ATSG signs up for more A330P2F slots on high demand

Air Transport Services Group (ATSG) and its leasing arm Cargo Aircraft Management (CAM) have secured nine more A330P2F conversion slots with Elbe Flugzeugwerke (EFW) as the platform continues to generate interest [FATs 007289-7297]. These add to the twenty slots that ATSG committed to in 2021 . [caption id="attachment_417598" align="alignright" width="560"] ATSG is currently EFW’s largest A330P2F customer. (Photo/EFW)[/caption] ATSG told Cargo Facts that it expects five of the nine new conversions to take place at EFW’s facility in Dresden (DRS), with the other four at the Shanghai Technologies Aerospace Company Limited (STARCO) in Shanghai. All nine inductions are currently scheduled to take place in 2026. ATSG’s initial twenty conversions are not due to begin until mid-2023 — with sixteen at DRS and four in Shanghai — but the company told Cargo Facts that it has already received LOIs and deposits for fourteen of those A330P2Fs from four different customers in Europe and Asia. All fourteen are -300s. ATSG said it is currently in final discussions to acquire its first tranche of five A330-300s and is “very comfortable” with the acquisition costs. The company previously told Cargo Facts that it is looking at feedstock candidates between twelve and twenty years old. At the same time, ATSG still holds more than thirty 767 conversion slots with both Israel Aerospace Industries (IAI) and Boeing. ATSG told Cargo Facts it currently has sufficient feedstock to meet all its 2022 lease deliveries and at least half of those scheduled for 2023. The first of at least four inductions with Boeing is set to occur around October 2022, ATSG said. Additionally, CAM expects to induct its first A321-200 for conversion with 321 Precision Conversions in the next few weeks, with redelivery by yearend. The freighter is already under commitment. ATSG reported $1.73 billion in revenue in 2021, an increase of 10% on the previous year. Of these financial gains, $482.4 million occurred in the fourth quarter, up 21% from the year before. In a statement, the company said that it had set a new record with fifteen additional leases of 767-300 freighters and renewed contracts for three 767-200Fs. ATSG had a fleet of nighty-eight 767Fs at the end of 2021. Earlier in February, ATSG announced it would operate two more 767-300Fs on a CMI basis for DHL Express as part of an expanded agreement with the integrator . Cargo Facts EMEA will take place LIVE May 9-11 in Dubai. Learn more and register.

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