Cargoitalia gets new MD-11F

BOEING has delivered Cargoitalia’s third MD-11 freighter under a long-term lease.

Boeing Capital Corporation, the company’s aircraft financing arm, structured the deal for the newly completed MD-11 Boeing Converted Freighter (BCF), with Boeing conducting the modification work at its subcontractor facility in Singapore. Following its acceptance by Cargoitalia, the aircraft flew directly to the operator’s main base at Malpensa Airport here, where it awaits entry into service.

The new BCF joins two other MD-11s leased from other sources in the carrier’s scheduled and charter service operations from Italy to the Middle East, Asia and North America.

Cargoitalia expects to put it into service on its emerging Milan-Shanghai route beginning in July.

“We are very pleased to add an aircraft with the increased quality and capability of the new MD-11 BCF to our fleet. It will be a fundamental tool for developing our cargo network and putting our growth strategy into place,” said Giacomo Manzon, Cargoitalia’s managing director.

“From a financier’s perspective, investment in a MD-11 freighter conversion is a great move in terms of the aircraft’s residual value. It takes a strong aircraft asset beyond its role as a passenger carrier and extends it to a new cargo-focused life, maximising its value in the process,” said John Kent, Boeing Capital’s senior director for Europe.