DAE Capital to finance first three AirBridgeCargo 777Fs in sale-leaseback deal

[caption id="attachment_412019" align="alignright" width="530"] Beginning next year, Volga-Dnepr Group affiliate carriers will begin adding 777Fs to their respective fleets.[/caption] The leasing division of Dubai Aerospace Enterprise (DAE), DAE Capital, will purchase three 777Fs Russia-based Volga-Dnepr Group has on order with Boeing and hand them over on-lease to the group's affiliate carrier AirBridgeCargo (ABC) as part of a sale-and-leaseback agreement [ FATs 005021-005023 ]. The 777Fs are due to join the ABC fleet in 2020. Volga-Dnepr confirmed to Cargo Facts that the three freighters involved in the DAE deal are part of the order for nine recently finalized by Volga-Dnepr UK. That order stemmed from a letter of intent signed by ABC’s parent Volga- Dnepr Group, UK-based affiliate CargoLogicHolding and Boeing at the Farnborough International Airshow last year for the purchase of up to twenty-nine 777Fs . This could suggest that Volga-Dnepr had intended for some, if not all, of the 777Fs to be placed with ABC all along. Regarding the Volga-Dnepr Group's order with Boeing, the group confirmed that it intends to fulfill its current obligations under the agreement with Boeing, and added that it has additional options beyond the firm order for nine 777Fs. We wouldn’t be surprised to see more 777Fs being firmed up by the group as a whole to be placed with both ABC and UK-based CargoLogicAir. Returning to the sale-and-leaseback deal, once the aircraft are delivered to AirBridgeCargo, DAE Capital's portfolio will grow to fifteen 777Fs, including eleven in service with Emirates and one (35607, ex-Emirates) soon to be operated by Kalitta Air. Interested in how the global freighter fleet will develop over the next 20 years? The Cargo Facts Consulting 2019 Freighter Forecast is available now. Visit www.cfcinsights.com for more information. Those who purchase the Report prior to 17 June will also gain access to a live webinar with Cargo Facts Consulting Managing Director and report author, Frederic Horst.

DAE Capital to finance first three AirBridgeCargo 777Fs in sale-leaseback deal

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DAE Capital to finance first three AirBridgeCargo 777Fs in sale-leaseback deal

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BBAM inks LOI for an EFW A321P2F

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CARGO FACTS CONSULTING

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Pax freighters deliver capacity ‘lifeline’ to secondary markets

Follow Us