Published on October 7th, 2021 | by Alan Dwyer0
Avolon Commits to the A330 P2F
Leasing company Avolon has announced a partnership with Israel Aerospace Industries (IAI) to commit to 30 Airbus A330-300 P2F conversion slots between 2025 and 2028. The signing of the agreement between Avolon and IAI, the first customer for cargo conversions of this aircraft model, follows the projected doubling of cargo aircraft traffic in the next 20 years due to increased e-commerce where air cargo revenues are forecasted to exceed US$150 billion in 2021. Avolon will be IAI’s launch customer for their Airbus A330-300 freighter conversion programme.
The A330-300 aircraft, which will be converted at IAI, will provide a competitive and advanced solution for cargo and commerce companies looking to expand and improve their widebody cargo jet fleet. The converted model will increase cargo volume capacity with up to 27 main deck pallet positions, one more than the competition, and will improve the cargo loading capacity due to the unique cargo door placement, and will support and enhance the operations surrounding cargo jet flights. The A330-300P2F will have a range of over 3,600 nautical miles at the maximum payload of 61 tonnes.
Commenting on the deal, Avolon CEO Dómhnal Slattery said, “We identified IAI as a long-time global leader in the aircraft conversion business and the right partner for Avolon to capitalise on the unparalleled growth in e-commerce. The global air freight market is worth over US$150 billion annually today and the sector is transforming, with air cargo traffic expected to double over the next 20 years. This agreement signals Avolon’s intention to be a leading player in that expansion. We believe the IAI A330-300 P2F will be the wide-body freighter of choice this decade and beyond, replacing retiring aircraft and providing the volume capacity required to meet market needs. In partnering with IAI we have identified the most efficient operator in the freight conversion market, guaranteeing more cargo pallet capacity and crucially, faster turn around times, in a market where every inch and second count.”
Also commenting was IAI President & CEO, Boaz Levy who added, “For the second time in recent years, IAI’s Aviation Group is making history. Just two years ago we announced that we will be the first in the world to perform a passenger-to-freighter conversion on the B777-300ER, and today we are announcing that we will perform the cargo conversions for the Airbus A330-300 aircraft. IAI has proven time and again its leading position as the powerhouse of cargo conversions, globally. I am grateful to our partners at Avolon for their faith in our abilities.”