Two 747-400Fs fetch $49m at Alibaba’s Taobao online auction

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E-commerce and air cargo became even more intricately linked today when SF Express successfully bid for two 747 freighters on Taobao, the online shopping platform. There is still one up for grabs, with a starting price of Rmb122.6m ($18.5m). The three freighters remained unsold since Jade Cargo International closed its doors in 2013.

SF Express paid Rmb160.8m for one and Rmb162m for the other in an auction with two participants. Bidders had to put down security deposits of nearly $1m, and the winner ...