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

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.

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)