Boeing, Russian airfreight firm close to US$4b deal to revive B747

Chicago

BOEING Co is nearing a US$4 billion deal with Russia's largest air freight company that would help extend the life of the iconic, hump-nosed 747 jumbo jet amid waning demand for four-engine aircraft, people close to the transaction said.

The US planemaker is in advanced talks with AirBridgeCargo Airlines and its Moscow-based parent, Volga-Dnepr Group, to convert a year-old commitment into more than 10 firm orders for 747-8 freighters, two of the sources said.