it with “no alternative” but to cancel the order. Two of Guggenheim’s 747-8Fs on order had been placed with Korean Air Lines.
Boeing now holds orders for 74 747-8Fs from seven customers, only one of which is a lessor, Dubai Aerospace Enterprise (DAE), which has 15 on order.
Following on from delays to the 787 program which has seen engineering resources diverted to that program, and development issues with the 747-8’s flap system, the 747-8F is now not expected to enter service until late 2011.