BOEING's new freighter, the 747-8F, has been hit by a spate of order conversions to smaller aircraft, owing essentially to bad timing given that two years of delays has translated into the freighter debuting during a global air cargo market downturn.

    Dubai Aerospace Enterprise has become the latest customer to covert five of its 15 orders for the 747-8F to orders for the smaller Boeing 777, according to Boeing's orders and deliveries website, reports TheStreet.

    The aircraft will be operated by Emirates, which it said is already the world's largest 777 operator. "This conversion allows the airline to maximise synergies with its current fleet," said Boeing.

    The report said that now DAE has 20 unfilled orders for 10 Boeing 747-8Fs and 10 777s.

    A report from Reuters said Cathay Pacific almost changed an order recently for ten 747-8 freighters, but the US aircraft manufacturer persuaded the carrier to keep to the order with concessions on orders for eight 777 freighters.

    Atlas Air (AAWW) last month exercised its right to terminate delivery of three "early build" 747-8s because of lengthy delays and performance considerations. But Atlas is still receiving nine aircraft by 2012.

    Furthermore, Korean Air Lines had a delivery scheduled for August postponed until the second quarter of 2012, an industry source said, the report added.

(Source:http://www.shippingonline.cn/news/newsList.asp?classname=News)