UPS places $5.3 billion order for 14 Boeing 747 cargo jets

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United Parcel Service (UPS) employees unload packages from the cargo of an airplane at the Regional Air Hub in Rockford, Illinois, December 9, 2014. Picture taken December 9, 2014. REUTERS/Jim Young

United Parcel Service (UPS) employees unload packages from the cargo of an airplane at the Regional Air Hub in Rockford, Illinois, December 9, 2014. Picture taken December 9, 2014. REUTERS/Jim Young (Copyright Reuters 2016)

United Parcel Service Inc said on Thursday it ordered 14 Boeing 747-8 cargo jets, a deal worth $5.3 billion at list prices that potentially breathes new life into an aircraft Boeing had warned it might cancel.

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The UPS order, which includes options for 14 more of the hump-backed planes, suggests the freight company sees an upturn in air cargo after years of anemic growth.

(Reporting by Alwyn Scott; Editing by Meredith Mazzilli)