Boeing delivery for UPS

has confirmed that

(UPS), the global package delivery company, has placed an order for eight 747-400 Freighters worth an estimated $1.9 billion

The firm order is the first UPS order placed directly with Boeing for the 747 Freighter family and the carrier's first for 747-400 Freighters.

The first delivery is scheduled for June 2007 with two additional deliveries that year, followed by the remaining five deliveries in 2008. UPS has selected General Electric CF6-80C2-B1F engines to power the new airplanes.

“The purchase of these Boeing 747-400 freighters is a part of UPS's ongoing effort to accommodate strong international volume growth and will allow UPS to continue to increase capacity on our most important international routes,” said Bob Lekites, UPS vice president of Airline and International Operations.

In its most recent World Air Cargo Forecast, released in September 2004, Boeing forecasts international air cargo growth to average 6.2 percent over the next 20 years, with Asia-related routes exceeding that average. Intra-Asia markets will expand by 8.5 percent, North America-Asia will increase 7.2 percent and Europe-Asia will average 6.7 percent growth.