Latin American freighter fleet: Classics outpace NGs as Airbus presence expands

The Latin American air cargo sector thrived last year as geopolitical tension pressured global trade, increasing narrowbody and widebody lift capacity with various freighter types while expanding its regional footprint with new trade lanes to China and Europe. Latin American air cargo traffic grew by 2.3% year over year as carriers adjusted their fleet strategies amid escalating trade wars and political uncertainty driven by the new U.S. presidential administration. This shift included embracing nearshoring, cross-border e-commerce and international route expansion to the region. Cargo Facts counted 172 active freighters spread across twenty-four operators in ten countries as of Jan. 31. These ranged from the A330-300 platform down to the Saab 340A. Latin American freighter fleet distribution as of Jan. 31, 2026 Operator domicile Widebody Narrowbody Regional Total Mexico 7 52 23 82 Brazil – 28 – 28 Chile 19 – – 19 Colombia 7 10 – 17 Panama 6 9 – 15 Bahamas – – 3 3 Dominican Republic – 3 – 3 Uruguay – 2 – 2 Guatemala – – 2 2 Argentina – 1 – 1 Total 39 105 28 172 Classics continue growth The 105 narrowbodies accounted for about 60% of all freighters in Latin America. Of those, the most numerous type was the 737-400 at forty-nine units. 737 Classics — -400s in particular — continue to be overwhelmingly popular among the region’s carriers and are sought-after assets, providing a pathway to owners looking to remarket aircraft exiting service in primary markets like Europe. [caption id="attachment_57295376" align="aligncenter" width="942"] Aeronaves TSM is the largest operator of 737 Classics in Latin America. (Courtesy/Aeronaves TSM)[/caption] The forty-nine active 737-400 freighters were in service with nine operators as of Jan. 31, the largest being Mexico-based Aeronaves TSM. Aeronaves TSM has expanded its fleet significantly over the past several years thanks to an influx of 737-400s. With twenty-one units, the carrier accounted for nearly 43% of the 737-400Fs in Latin America. Panama-based UniWorld Air Cargo became the region’s newest 737-400 freighter operator in 2025, taking delivery of a 1998-vintage 737-400SF in June on lease from Petrus Aviation. Meanwhile, eleven 737-300Fs were also active in Latin America as of Jan. 31. Colombia-based AerCaribe joined the type’s operators in 2025, adding its first 737-300F and putting it into service in the second half of the year. Freighter operators in Latin America as of Jan. 31, 2026 Operator Country Freighters Aerolineas Argentinas Argentina 1 Azure Aviation Bahamas 2 Top Flight Aero-Services Bahamas 1 Azul Linhas Aéreas Brazil 2 Braspress Air Cargo Brazil 2 GOL Brazil 9 Modern Logistics Brazil 2 Sideral Linhas Aéreas Brazil 8 Total Linhas Aéreas Brazil 5 LATAM Cargo Chile 19 AerCaribe Colombia 5 Aerosucre Colombia 5 Avianca Cargo Colombia 7 Sky High Dominican Republic 3 DHL de Guatemala Guatemala 2 Aeronaves TSM Mexico 69 Avianca Cargo Mexico Mexico 2 Awesome Cargo Mexico 2 Estafeta Mexico 6 Mas Mexico 3 Copa Airlines Panama 2 DHL Aero Expreso Panama 10 UniWorld Air Cargo Panama 3 Air Class Cargo Uruguay 2 Airbus fleet doubles The number of Airbus freighters flying with Latin American carriers has almost doubled in the past two years to sixteen, consisting of fourteen A330s and two A321s. Additionally, there are now more Airbus P2F conversions than factory freighters in the region, with just six production A330-200Fs in service with Colombia-based Avianca. Avianca took delivery of its first A330-200P2F in June 2025 while also receiving a second A330-300P2F that month and assigning that aircraft to AeroUnion, which it rebranded as Avianca Cargo Mexico to reflect the close commercial cooperation between the two carriers. Brazil-based Azul put its two A321-200P2Fs to work in early 2025, enabling it to retire its two 737-400Fs. The operator is the region’s only active operator of A321 freighters. Meanwhile, Mexico-based Mas added another A330-300P2F in 2025. That aircraft, which Airbus Financial Services sold to Titan Aviation Leasing last year, is in CMI service with Galistair Malta and therefore not included in the Latin American fleet count. NGs congregate in Brazil Three Brazilian carriers operated twelve of the fifteen 737-800 freighters based in Latin America, while two 737-800Fs are now based in Panama and one remains in Argentina. [caption id="attachment_57295374" align="aligncenter" width="1250"] GOL now operates nine 737-800BCFs. (Courtesy/GOLLOG)[/caption] GOL began operating a 737-800BCF for its own logistics division in October 2025. The 2003-vintage aircraft is the ninth 737-800BCF in the carrier’s fleet, joining eight others it has dedicated to e-tailer Mercado Libre. The two other Brazil-based carriers flying 737-800 freighters are Modern Logistics with two 737-800BCFs, the second of which joined in the first quarter of 2024, and Sideral Linhas Aereas, which began operating the single 737-800SF in September that year. Apart from GOL, Copa Airlines was the only operator in the region that grew its 737NG fleet in 2025, putting its second 737-800BCF into service in September after leasing it from Icelease . Cargo Facts expects to see more 737 Classics migrating to Latin America in 2026, but limited 737NG growth, given the tight availability and high costs of -800s, and the region’s appetite for -400s. In the widebody segment, any expansion is unlikely to consist of more than a handful of units, but two carriers could join the list next year, with Venezuela-based Transcarga International Airways aiming to begin MD-10-30F flights and Chile-based Chex Air hoping to start flying an A300-600F . Cargo Facts will present four invaluable events for airfreight professionals in the first half of 2026, starting with Cargo Facts LATAM, on Feb. 10-12. To see the agendas and register for the events, visit CargoFactsEvents.com .

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