ATSG signs B767F lease with Air Incheon

30 / 11 / 2017

Air Transport Services Group has signed an agreement to lease Air Incheon a Boeing 767-300 converted freighter plus an option for a second aircraft, both for 2018 delivery.

Air Incheon, the first all-cargo airline in Korea, currently operates two Boeing 737 freighter aircraft from its base in Seoul Incheon International Airport. A third B737 is undergoing passenger-to-freighter conversion via a contract with PEMCO, a division of ATSG’s Airborne Maintenance and Engineering Services (AMES) subsidiary.

The Korean carrier specialises in perishables, machinery, and dangerous goods. The company is focused on serving the Russia Far East market, in addition to local routes to Japan, China, and Mongolia.

The US freighter lessor's ATSG West Leasing subsidiary in Ireland has committed to lease one converted B767-300F to Air Incheon for a multi-year term anticipated to commence from March 2018. ATSG West Leasing has also granted Air Incheon an option to lease a second B767-300F for delivery later in 2018.

YK Park, president and founder of Air Incheon, said: “Adding the B767-300 to our fleet means we can offer our customers more options for reliable, economical air lift throughout our growing network. We look forward to a lasting partnership with ATSG.”

Rich Corrado, chief operating officer of ATSG, said: “Together with its expanding Boeing 737 freighter fleet, the larger B767 will extend Air Incheon’s range and level of service for its expanding base of customers in Asia and elsewhere.”

In November, ATSG’s Cargo Aircraft Management subsidiary completed delivery of three converted B767-300 freighters under multi-year dry-lease agreements, one each to Cargojet, Northern Aviation Services, and Amerijet. ATSG holds lease commitments for six of the eight B767s it currently expects to deliver through September 2018.

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