Israel Aerospace Industries (IAI) will carry out the conversion of four Boeing 777-300ER aircraft for the Canadian company Cargojet. In addition, the contract includes purchase options.
As a result of the explosion of demand in the cargo market, IAI has recently signed several aircraft conversion agreements. These include the four B777-300ERs for Emirates announced in November. In addition, it will open new conversion lines in strategic locations around the world, including Abu Dhabi and Ethiopia.
In addition to conversions, the company also carries out maintenance work, hangar construction, and aircraft modernization, among others. Conversion work on the world’s first B777-300ER SF (Special Freighter) is being completed. The unit should be ready before the end of the year. Once completed, it will operate for AerCap Cargo.
Boaz Levy, IAI’s President, and CEO said of the current market, «The increase in demand for aircraft converted to cargo does not seem to want to stop. The rise of e-commerce and the COVID-19 pandemic have made cargo aircraft central players in the industry.»
On the Cargojet contract, he added: «IAI has decades of experience in aircraft conversion. Cargojet, by selecting us for the conversion of their 777-300ER, demonstrates the industry’s confidence in our process and our product.»
Cargojet is one of Canada’s leading cargo airlines. Through its wet-lease (ACMI) and charter services, it transports more than 25,000,000 pounds (10,000 tons) of cargo per week. The airline has a fleet of thirty-one aircraft.
Paul Rinaldo, Cargojet’s senior vice president of maintenance and engineering, said, «These B777-300ER SFs will support our international expansion plan. They will also further strengthen the relationship between our companies».
