Market Presence. The net effect of changing market structure is to see a large number of B747-400F freighters remaining in storage some of which have already been parked for a long time. Out of a fleet of approximately 230 B747-400F and B747-400 converted freighters, there are around 28 in storage, representing nearly 10 percent of the fleet. Some of those that are listed as still being in service are underutilized and therefore are in service in name only. This represents a clear excess for the -400 freighters and is having a significant effect on values. The problem for the -400 freighter lies with its age profile. With each passing year of mediocre demand and storage there is greater likelihood that the aircraft will never return to service because the younger aircraft in better condition will be more sought after. To date there have been few -400 freighters physically scrapped but perhaps for those in lesser condition, long term storage can easily turn into retirement and eventually parting out.
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