Freight Courier SF Express buys two Boeing 747-400F via online auction

  • Taobao

According to an article published by the South China Morning Post, China’s leading private courier SF Express has acquired two Boeing 747-400F aircraft via an online auction on Alibaba’s e-shopping platform Taobao, for a price of 322.8 million yuan, which is equal to approximately 49 million US-dollars. 

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This was, according to the Chinese newspaper, the first jet ever sold in an online auction. The successful deal took place after six failed attempts at offline private auctions held by the seller, namely a state court. The two 747-400 freighters were seized by the Intermediate People’s Court in Shenzhen, after the previous operator of the aircraft, Jade Cargo International, filed for bankruptcy in 2013.

As of now, the two freighters are stored at Shanghai Pudong Airport. The starting price for the two Boeing 747-400F offered was at 133.8 million yuan and 135 million yuan. Before this successful auction, there have been other attempts of auctions for jets that have failed. Florida-based Concord Aerospace, for instance, tried to sell a Boeing 747 on eBay. The aircraft, however, lacked of engines and all electrical components has been removed in advance.

SF Express with its subsidiary SF Airlines is China’s second largest cargo carrier after China Post. The airline operates an all-Boeing fleet with over 40 aircraft including Boeing 757 and Boeing 767 aircraft. Taobao is an online e-shopping platform with an auction model similar to eBay. The shop is owned by Alibaba, namely the world’s largest retailer.

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