DAE cancels last five orders for 747-8Fs

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Boeing has lost Dubai Aerospace Enterprise (DAE) as a customer for the 747-8 Freighter, completing an 18-month unwinding of the lessor's original for 15 of the type.

The cancellation of the last five 747-8Fs from the original order appeared today on Boeing's orders and deliveries web site. DAE's individual listing in Boeing's database also showed that the remaining 747-8Fs had been subtracted from the lessor's orderbook.

DAE now becomes the second aircraft leasing company to back out of the dwindling 747-8F customer pool. Guggenheim Aviation Partners cancelled an order for four 747-8Fs in January 2011.

GECAS, which is affiliated with 747-8 engine supplier GE Aviation, is now the only leasing company with orders for the widebody freighter.

DAE backed out of its order for 15 747-8Fs in a series of three cancellations, including five last December and five more the previous November.

Meanwhile, Boeing is slowing production of the 747-8 series by 12.5% to 1.75 per month in the third quarter due to declining demand.

The first 747-8F entered service in 2011 but was hobbled by excess weight and an inoperative fuel tank in the horizontal stabiliser. Boeing rolled out an improved version of the aircraft last November weighing 2.5t less.