Next-gen, Classic narrowbodies dominate Southeast Asia freighter fleet

Air cargo growth Asia remains centered around the archipelago countries of Southeast Asia, with the emergence of startup carriers and existing operators contributing to expanding freighter fleets. Cargo Facts counts seventy-one freighters across twenty-two operators in Southeast Asia as of July 31. These freighter types range from the 747-400 down to the ATR 72, and are registered in five countries: Indonesia, Malaysia, the Philippines, Singapore and Thailand. We include aircraft that are with their new operators but have not yet started flying, and exclude one carrier that has not flown its single 737-300F since January. As the table above shows, there are twenty-two freighter operators in the region: ten in Indonesia, six in Malaysia, three in the Philippines, two in Thailand and one in Singapore. Overall, the 737-300F is clearly the most popular type in the region with twenty-six units across ten operators, but the 737-800F is catching up and eight carriers have a combined thirteen units. All except one 737-800 are Boeing conversions. Indonesia Ten Indonesian carriers operate only narrowbody freighters and account for twenty-seven of the seventy-one aircraft based in the region, the largest overall fleet by country. My Indo Airlines is the largest operator in the country, with one 737-800BCF, two 737-400Fs and four 737-300Fs. Three Indonesian startups are in the final stages of certification, with Express Cargo Airlines entering the market using a 737-300F while BBN Airlines Indonesia and Raindo United Services will begin operating one 737-800BCF each. Malaysia Next is Malaysia, with six carriers operating twenty-four freighters. The country has the distinction of being the only one in the Southeast Asia region with Airbus freighters — widebody and narrowbody — and recently gained its latest freighter operator after AirAsia took the first of at least three A321-200P2Fs on lease from BBAM. AirAsia is not the only A321F operator in Malaysia; Raya Airways took its first A321-200P2F earlier this year and began commercial service with it in July, while the airline’s first A321-200PCF on lease from CAM arrived in Kuala Lumpur (SZB) on Aug. 2. With Raya’s four 767-200BDSFs and Malaysia Airlines’ three production A330-200Fs, Malaysia has another crown to its name: It is the only country in Southeast Asia with medium-widebody freighters. Thailand In Thailand, K-Mile Air operates five aircraft that fly mostly for DHL Express: two 737-800BCFs and three 737-400SFs. One of the carrier’s 737-800BCFs (29930, ex-AeroMexico) previously flew ACMI service for Malaysia-based AirAsia’s logistics subsidiary, Teleport, before the group acquired its first A321-200P2F. Budget Lines has signed a deal with Singapore-based logistics company Bluorbit and will soon begin service as the second 737-800BCF operator in the country. The startup carrier has leased the 2003-vintage unit 33551 (ex-Ryanair) from BBAM but has yet to fly the aircraft, which features Bluorbit branding. Philippines Although narrowbody freighters dominate the air space in Southeast Asia, Philippines-based Cebu Pacific operates two ATR 72-500Fs, the only two freighters in the region. SEAir International, the second freighter operator in the country, has a 1983-vintage 737-200F in active service. Singapore While it is the only carrier operating freighters in the country, Singapore Airlines has the largest air cargo fleet in the region — by both number and size — with seven 747-400Fs and three 777Fs. The carrier reached a deal with DHL in March 2022 to become the express integrator's fourth CMI operator for its 777Fs . Singapore Airlines will operate five 777Fs on behalf of DHL and has three of the freighters in its fleet. The airline will replace its seven 747-400Fs with A350Fs after signing a letter of intent with Airbus in December 2021 that it subsequently firmed up to acquire seven of the new freighter type with an option for five more, becoming the first 747-400F operator to publicly commit to the A350F. Vietnam An emerging market that still does not have a freighter operator, Vietnam is home to several companies that have come close to adding main-deck capacity to the region. In September 2022, Vietravel Airlines revealed plans to begin dedicated cargo operations with a 737-800BCF . The startup subsequently told Cargo Facts that those plans were placed on hold. While the anticipated arrival of Vietravel’s 737-800BCF prematurely came to an end, VietJet continues to evaluate the opportunity to become the first Vietnam-based carrier to enter the freighter market and told Cargo Facts in June 2022 at the Farnborough Air Show that it planned to place a pair of 737-800SFs into service. However, the carrier, which has long talked about adding freighters, told Cargo Facts in May that it continues its feasibility study and expects to start operations in the second half of 2024 or the first half of 2025. VietJet plans to start with short- to mid-range freighters that will support its A330 passenger widebody routes and its interline and global partners. Vietnam Airlines signed a sale, conversion and leaseback deal with CAM for two A321PCFs, with delivery anticipated this year, according to CAM parent ATSG in an earnings call a year ago. However, the status of the deal and the two aircraft is unclear. Perhaps the company that came closest to flying its own freighters was IPP Air Cargo. The startup, backed by local conglomerate Imex Pan Pacific Group had at least one 737-800BCF painted in its colors ahead of lease delivery from BBAM but at the end of October 2022 the company said that it had shelved its plans to start a freighter airline. As Vietnam awaits its first freighter operator, Cargo Facts expects the Southeast Asian freighter fleet to continue growing in the year ahead, with the narrowbody segment outpacing widebodies and turboprops. While 737NGs and A321s are gaining traction in Southeast Asia, it is clear that 737 Classics, accounting for just under half of all the freighters in the region, still occupy a solid foothold and will continue to do so, at least in the short term. Cargo Facts Symposium, taking place Oct. 25-27 at the Omni San Diego, is the essential event for stakeholders in the freighter and air cargo industry. Learn more and register today to take advantage of our early-bird sale.

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