Volga-Dnepr Group firms up entry into B777F market
21 / 06 / 2019
By Damian Brett
Volga_Dnepr-DAE Signing Ceremony
The Volga-Dnepr Group has firmed up its entry in the B777F sector with a lease deal for three of the aircraft from DAE Capital, following on from the confirmation of an order for nine of the aircraft with Boeing.
DAE said that it had entered in a sale and leaseback deal for the three freighters, which are due to be delivered to Volga-Dnepr subsidiary AirBridgeCargo in 2020.
Firoz Tarapore, DAE’s Chief Executive Officer, said: “We are delighted to welcome AirBridgeCargo as our newest customer and to be in a position to facilitate them with their fleet requirements as they expand their fleet diversification with this particular type.
“DAE Capital is the world’s largest lessor of 777F aircraft, and our long-term experience with this aircraft type helped in executing this agreement swiftly. We look forward to a long and rewarding relationship with AirBridgeCargo as they continue to grow their successful operations.”
Aleksey Isaikin, President of Volga-Dnepr Group, commented: “Our agreement with Dubai Aerospace Enterprise marks an important moment in our history as we welcome the first Boeing 777 freighters into our fleet. These aircraft will support our strategy of broader fleet diversity and modernization, allowing us to deliver a more cost-efficient product to our customers.”
DAE currently has 15 owned and committed Boeing 777 freighters.
Meanwhile, Boeing’s order and delivery statbook is now showing that Volga-Dnepr UK firmed up orders for nine B777Fs in December, with three of these presumably the ones being sold and leased back via DAE.
The deals come after the Russian airline group signaled its intent to enter into the B777F market at the 2018 Farnborough Air Show with a commitment for 29 of the aircraft.