ACIA acquires IPR’s conversion and leasing business

Cebu Pacific is expecting to take another ATR 72-500 conversion from IPR Conversions. (Photo: IPR Conversions)

ACIA Aero Capital has acquired an additional 33.34% stake in IPR Conversions and IPR Leasing from IPR Invest. ACIA, which has leasing, maintenance and parts subsidiaries, had been a minority stakeholder in IPR and now becomes the sole owner of IPR’s conversion and leasing businesses covering ATR series aircraft.

Christian Degouy, former managing director of IPR Invest, resigned from his positions in both companies at the end of 2019, and will be leaving the industry.

IPR recently completed the large cargo door (LCD) and structural tube conversion of unit 467, an ATR 72-212 that had previously been destined to join Hawaiian Airlines as the carrier’s fourth ATR 72 freighter. The aircraft now appears slated to join South Africa-based Solenta Aviation, which already operates five ATR 72Fs on behalf of DHL.

Hawaiian told Cargo Facts it had arranged its maintenance schedule to allow for full operations in 2020 with its three existing ATR 72Fs. Having received its third freighter in August 2019, the carrier continues to search the market for a fourth aircraft to add to the fleet.

Philippines-based Cebu Pacific, which took redelivery of it first IPR-converted ATR 72-500F (820) in July 2019, has another aircraft (828) undergoing conversion by IPR at the Sabena Technics facility in Dinard (DNR).

IPR acquired the LCD and structural tube conversion from Alenia Aermacchi in 2015 and remains the sole holder of an LCD STC for both ATR 42s and ATR 72s. The addition of a large cargo door enables the loading of containers as well as larger items. Other conversions only allow ATR freighters to carry cargo in bulk.

Apart from ATR freighter conversions, ACIA focuses on regional aircraft, including ATRs, Embraer jets and Beechcraft 1900s.

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