Companies AIR FREIGHT Boeing considers converting aircraft BL PREMIUM

London/Chicago — Boeing is considering whether to convert used 777 passenger aircraft into freighters, seeking to capitalise as booming e-commerce sales spur new demand for air freight worldwide, people familiar with the matter say. While Boeing has studied retrofitting the used wide-bodies for more than a decade, the effort has taken on new life in recent months as air cargo emerged from its recession-era slump, said the people, who asked not to be identified as the matter is confidential. The new product would also fuel sales at a new global services division as Boeing works to more than triple the unit’s $15bn in annual revenue over the next 10 years. Offering revamped versions of the 777-200ERs would expand Boeing’s catalogue of freighters but risk cannibalising sales of factory-fresh aircraft. Demand for conversions is growing as online shopping surges and package couriers seek lower-cost alternatives to buying new planes. Air freight is expected to rise 4.5% in 2018, after gai...