ATSG invests in Airbus A330 passenger to freighter conversions
The US-headquartered Air Transport Services Group said it will begin procuring Airbus A330 passenger gets through its leasing arm Cargo Aircraft Management (CAM) and convert them into freighters as part of a broader strategy to expand its leasing business in support of express network operators that need bigger fleets to keep up with volume growth.
The company said it has secured twenty A330 conversion slots with Elbe Flugzeugwerke (EFW). The announcement was made during the company's second-quarter earnings report.
ATSG has secured rights for 67 freighter conversion slots starting in 2022 through the end of 2025. These slots include Boeing 767-300s, Airbus A321s, besides the Airbus A330 aircraft.
Twenty A330 slots, acquired by CAM, will run from around mid-2023 through the end of 2025, with the majority likely to be at EFW’s facility in Dresden (DRS). CAM will continue to acquire aircraft to fulfil those slots and may even consider more beyond that, depending on the market, the company said.
“The A330 converted freighter, like our 767-300s will be a popular mid-sized option for our leasing customers,” Rich Corrado, president and chief executive officer of ATSG said. “The addition of an A330 option will provide our leasing business with a third platform for growth, and complements the A321 freighter we will also introduce next year. Twenty of the 67 conversion slots, beginning in mid-2023 through the end of 2025, are designated for the A330.