IAI to convert B777-300s to freighters for EVA Air

EVA Airways Corporation’s (EVA Air) board of directors have approved the conversion of three Boeing 777-300ER passenger aircraft to freighter configuration.

This is according to a Taiwan Stock Exchange announcement on March 14.

Israel Aerospace Industries (IAI) will be undertaking the conversion, according to the stock exchange document.

The unit price for each conversion is up to $40m and the total transaction price is up to $120m.

Bolstered by demand for cargo, EVA Air reported NT$6.6bn (US$231m) in net profit over the past year, with revenues up by 15% from 2020.

Founded in 1989, EVA Air is a 100% privately owned Taiwanese airline with Evergreen Marine Corporation and Evergreen International Corporation as major shareholders.

EVA Air currently serves 68 destinations over four continents, with 87 aircraft.

Last year, aircraft leasing firm Avolon became the launch customer for IAI’s A330-300 freighter conversion programme after signing a deal for 30 of the aircraft.

Lessor Avolon targets cargo with A330 conversion deal

IAI expands B777 freighter conversion programme with Etihad partnership