While the Boeing 747-400 was a massive hit with the aviation industry, its younger sister, the 747-8, didn’t do so well. Just three airlines operate passenger versions of the latest jumbo jet iteration. With this in mind, exactly how much is a Boeing 747-8 worth in 2021?
While the aviation industry has suffered significantly due to the current global situation, one type of aircraft has taken a bigger hit than others. Due mainly to the bad economics of four engines, the quadjet hasn’t fared well. Over the past weeks, we’ve been diving into the 2021 value of several of these aircraft, including the older Boeing 747-400.
37 Boeing 747-8s built
To answer how much a Boeing 747-8 is worth in 2021, Simple Flying turned to data from ch-aviation.com, which calculates the value of most aircraft with the help of Collateral Verifications LLC. According to the data, 37 Boeing 747-8 aircraft have been built with passengers in mind.
36 of these aircraft went to airlines. Lufthansa took 19, Korean Air took ten, and Air China took seven. The remaining aircraft, N828BA, was not taken up by Lufthansa, although Boeing recently found an unidentified buyer for the jet. Given that just one of these 37 jets is over ten years old, the global fleet remains relatively young.
So how much is it worth?
It’s time to answer the big question. How much is the Queen of the Skies worth in 2021? According to Boeing, the current list price of a passenger 747-8 would be $418.4 million. With that said, the manufacturer no longer sells the passenger variant, with the production of the freight variant wrapping up soon.
According to ch-aviation.com‘s data, three 747-8 aircraft share the position of most valuable jet. HL7644, HL7643, and HL7642 are all listed with a current market value of $82.27 million. This represents a fall in value of 80% from the list price. HL7644 is the youngest of these, with an age of 3.96 years. The jet took its first flight on June 23rd, 2017, before being delivered on July 31st that year. As of February 28th, the plane has clocked up 11,829 hours over 1,344 flight cycles.
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In the case of the Boeing 747-8, value is closely tied to aircraft age, as the four least valuable aircraft are also the four oldest. D-ABYA was the first 747-8 to be delivered, with Lufthansa acting as the lucky customer. At 9.33 years old, the aircraft has so far racked up 36,280 hours of flying, spread across 4,157 cycles. According to ch-aviation.com’s data, its current market value is $67 million. Last week the airline returned the aircraft to service after six months on the ground.
With the exclusion of N838BA and an Air China 747-8 (B-2479, operated on behalf of the government) with no listed value, the average age of a 747-8 comes in at 6.7 years. The corresponding average value is $73.27 million.
How much is a Boeing 747-8 worth to you? Let us know what you think and why in the comments!