China Airlines Sells Five Boeing 747 Cargo Aircraft

DALLAS — China Airlines (CI), Taiwan's national carrier, recently announced that it had signed agreements to sell five Boeing 747 cargo aircraft.

Two foreign operators will purchase the planes: South Korean carrier Asiana Airlines (OZ) and Icelandic cargo company Air Atlanta Icelandic. The delivery of these fixed-wing aircraft is scheduled between April and October 2024.

According to CargoFacts.com, OZ will lease two other Jumbo freighters from aircraft dealer Jetran. The acquisitions make sense—OZ is about to retire its 25.8-year-old Boeing 747-400, HL7428, delivered to the airline in June 1999.

Acquisition Details

Asiana will acquire the two CI Boeing 747-400F planes for US$55 million, resulting in a loss of US$7 million compared to market values. On its part, Air Atlanta Icelandic will purchase three CI Boeing 747-400F aircraft at an estimated value of US$83 million, resulting in a loss of up to US$30 million compared to market prices.

China Airlines currently operates a fleet of approximately 10 Boeing 747-400F aircraft, all equipped with General Electric CF6 engines. In 2023, the company gave British Aircraft Maintenance Systems (AMS) an exclusive mandate to sell five Jumbo freighters manufactured between 2001 and 2003.