Inside Logistics

New planes for Cargojet

Cargo airline leasing two 767-200ER freighters

May 9, 2014
by MM&D Online Staff

WILMINGTON, Ohio—Cargojet is leasing two 767-200ER freighters from Air Transport Services Group, Inc.

Cargojet currently dry-leases two Boeing 767-200 freighters from ATSG’s subsidiary Cargo Aircraft Management Inc. (CAM) under long-term agreements. Cargojet has signed agreements to dry-lease an additional two Boeing 767-200 freighters from CAM, for up to three years. The first aircraft is expected to be delivered by the end of the second quarter, with the second aircraft delivering early in the third quarter.

“Cargojet is currently in the process of a fleet renewal plan. Leasing these two additional 767-200 freighters is part of our current growth strategy to continue to meet our customer’s requirements and needs,” said Ajay Virmani, President and CEO of Cargojet. “The 767-200 freighters were introduced to our fleet in 2008.”

CAM President Rich Corrado said, “It’s gratifying when a satisfied customer like Cargojet, expands their business with us by taking additional aircraft. We now expect 23, or over half of our 767 freighters, to be operating under long-term dry leases with external customers by the end of the third quarter this year, and the remainder being leased by ATSG subsidiary airlines.”