Cargojet adds more 757-200Fs to free up 767s

Canada-based Cargojet has signed a letter of intent for the purchase of three converted 757-200Fs that it will add to the fleet next year, the company said Monday during its third-quarter earnings call [FATs 006711-6713]. The narrowbody trio is in addition to a fourth 757-200 currently in conversion. The 757Fs will replace 767 freighters currently operating domestically within Canada. [caption id="attachment_416904" align="alignright" width="560"] Cargojet added a 757-200PCF earlier this year. (Photo/Cargojet)[/caption] “We are expecting first quarter ’ 22 for the first plane and then [one] every quarter for [the other two],” President and Chief Executive Officer Ajay Virmani told analysts. “The idea of these 757s is that they would be put mostly in the domestic network to free up the 767 for ACMI and other charters and international flying,” he added. AerSale, which sold a 757-200PCF (29594, ex-American Airlines) to Cargojet earlier this year, told Cargo Facts that it was not involved in the carrier’s additional 757 plans. Cargojet also recently purchased a 757-200 (22690, ex-Mexican Air Force) for conversion; that aircraft will not be ready for service until at least the first quarter of 2023, according to the airline. In parallel, the airline’s 767F fleet will continue to grow with a 767-300BDSF redelivery expected this quarter, two more in 2022, and another in 2023, according to the airline’s earnings release. Without going into specific details, Virmani said Cargojet is in discussions with at least two customers to use the 767s in international service. Cargojet plans to eventually increase its collaboration with 21 Air, a U.S.-based airline that Cargojet took a stake in earlier this year, but not immediately. “They have four aircraft now operating. And to be honest with you, their hands are full with their own customers,” Virmani said. “In the future they plan to grow their business — we can certainly pass on some of the business.” Looking forward, Virmani predicts that full passenger capacity on the international route is a couple of years away, but he sees it as a growth opportunity for Cargojet. “This will keep the belly curve capacity constrained for the next few years. This means the international cargo markets will remain tight and will continue to present opportunity for Cargojet,” Virmani said. “This will also result in shipping patterns and shipping expectations to be different than what they are currently as people get used to the better level of service with cargo aircraft rather than belly cargo capacities.”

Cargojet adds more 757-200Fs to free up 767s

Incoming narrowbodies to replace 767s in domestic service

CFS: eVTOLs to provide sustainable cargo opportunities

CFS: More e-tailers pursue own-controlled air as a competitive advantage

CFS: More e-tailers pursue own-controlled air as a competitive advantage

Cargo Facts Free Newsletters

Cargo Facts Connect Podcast

Follow Us

Welcome Back!

Retrieve your password