Boeing will convert a 767-300 passenger jet into a freighter for Icelease, which also took options for up to two more conversions, as the leasing company continues to grow its freighter portfolio, the companies announced on Monday.
The first aircraft is scheduled to take its production slot in the first quarter of 2027, with delivery of the converted aircraft expected in the second quarter. Boeing (NYSE: BA) said it will convert the airplanes at partner ST Engineering’s airframe overhaul facilities in Singapore.
Icelease was formed 20 years ago as the leasing arm of Icelandair. It owns, or will purchase the 767s and will deliver them to ST Engineering for the retrofit work.
“This agreement with Boeing to convert up to three Boeing 767 aircraft marks an important milestone for both Icelease and its Dublin-based sister company IAT Leasing,” said Sigthor Einarsson, managing partner, Icelease. “The Boeing 767-300 converted freighter will join the growing managed cargo aircraft portfolio of IAT Leasing, which already includes seven Boeing 737-800BCF and other freighters leased to various customers.”
Some of those B737-800 converted freighters are currently on lease to ASL Aviation Holdings, which operates several airlines in Europe and Australia supporting express carriers, and Tianjin Air Cargo in China.
The 767-300 is the world’s most popular medium widebody converted freighter and has a range of 3,3000 nautical miles with a 57 metric ton-payload.
Global demand for widebody freighters is high as cargo volumes continue to grow, wars force airlines to make long detours and use more aircraft to meet customer needs and many large freighters are retired. The feedstock of passenger 767s available for conversion is dwindling and carriers are slowly turning to the Airbus A330-300 converted freighter to meet future replacement and growth requirements.
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