Freighter Aircraft Transactions drop 10% in first half of 2024

Freighter aircraft transactions in the first half of 2024 decreased nearly 10% year over year to 453 from 503 as acquisitions and redeliveries accounted for 164 of the transactions Cargo Facts recorded during the period. Although total acquisitions in the first half of 2024 dropped to 97 from 109 YoY, they accounted for thirty-three more FATs than redeliveries and there were twice as many acquisition FATs than conversion inductions, lease deliveries and lease orders each. Acquisitions were almost an even split with narrowbody transactions, holding a slight edge over widebody by three. The 737-800 increased its acquisition total to seventeen by two FATs YoY, while 757-200 acquisitions dipped to just one this year from ten in 2023 as Precision Aircraft Solutions will likely end its conversion program by yearend. The A321-200 fell just short of double-digit acquisitions with nine for H1, while 737 Classic acquisitions decreased to nine in 2024 by four YoY. In comparison with H1 2023, when the narrowbody segment — feedstock 737-800s specifically — led acquisitions, the 747-400F regained momentum in the first six months of 2024 with fifteen acquisitions, surpassing the 767-300ER and 777-200LR to lead the widebody segment. The following table summarizes the FATs Cargo Facts recorded in H1 2024. Conversion market slows Although conversion redeliveries only trailed acquisitions in the first half this year, they decreased 32% YoY to sixty-six, with customers for the 737-800BCF taking twenty-one of those redeliveries. The A330-300P2F saw its redelivery total increase by three YoY to five for H1 while A321-200F redeliveries remained steady with ten. Redeliveries of 767 conversions declined in H1 as Boeing’s 767-300BCF decreased by eight FATs to seven and IAI’s 767-300BDSF dropped from thirteen to seven. Redeliveries of the 757-200PCF experienced a significant downturn in the first half, dropping to one from six in 2023. The 737-800SF followed a similar pattern with its redeliveries reduced by seven aircraft YoY to four. Conversion inductions also showed a downward trajectory, with the number of FATs decreasing by twenty-eight YoY to fifty-one in the first half. One notable drop-off in induction transactions was the 767-300ER, which fell to six from twenty. On a positive note, A321-200 inductions increased by three FATs to thirteen. 737-800 inductions remained the same YoY at nineteen through the first half. Lease orders up Lease orders came in strong in the first half of 2024, with the number of transactions increasing to fifty-four from forty YoY. Narrowbody lease orders grew by three in H1 2024 while widebody and regional freighter lease orders rose by eight and three, respectively. Lease orders for the 737-800SF and A321-200PCF both grew by two and the A321-200P2F rose by one compared with 2023. For the second consecutive year, the 737-800BCF led all types with ten lease order FATs in the first half, though that was eight fewer than H1 2023. While conversion inductions slowed in the second quarter, lease orders, redeliveries and retirements continued to grow. A closer look at Q2 2024 In the second quarter of this year there were signs of growth as Cargo Facts recorded fifty-eight more transactions than in Q1 . Thirty-three of the fifty-eight FATs stemmed from FedEx and UPS retiring older freighters. The number of aircraft going on lease expanded by twenty-four FATs in Q2 with lessees taking nineteen more narrowbody freighters, six more regional freighters and one more widebody than in the previous quarter. In Q2, lease order FATs grew by twenty quarter over quarter to thirty-seven. Kalitta Air is set to lease three more 777Fs from United Arab Emirates-based DAE Capital this year, while Slovakia-based AirExplore ’s deals with GA Telesis, World Star Aviation and AviaAM Leasing accounted for half the fourteen 737-800F lease orders recorded in Q2. Redeliveries increased, despite supply shortages and rising costs , with thirty-six transactions in Q2 compared with thirty in Q1. AerCap set itself apart in this category, taking redelivery of three 737-800BCFs (29374, 32672 and 32688) and one A321-200P2F (3966). The 737-800 freighter led redeliveries in Q2 with ten FATs. For widebodies, the 767-300F had the most redeliveries with six transactions. Narrowbody freighter conversion inductions dipped by twelve aircraft in the second quarter to twenty-two in Q2 from thirty-two in Q1. The 737-800 led this category with six aircraft inducted for conversion, followed by the 767-300ER, A330-300 and A321-200, with four each. Cargo Facts records all freighter aircraft transactions in our FAT Database . The 30th Cargo Facts Symposium will take place Oct. 14-16 at the Omni Hotel in San Diego. Gain valuable insights, success strategies and networking opportunities at this special anniversary event. Learn more and register today to take advantage of our early-bird sale.

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