Taiwanese carrier China Airlines has disclosed an agreement to sell five Boeing 747 freighters to two operators.

The carrier states that it is divesting three 747-400Fs to Air Atlanta Icelandic, valuing the transaction at $83 million.

But it estimates a loss of up to $30 million from the disposal.

China Airlines is also selling a pair of 747-400Fs to Korean carrier Asiana Airlines.

It says the agreement is worth up to $55 million but adds that it similarly expects a loss from the deal amounting to $7 million.

The carrier states that it will separately disclose more details once the actual conditions of the transactions are determined.

China Airlines 747-400F-c-AMS Aircraft Services

Source: AMS Aircraft Services

China Airlines mandated the UK’s AMS to sell five of its 747 freighters

China Airlines has around 10 747-400Fs all powered by General Electric CF6 engines. It has not identified the specific airframes involved in the sales.

The carrier had given UK-based AMS Aircraft Services an exclusive mandate last year to sell five 747-400Fs, all manufactured between 2001 and 2003.

AMS had added that they were available for delivery from April-October this year.

Asiana Airlines has a freighter division although the carrier has been informed that it must divest the cargo operation as part of the conditions to secure its merger with Korean Air.