Global Crossing Airlines signs deal with Icelease for conversion and lease of Airbus A321

By Rebecca Jeffrey

Image source: 321 Precision Conversions

Global Crossing Airlines Group (Global X) has signed a definitive agreement with Icelease to convert an Airbus A321 aircraft into freighter format to be leased to GlobalX for eight years.

The aircraft (MSN 2840) is currently flown by GlobalX in passenger configuration and will be converted at a Precision Aircraft Solutions facility starting in October 2023.

It is expected to be placed into freighter service by April 2024.

GlobalX said it helped arrange for the sale of the aircraft from current lessor Magnetic Leasing to Icelease in order to facilitate the conversion agreement.

“We are delighted to be working with the team at Icelease, whom I have known for many years. They understand our business, think creatively, move decisively and will continue to work with us on additional A321 freighter transactions,” said Ed Wegel, chairman and chief executive of GlobalX.

GlobalX flies as a passenger ACMI and charter airline serving the US, Caribbean, and Latin American markets, but has been investing in P2F aircraft to move into the cargo market.

In March, GlobalX signed an order for the long-term lease of two Airbus A321 Passenger-to-Freighter (P2F) aircraft from Petrus Aerovista A321 Holdings LLC, a joint venture between Aerovista and Petrus Aviation. 

 In October 2020, GlobalX announced plans to lease 10 converted Airbus A321 freighters from Vallair, while in May 2021 it signed a LOI to lease five A321s with ST Engineering’s Aviation Asset Management unit.

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