Acquisitions start strong for second year in a row

Acquisitions set the pace in the first quarter of 2024 for a second year in a row, accounting for fifty-three of the 191 freighter aircraft transactions reported by Cargo Facts. Acquisitions were nearly double the conversions and redeliveries, which stood at twenty-nine and twenty-eight transactions, respectively. Together, acquisitions, conversions and redeliveries accounted for nearly 60% of the freighter aircraft transactions (FATs) in the first quarter. March yielded the most monthly transactions in Q1 with eighty-five. February was second with sixty-two and January started 2024 off with forty-four FATs. Narrowbody freighters saw the most activity over the quarter, with ninety-nine transactions, while the widebody segment saw eighty-one FATs. Regional freighter activity was minimal in comparison, with eleven FATs, led by four transactions each involving the ATR 72-600F and Cessna SkyCourier. The 737-800 remains the most sought-after aircraft, leading all conversion feedstock purchases with eleven. Meanwhile, the 747-400F saw a surge in demand, with nine production freighter aircraft purchased, and the A321-200 trailed by two aircraft, with seven. The 777-200LR gained traction with six aircraft sold as Mammoth Freighters’ 777-200LRMF enters the final phase of approval. Q1 conversions increased each month to nearly thirty transactions, including twelve 737-800BCFs, six A321-200PCFs, five A321-200P2Fs and four A330-300P2Fs. Of note, AviaAM Leasing inducted it 777-300ER for conversion with Mammoth, marking the arrival of the 777 freighter conversion programs. As for redeliveries, the 737-800BCF led all aircraft with eleven FATs. The 767-300BCF followed with four and the A321-200P2F was right behind with three. The 767-300BDSF, A330-300P2F, 737-800BDSF and -800SF were tied with two transactions each. A weaker quarter 2024’s first-quarter FATs showed signs of growth but also revealed a significant drop when compared with the 230 transactions in Q1 2023 as the market adjusts to supply chain constraints, geopolitical events, and decreasing air cargo rates and demand. Redeliveries fell by fifteen aircraft year over year but 737Fs continued to lead the charge with A321 freighters closing the gap. A limited supply of 767-300ER conversion feedstock has contributed to the decline of medium-widebody freighter redeliveries, which saw the 767-300BCF and -300BDSF drop by three and five transactions, respectively. Freighter conversions decreased by more than 27% YoY. Only two 767-300ERs were inducted for conversion in Q1, down from nine for the same period in 2023. The lack of 757-200 inductions may have also contributed to the decline in transactions; Precision Aircraft Solutions told Cargo Facts in October 2023 that the narrowbody freighter program may end this year. Conversion orders dropped by more than 50% YoY to ten from twenty-three. China Postal Airlines led with five 737-800BCF conversion orders placed with Boeing. Meanwhile, lease orders dropped to seventeen in Q1 compared with twenty-five in Q1 2023. The 767-300BDSF led the category with four, while the 747-400F, A330-300P2F, A321-200P2F, 737-800BCF, -800SF and -400F each accounted for two transactions. Below is a list of FATs recorded in March 2024 . Each transaction contains a unique FAT code linked to our FAT Database . AirBridgeCargo returned two 747-8Fs (60117 and 60119) off lease to BOC Aviation [FATs 9533 and 9551]. Boeing acquired a 747-8F (63199) from Qatar Airways [FAT 9537]. SF Airlines acquired two 747-400Fs (35207 and 35208) from China Cargo Airlines [FATs 9492-9493]. SF Airlines also returned a 747-400F (32803) off lease to Air Central [FAT 9494]. Asiana Airlines placed a lease order for two 747-400Fs with Spectre Air Capital [FATs 9495-9496]. Asiana Airlines also acquired two 747-400Fs (30765 and 30768) from China Airlines [FATs 9497-9498]. Air Atlanta Icelandic acquired three 747-400Fs (33729, 33731 and 33732) from China Airlines [FATs 9499-9501]. AviaAM Leasing inducted for conversion a 777-300ER (35300, ex-Azur Air). The aircraft will be converted with Mammoth Freighters in Fort Worth, Texas (AFW) [FATs 9516-9517]. Silk Way West placed an order for one 777F with Boeing [FAT 9506]. Jetran acquired four 777-200LRs (32222, 29742, 40559 and 40560, ex-Delta Air Lines) from Cargojet [FATs 9483-9486]. ULS Airlines Cargo placed a lease order for two A330-300P2Fs (349 and 356) with CAM [FATs 9504-9505]. Amazon took delivery of an A330-300P2F (1863) on lease from Altavair and placed it with Hawaiian Airlines for CMI operation [FATs 9538-9540]. Japan Airlines took redelivery of a 767-300BCF (40366) after conversion with Boeing in Singapore (QPG) [FAT 9544]. DHL took delivery of a 767-300BDSF (40565, ex-ANA) from CAM and placed it with 21 Air for CMI operation [FATs 9635-9636 and 9547]. My Freighter took delivery of a 767-300BCF (25170, ex-Condor) on lease from CAM [FATs 9552-9553]. Air China Cargo inducted for conversion an A330-200 (873, ex-Air China). The aircraft will be converted with EFW in Chengdu (CTU) [FAT 9534]. Jetran acquired three 767-200BDSFs (23017, 23018 and 23140) from DHL [FATs 9469-9478]. Yamato Transport took delivery of an A321-200P2F (4406) on lease from Fuyo General Lease [FAT 9482]. Sichuan Aviation Industry Development inducted for conversion three A321-200s (2974, 3013 and 3005, all ex-Vietnam Airlines). The aircraft will be converted with 321 Precision Conversions at CTU [FATs 9521-9526]. Spectre Air Capital inducted for conversion an A321-200 (2553, ex-Aegean Airlines). The aircraft will be converted with 321 Precision Conversions in Xiamen (XMN) [FATs 9541-9543]. Qantas acquired an A321-200P2F (1695, ex-British Airways) from JLPS Ireland after conversion in Guangzhou (CAN) [FATs 9548-9550]. ASL Aviation Holdings took redelivery of two 737-800BCFs (28612, ex-Comair, and 34701, ex-Air China) after conversion with Boeing in Jinan (TNA) [FATs 9479-9481 and 9487]. DHL placed a 737-800BDSF (29931, ex-Garuda Indonesia) with Kalitta Charters II for CMI operation [FAT 9488]. Mesa Airlines returned a 737-800BDSF (28326, ex-SAS) off CMI to DHL [FAT 9491]. Tianjin Air Cargo inducted for conversion a 737-800 (34707, ex-Hainan Airlines). The aircraft will be converted with AEI in Haikou (HAK) [FATs 9502-9503]. BBAM took redelivery of a 737-800BCF (34406, ex-Flybondi) and placed it on lease with Air Master [FATs 9507-9510]. Aero Capital Solutions took redelivery of a 737-800SF (34408, ex-Comair) and placed it on lease with Air Master [FATs 9511-9515]. Icelease took redelivery of a 737-800BCF (29660, ex-TUI fly Belgium) after conversion with Boeing in Shanghai (PVG) [FATs 9518-9520]. Texel Air Australasia began operating two 737-800BCFs (33013, ex-Comair, and 33798, ex-Virgin Australia) on an ACMI basis for Team Global Express [FATs 9528-9529]. BBAM inducted for conversion a 737-800 (29644, ex-Go2Sky). The aircraft will be converted with Boeing in Kelowna (YLW) [FATs 9530-9531]. Chisholm Enterprises placed a lease order for a 737-800BCF (29644, ex-Go2Sky) with BBAM [FAT 9532]. China Postal Airlines took redelivery of a 737-800BCF (35051, ex-Xiamen Airlines) after conversion with Boeing at TNA [FATs 9554-9557]. Mesa Airlines returned two 737-400SFs (27674, and 27157, both ex-Southern Air) off CMI to DHL [FATs 9489-9490]. FedEx took delivery of two C408s (408-0026 and 408-0027) from Textron Aviation [FATs 9545-9546]. Don’t miss our two upcoming events that are essential for stakeholders in Asia and Latin America: Cargo Facts Asia 2024 , taking place April 15-17 in Singapore, and Cargo Facts LATAM 2024 , taking place May 13-15 in Panama City. Register now .

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