Frankfurt-headquartered Aircraft Finance Germany (AFG) has placed an order for two 737-800BCF conversions, becoming the latest lessor to enter the market for freighter aircraft converted by Boeing [FATs 005527-005528].
AFG told Cargo Facts they will be converted at the (Shandong) Aircraft Engineering Company (STAECO) facility in Jinan (TNA), but declined to identify the two frames by MSN. The first is expected to be inducted this September.
AFG, which does not currently have freighters in its portfolio, said it made the decision on the 737-800BCF conversions in March or April this year, and that the decision was not influenced by the pandemic.
The lessor began looking more closely at the cargo business toward the end of 2019, creating a position dedicated to freighter leasing and trading which was taken up by Peter Koster. It joins GECAS, Spectre Air Capital, BBAM, and BlackRock’s Aviation Holdings III as lessors that have 737-800Fs on order.
Boeing redelivered the first 737-800BCF in 2018, and has redelivered thirty-four to date. With a total of 132 orders, the company has six 737-800BCF conversion lines in China, spread across the STAECO facility in TNA, the Boeing Shanghai Aviation Services (BSAS) facility in Shanghai (PVG), and most recently, the Guangzhou Aircraft Maintenance Engineering Company Ltd. (GAMECO) facility in Guangzhou (CAN).
