EMEA carriers aim for agility in face of uncertainty

Carriers are emphasizing the importance of flexibility amid industry shifts spurred by tariff tensions. Industry leaders and stakeholders from Europe, the Middle East and Africa assembled in Istanbul this month for the Cargo Facts EMEA 2025 event to share their insights on the latest trends and developments unfolding in the freighter aircraft market. [caption id="attachment_57289197" align="aligncenter" width="2560"] Cargo Facts EMEA 2025 included a gala dinner with a view over Istanbul. (Photo/Cargo Facts)[/caption] Carriers began 2025 with optimism after a strong peak season, but escalating tariff rates have slowed the industry’s momentum. The U.S. Court of International Trade on May 28 blocked many of the import taxes the Trump administration has threatened and imposed on other countries. The Justice Department has since filed an appeal that was upheld today by a federal appeals court, temporarily blocking the trade court’s ruling and reinstating the levies. Operational flexibility is key The quickly changing tariff landscape was a topic of discussion for carriers at the event. “We were talking about scenarios and could not see one to two weeks ahead,” Adnan Karaismailoglu, senior vice president of cargo revenue management and freighter planning at Turkish Airlines, said during the opening discussion at Cargo Facts EMEA 2025. “And at some specific point, we stopped creating scenarios and creating actions based on the scenarios, but started to focus more and more on flexibility. [caption id="attachment_57289196" align="aligncenter" width="2560"] Cargo Facts Consulting Director Guillermo Ochovo, far left, moderates a panel with, from left, Colin Grant of ASL Aviation Holdings; Adnan Karaismailoglu of Turkish Airlines; Audrone Keinyte of Magma Aviation; and Ali Sedat Ozkazanc of MNG Airlines. (Photo/Cargo Facts)[/caption] “Currently, I believe that no one in the world, including the president of the United States, is aware of what’s going to happen in the next couple of weeks,” he said. “So, we cannot exactly decide what to do in the near future, but this should not change our strategic vision at all.” Incorporating flexibility into Turkish’s operation does not alter its strategy; it simply allows Turkish to adjust to current market changes and wait for the opportunity to resume implementing its business model, Karaismailoglu said. The tariffs and trade war further complicate an industry still seeking ways to overcome limited capacity, supply chain constraints, material and labor shortages, and delays affecting production and converted aircraft. MNG Airlines Chief Executive Ali Sedat Ozkazanc emphasized this point during the panel, saying: “We are looking for new capacity, but there are no aircraft available. There is something wrong. We have to think about that. Everybody is waiting.” Widebody lift scarce as delays mount The delayed arrivals of the Airbus A350F , Boeing 777-8F and 777 conversion program approvals have prompted carriers to retain older freighter types for longer than anticipated, raising their value as demand increases. Boeing’s current-generation 777F, which will cease production in 2027, has seen its market value elevate due to the tight widebody market. George Dimitroff, head of valuations at Cirium Ascend, noted during an appraisal panel at the event that a ten-year-old 777F in full-life maintenance condition — comparable to new condition — has a market value of approximately $137.1 million, close to the full-life market value of $156 million when it was brand new. “Meanwhile,” he said, “the market value on delivery of a brand new 777F today is approximately $168.2 million.” A different approach Even amid the constraints, delays and high costs, some EMEA carriers have found ways to grow their widebody capacity. Turkish Airlines has expanded its widebody lift through ACMI deals with Atlas Air and ULS Airlines Cargo. Atlas began providing ACMI services for Turkish on May 6 with one of its 747-400Fs (30767, ex-China Airlines) flying from Chicago (ORD) to Istanbul (IST) to launch the long-term agreement. ULS provided Turkish a glimpse of the A330-300 freighter in operation when it flew its 2000-vintage, Trent 700-powered unit 356 from IST to Cairo (CAI). [caption id="attachment_57289202" align="aligncenter" width="2560"] Air Atlanta Icelandic's Baldvin Hermannsson speaking on the widebody panel at Cargo Facts EMEA 2025. (Photo/Cargo Facts)[/caption] Air Atlanta Icelandic will soon add a new widebody freighter to its fleet to support demand after acquiring three ex-China Airlines 747-400Fs to expand its quad-engine widebody fleet to fourteen aircraft, CEO Baldvin Hermannsson said during a panel on widebody freighters. Meanwhile, widebody lessor Titan Aircraft Investments is eyeing A330 freighters to diversify its medium-widebody portfolio to address growing demand for the type. Medium widebodies expand Europe presence Denmark-based Maersk Air Cargo added two 777Fs and three 767-300Fs during the past three years and plans to continue investing in its older 767-200Fs to support capacity and demand from its customers. “We will continue to fly the 767-200F as long as we can because it serves a purpose,” Lars Jordahn, global head of the carrier, said during a fireside chat at the conference. Maersk’s 99.2% reliability rate for its 767-200Fs is largely due to its maintenance personnel’s familiarity with the aircraft, and the freighter consuming less fuel on shorter routes in Europe, Jordahn said. [caption id="attachment_57289200" align="aligncenter" width="2560"] George Seturidze of Camex Airlines speaking on the widebody panel at Cargo Facts EMEA 2025. (Photo/Cargo Facts)[/caption] Meanwhile, in Georgia, which is a hotspot for medium-widebody growth, Geosky hopes to introduce a third 767-300F later this year as the carrier focuses on expanding its widebody fleet. The freighter will complement the two PW4000-powered 767-300BCFs (28043 and 30564) it leased from Saltchuk Aviation subsidiary NAS Aircraft Leasing in 2024. Fellow Georgia-based carrier Camex Airlines expects to add its second 767-300 freighter later in 2025, CEO George Seturidze said during a panel on widebody freighters. As European carriers continue to source medium-widebody freighter options, demand for narrowbody lift is growing in the Middle East and Africa. Growing narrowbody demand in Middle East, Africa United Arab Emirates-based SolitAir expects to grow its 737-800 freighter fleet to as many as twelve aircraft by the end of the year and add up to ten more in 2026, founder and CEO Hamdi Osman said during a discussion on narrowbody freighters. SolitAir dry leased a 2005-vintage 737-800BCF (33023) from ASL Aviation Holdings after receiving its UAE AOC from the General Civil Aviation Authority on March 26. ASL began providing ACMI service for SolitAir with unit 33023 in October 2024, and has since deployed three more 737-800BCFs (32686, 30879 and 34251) to the carrier. [caption id="attachment_57289199" align="aligncenter" width="2560"] Cargo Facts Senior Associate Editor Robert Luke, far left, moderates the narrowbody panel with, from left, Sanjeev Gadhia of Astral Aviation; Hamdi Osman of SolitAir; and Alex Harrington of Titan Airways. (Photo/Cargo Facts)[/caption] And in Africa, Kenya-based Astral Aviation is looking to expand its narrowbody freighter fleet. After placing its first 737-400F (27082, ex-Alaska Airlines) into service in December 2024, Astral plans to add more 737 Classic freighters to its own fleet and that of South Africa-based subsidiary Suid Cargo Airlines before moving on to 737-800Fs, Astral founder and CEO Sanjeev Gadhia said during the narrowbody panel. “I really believe that this is the right strategy for Africa, especially with the fact that we have no intentions to fly any narrowbody aircraft outside of the continent,” Gadhia said. Carriers will face challenges over the next couple of years growing their narrowbody freighter fleets with rising conversion costs for next-generation types and strong demand for the limited supply of 737 Classics. Airbus and Boeing could bring stability to the supply of narrowbody feedstock aircraft in 2030 — even as early as 2028 — if both aircraft manufacturers meet their delivery goals for A320neos, A321neos and 737 MAXs, taking into account lease expiries of older narrowbodies, Cirium Ascend’s Dimitroff said. “Hopefully, if the new production of neos and MAXs is enough, that will then allow airlines to finally let go of those passenger aircraft,” he said. “Then the lessors will either be able to convert them themselves or sell the feedstock to anyone who wants to buy it.” See all the coverage of Cargo Facts EMEA 2025 .

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