8 freighter market executives to watch in 2025

In many ways, 2024 has been a continuation of 2023 for players in the freighter aircraft segment, with soft — but improving — market conditions, slower conversion activity, and tight feedstock and engine supply because of OEM issues in the passenger market.

Against that backdrop, Cargo Facts highlights eight executives to watch in the year ahead. These leaders are among those who have not only stood up to challenges but overcome them with demonstrable results.

This year’s selections include chief executives of three companies forging the path in the advanced air mobility space as they continue to achieve clear progress with their respective products.

Matt George, founder and CEO, Merlin Labs

Merlin Labs reached two milestones this year when it installed the final version of its automated Merlin Pilot software in January on its Cessna 208B prototype (208B1023) and began certification test flights in June.

Under the guidance of founder and Chief Executive Matt George, Boston-based Merlin became the first autonomous flight developer to enter this phase of the certification process.

The company told Cargo Facts in April that it was collaborating with the Massachusetts Institute of Technology Lincoln Laboratory to incorporate the Airborne Collision Avoidance System Xu (ACAS Xu) into Merlin Pilot.

The company obtained Part 135 approval from New Zealand in the first quarter to further its research and development of Merlin Pilot in controlled airspace.

Sascha Hardegger, CEO, Dufour Aerospace

Sascha Hardegger, named CEO of Dufour Aerospace in August, played a key role in development of the Aero 2 hybrid-electric VTOL cargo drone prototype to the final production variant Aero 2 X2.3.

The Switzerland-based Dufour will use the data and analysis completed on the Aero 2 to relaunch the Aero 3 advanced air mobility platform, Hardegger told Cargo Facts in 2023. Aero 3 is based on the tilt-wing rotor design of the Aero 2 and can carry 2.8 tonnes of cargo.

Previously, Hardegger was Dufour’s chief commercial officer.

Marc Iarchy, principal and partner, World Star Aviation

World Star Aviation has solidified its presence in the narrowbody lease segment over the past couple of years, diversifying its portfolio with 737NG and Classic freighters.

As principal and partner of World Star, Marc Iarchy managed deals to lease 737-800 freighters to operators like Slovakia-based AirExplore and Georgia-based Camex Airlines, along with multiple 737-400Fs to Brazil-based Total Linhas Aereas and Braspress Air Cargo.

The United Kingdom-based lessor became the first to place a next-generation narrowbody freighter on lease with a Ukrainian carrier when it recently delivered a 2007-vintage 737-800BDSF (34970, ex-Royal Flight) to Supernova Airlines.

In addition to growing its portfolio with Boeing narrowbody freighters, World Star acquired its first A321-200 for conversion with EFW in 2022 and told Cargo Facts this year that it is also evaluating the E190F conversion program.

Lars Jordahn, global head, Maersk Air Cargo

Lars Jordahn became head of Danish shipping group Maersk’s air cargo division in March, as the carrier was preparing for its next phase of growth after rebranding from Star Air. Prior to that he served as CEO of West Atlantic.

Maersk Air Cargo, which already had a sizeable widebody fleet of twenty 767s, received the first of two new 777Fs from Boeing in July.

It is also setting up a British AOC and intends to move some 767s to that certificate.

How Jordahn applies his freighter experience to one of the top shipping companies will be interesting to watch.

Mamur Mamadaliev, deputy CEO and CCO, My Freighter

Since entering the freighter market two years ago, Uzbekistan-based My Freighter has been one of the fastest-growing carriers, taking on medium widebodies to operate on routes to Asia, Europe and the Middle East.

My Freighter has to date leased five 767-300Fs from CAM, with Deputy CEO and CCO Mamur Mamadaliev telling Cargo Facts that the young airline intends to continue its widebody expansion.

Mamadaliev has played a central role in propelling My Freighter to become Uzbekistan’s largest freighter operator and is paving the way for other startups in the country.

Peter Scholten, CCO, Air One Aviation

Air One Aviation and its affiliate airlines — Aerotranscargo, One Air and ROM Cargo Airlines — have expanded 747 operations in the past few years, and CCO Peter Scholten now manages a fleet of two production 747-400Fs, three -400BCFs and five -400BDSFs.

Three of those freighters are on lease from Aerotranscargo to One Air, which received its British AOC in 2023 and put its third aircraft into service this month.

Cargo Facts believes 2025 will bring additional growth for Air One and its affiliates.

Martin Stulajter, chief executive, AirExplore

AirExplore founder and Chief Executive Martin Stulajter steered the Slovakia-based carrier through one of its biggest growth spurts during its teenage years.

He diversified the airline’s all-passenger business model during the pandemic when it began operating its first 737-800BCF in August 2022.

AirExplore entered negotiations that year with Ireland-based Avia Solutions Group and was acquired by the group in June 2023.

AirExplore’s narrowbody freighter fleet includes eight 737-800BCFs and -800SFs — many of which it took on after BBN Airlines Nordic ceased operations in May — making it the largest operator of the type within the group.

Svilen Rangelov, co-founder and CEO, Dronamics 

Dronamics has consistently been at the forefront of the drone delivery market, becoming the first cargo drone airline to be assigned designator codes by IATA and ICAO in July 2023.

Under the leadership of co-founder and Chief Executive Svilen Rangelov, the Sofia, Bulgaria-based dronemaker changed its business model in April 2021 to operate as an airline and began testing its dronehub prototype at Sofia International Airport (SOF) before unveiling its Black Swan drone that year.

Dronamics in 2023 formed a joint venture with Strategic Development Fund, the investment arm of the UAE’s Tawazun Council, to develop a facility and begin full-scale production of its Black Swan drone in the country starting next year.

In November 2023, Dronamics became the first cargo drone operator to interline with  a conventional air cargo carrier in a deal with Qatar Airways. Dronamics has also formed partnerships with Aramex, Emirates Post Group and Hellenic Post.

More recently, the European Innovation Council announced in March that it would invest $10.8 million into Dronamics to aid the completion of the Black Swan test flight program and commercial drone operations.

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