757-200F outlook remains strong as feedstock wanes

Florida-based AerSale is optimistic about long-term demand for 757-200 feedstock and will continue to invest in the freighter type amid waning quality supply. After recently exercising an option with Precision Aircraft Solutions for four 757-200PCFs plus ordering two more, AerSale now has a conversion order totaling twelve aircraft and expects the freshly converted freighters to remain in service for at least another twenty years, the company told Cargo Facts . [caption id="attachment_56860844" align="alignright" width="450"] AerSale expects the 757-200F to operate as a dedicated freighter for years to come. (Photo/AerSale)[/caption] AerSale added it is prepared to support its recent conversions despite the limited availability of good feedstock, as passenger carriers maximize the remaining useful life of airframes and the conversion demand is exclusively for 757-200s powered by Rolls-Royce RB211 engines. Limited supply AerSale estimates the number of qualified conversion candidates is lower than fifty but said the availability of feedstock is not the primary concern — it’s the status of the 757-200PCF conversion program. “In fact the retiring fleet will instead provide material and spares support to the installed fleet for years to come,” President of Aircraft and Engine Management Craig Wright told Cargo Facts . “Today we have just over twenty RB211 engines in our portfolio, and most of these are committed to supporting our conversion program through 2023.” Wright added that AerSale is continuing to see a “steady but limited” number of RB211 engine acquisition opportunities. “However, they also tend to be in a condition requiring significant investment and time to return to service,” he said. AerSale showed its commitment to the 757 freighter program in September 2020 when it decided to acquire a tranche of twenty-four 757-200s for conversion and part-out, while remaining upbeat about demand for the freighter type before topping up its conversion order with six more aircraft in January 2022. The company has had no problems securing homes for those 757s, selling them either pre- or post-conversion to Cargojet, China-based YTO Cargo Airlines and fellow Chinese carrier SF Airlines. AerSale previously also leased three to Amerijet that were subsequently purchased by Titan Aircraft Investments , which continues to lease them to the Miami-based carrier. 757Fs and A321Fs: Two different roles Meanwhile, as the A321F conversion programs — touted as viable replacements for the 757-200F — continue to gain market share, multiple lessors and operators such as AerCap , Global Crossing , SmartLynx , Qantas and ATSG have already signed up. When weighing the similarities and differences between the A321 and 757 freighter types, “the operating characteristics of each platform suggest application to significantly different missions and markets for each,” Wright said. “We are not speculating whether containerized belly cargo will gain widespread practice for A321 operators, but the bulk-loading capability will work equally for both types. Where range is not necessary and overlap of the types is possible, the A321 has the advantage of lower engine maintenance cost, but the 757 has a lower conversion cost.” Looking beyond the 757, AerSale said it is open to evaluating all other aircraft types for conversion and intends to “participate across the full spectrum of aftermarket commercial cargo aircraft,” including aircraft and engine leasing as well as aftermarket material sales. Cargo Facts EMEA, the essential event for stakeholders in Europe, the Middle East and Africa, will take place live Feb. 6-8 in Dubai. Register today to take advantage of early-bird pricing.

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