Last month, Air Transport Services Group the world’s largest lessor of freighter aircraft, added two newly converted Boeing 767-300 freighters to their leasing fleet.
One of the aircraft becomes the company’s first Boeing Converted Freighter (BCF). The second aircraft was converted by Tel Aviv-based Israel Aerospace Industries.
Lease to Amerijet
ATSG’s leasing subsidiary, Cargo Aircraft Management, will lease both aircraft to Miami-based Amerijet International, which currently leases nine other aircraft from CAM.
At the beginning of March, Amerijet inducted six additional Boeing 757-200 Freighters into its fleet, as part of its fleet modernisation programme.
This latest dual delivery is a demonstration of ATSG’s successful supply chain diversification in meeting market demand for full freighter conversions.
“Today we acknowledge an important milestone in the history of our company,” said Paul Chase, chief commercial officer of ATSG, “a milestone that signifies not only our ability to execute on a clear corporate vision, but also demonstrates yet another step we’ve taken to establish ourselves as the global leader in freighter leasing.”
The leadership teams of ATSG and Amerijet addressed employees of ATSG subsidiaries, thanking them for their accomplishments and referencing the companies’ shared histories.
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“The strategic program we are celebrating today is not just a plan for the future,” continued Chase, “but a roadmap to our continued success.”
“It reflects our commitment to our customers, our employees, and our shareholders. It is a testament to our ability to adapt, innovate, and lead in a rapidly changing world.”
The freighter conversion market
Passenger to Freighter (P2F) aircraft conversions involve the transformation of passenger aircraft into cargo planes. This process typically involves removing seats and other passenger-related components, strengthening the floor, and installing cargo doors and loading systems.
The P2F market has grown significantly in recent years due to the increasing demand for air cargo transportation, particularly driven by e-commerce.
According to a report by the International Air Transport Association (IATA), global air freight demand increased by 9% in 2020, despite the impact of the COVID-19 pandemic on the aviation industry.
P2F conversions offer several advantages to cargo airlines, including lower capital costs compared to purchasing new cargo aircraft, shorter lead times for delivery, and the ability to convert existing fleets to meet the evolving needs of the cargo market.
The market for P2F conversions is dominated by several major players, including Boeing, Airbus, and Israel Aerospace Industries (IAI).
In recent years, there has been a shift towards converting larger aircraft, such as the Boeing 767 and Airbus A330, which offer greater cargo capacity and fuel efficiency compared to smaller aircraft.
The P2F market is expected to continue growing in the coming years, driven by the increasing demand for air cargo transportation and the need for more efficient and cost-effective cargo aircraft solutions.
About Air Transport Services Group
ATSG is a leading provider of aircraft leasing and cargo and passenger air transportation and related services to domestic and foreign air carriers and other companies that outsource their cargo and passenger air lift requirements.
ATSG, through its leasing and airline subsidiaries, is the world’s largest lessor of freighter aircraft as well as the largest owner and operator of converted Boeing 767 freighters.
Through its principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier certificates, ATSG provides aircraft leasing, air cargo lift, passenger ACMI and charter services, aircraft maintenance services and airport ground services.
ATSG’s subsidiaries include ABX Air, Inc.; Airborne Global Solutions, Inc.; Airborne Maintenance and Engineering Services, Inc., including its subsidiary, Pemco World Air Services, Inc.; Air Transport International, Inc.; Cargo Aircraft Management, Inc.; and Omni Air International, LLC
