Airwork ramps up conversions

New Zealand-based Airwork acquired a 737-400 (28702, ex-Blue Air) for conversion to freighter configuration by Aeronautical Engineers Inc. (AEI) [FAT 005310-5311]. The aircraft is slated for induction at Commercial Jet’s Miami facility next month, and is AEI’s twelfth 737-400SF conversion for Airwork.

Airwork Flight Operations, the company’s carrier affiliate last took redelivery of an AEI-converted 737-400SF in December 2019 (24813, ex-Blue Air). The carrier currently operates a twelve-unit fleet of 737Fs, comprised of nine 737-400Fs and three 737-300Fs.

Airwork’s leasing affiliate, meanwhile, manages a portfolio of seventeen aircraft leased to other carriers. Narrowbody 737s comprise the majority of Airwork’s leasing portfolio, but in recent years, Airwork Holdings has taken an interest in 757s as well.

Airwork entered the 757F market in 2018, when it leased a 757-200PCF to Russia-based Aviastar-TU. More recently, Airwork converted a 757 last year and placed it with Swiftair in July. The company also placed another 757-200PCF with Greece-based Olympus Airways in December 2019. A second aircraft has been completed by Precision Aircraft Solutions but has yet to be redelivered.

In a statement related to the 737-400 order, Airwork said its leasing company had “seven more [aircraft] in its active conversion programs.”

Airwork declined to provide any specifics related to its conversion plans.

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