Crestone begins freighter leasing with 737-400SFs

Denver-based Crestone Air Partners, a subsidiary of Air T Inc., has entered the freighter leasing market with its acquisition of two 737-400 freighters [ FATs 008347-8352 ]. The lessor, which recently purchased two 737-400SFs — a 1994-vintage 737-400 (25109) and a 1996-vintage aircraft (28490) — currently on lease to ASL Aviation Holdings, believes the 737 Classic is still a competitive airplane, Crestone told Cargo Facts . [caption id="attachment_56861008" align="alignright" width="450"] Unit 25109 is operated by ASL for FedEx. (Photo/v1 Aviation Media)[/caption] Crestone, which was recently founded by Air T in July, plans to take a methodical approach to building its portfolio one aircraft at a time, and is carefully monitoring market trends of each freighter type in the narrowbody sector, it told Cargo Facts . The new leasing company will focus on trading, leasing and managing assets in the aviation sector and to service the company’s aircraft asset management joint venture, according to a statement from Crestone. Air T owns several subsidiaries in addition to Crestone, including FedEx feeder operators Mountain Air Cargo (MAC) and CSA Air (CSA) along with Blue Clay Capital Management, an investment manager. Crestone is not the only lessor interested in 737 Classic freighters. Other operators and lessors believe there is still plenty of value left in them, including such as Aventus Air Leasing , Kalitta Charters II , Africa Charter Airlines and Estafeta who have recently added 737 Classic freighters to their fleet. 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.

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