UPS Sticks with A380s, but Contract Terms Changed

UPS Inc., the world's largest shipping carrier, said Friday it has signed an agreement with Airbus over the company's order of new A380 super-jumbo jets.

The agreement made by the Atlanta-based company specifies changed delivery dates for the new freighter jets and allows either party to terminate the original purchase agreement later in 2007.

UPS ordered its first 10 A380F jets in January 2005. Deliveries were originally to begin in 2009 and run through 2012. The shipping company said it wanted the jets to expand the capacity of its air network to accommodate strong international growth.

UPS has been "carefully evaluating various options since Airbus announced production delays late last year," Bob Lekites, UPS vice president of airline and international operations, said in a statement.

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