Showing posts with label Air Bridge Cargo. Show all posts
Showing posts with label Air Bridge Cargo. Show all posts

31 March, 2022

BOC takes back one 747-8 freighter from AirBridge Cargo

BOC  Aviation has repossessed a Boeing 747-8 Freighter that had been leased to Volga-Dnepr Group subsidiary AirBridge Cargo that was in Hong Kong.

The four-engine plane was ferried to California after a judge agreed it should be returned to the leasing giant following legal action started by BOC. In court documents filed on 14th March, the lessor said the plane was worth nearly $150 million and the Russian airline had breached the lease contracts on two other 747-8 cargo planes that were flown to Russia against BOC's wishes after they had grounded them in China. The insurance on those aircraft had been cancelled on 5th March. 

The leasing firm has 18 aircraft currently leased to Russian airlines which could be affected by the insurance cancellation. One of the planes was also flown back to Russia despite having its airworthiness certificate being withdrawn by the Bermudian authorities where the aircraft was registered.  

AirBridge Cargo has refused to make a comment.

BOC is not alone in having difficulty in recovering leased aircraft from Russian airlines, one of the largest leasing firms AerCap has been trying to get some of the 100 or so aircraft it has in the country back. Those attempts have not been successful and it has submitted an insurance claim for some $3.5 billion it says those aircraft are worth. This is the start of what will undoubtedly be a long and intense process which could lead to it being virtually impossible for Russian airlines to be able to lease western planes in future.  

Follow this site here.

21 March, 2022

WestJet Cargo and the GTA Group announce partnership expansion to better serve Canada's express cargo market

                                              WestJet Cargo and the GTA Group today announced a long-term partnership that will support the expansion and growth of domestic cargo opportunities for both businesses. Beginning in 2022, WestJet Cargo will partner with the GTA Group to increase shipping capacity using four dedicated 737-800NG freighters operated by WestJet, to fulfill overnight express cargo service out of WestJet's Toronto hub.

"This partnership is building on proven success between WestJet Cargo and the GTA Group," said Charles Duncan, WestJet, Executive Vice-President, Cargo and President, Swoop. "WestJet Cargo will bring customers new competitive options, and together with GTA we will disrupt the industry, providing more air freight capacity to domestic cargo customers who depend on reliable and on-time performance. We are eager to see these freighters take flight as we plan ahead to best serve Canadians and their business needs."

WestJet's 737-800NG narrow-body aircraft is perfectly suited to serve the overnight express freight community offering increased flexibility and frequency. Quick to fill and fly, with among the best fuel efficiency in the cargo category, these freighters will provide the partnership with a competitive cost advantage. In addition to dedicated freighters, WestJet Cargo will further support the GTA Group's service through WestJet's existing cargo business in the bellies of its commercial fleet.

"This is an exciting opportunity for our organization," said Mario D'Urso, Chairman of the GTA Group of Companies. "We are thrilled to partner with WestJet and confident that, together, we will offer the Canadian market a new alternative shipping option to meet the demands of this rapidly growing, expanding, and demanding market."

Founded in 2001 and based out of Toronto, Ontario, the GTA Group of companies offers a diverse array of aviation-related services ranging from ground service equipment maintenance, rental and sales to ground and cargo handling, eCommerce and cargo sales.

Follow this site here.

23 January, 2021

Voyager Announces the Lease Conversion of a Second 747-8F

Voyager Aviation Holdings,  announced this week that it has entered into an agreement with AirBridgeCargo Airlines and Volga-Dnepr Group to convert the operating lease on one (1) of the Company’s 747-8F aircraft into a finance lease. The transaction is the second conversion of a 747-8F operating lease with AirBridgeCargo (part of Volga-Dnepr Group) to a finance lease.

“This second lease conversion, following the first transaction announced on December 14, 2020, is indicative of the continued strength of the cargo market and performance of AirBridgeCargo and Volga-Dnepr,” said Voyager’s President & Chief Executive Officer, Mike Lungariello. “Voyager is pleased to offer innovative financing solutions to our customers, and we will continue to do so in the future when opportunities present themselves.”

31 December, 2020

Volga-Dnepr Airlines returns AN-124-100 to service following recent crash.

Photo Volga-Dnepr Group

The heavy and odd-shaped cargo specialist freight carrier Volga-Dnepr Airlines has confirmed the restart of flying operations of the Antonov An-124-100 commercial operations following a crash in November grounded the fleet.

The first plane ready after the completion of technical checks and execution of service directives to a full extent was RA-82077 completing a flight from Leipzig to Shanghai on 26th December.  

The airline suspended operations after the incident on the 13th of November 2020 which saw one of the fleet suffer an uncontained engine fan disk failure of series D-18T shortly after take-off. The failure resulted in engine failure and the loss of control systems. The bulk carrier was carrying 84 tons of cargo with full fuel tanks at the time of the incident. Despite suffering engine failure and loss of control elements, the crew still managed to avert a major disaster by making a 180-degree turn, land the aircraft, managing to keep the aircraft on the runway before skidding off the end of the runway.

15 December, 2020

Voyager announces the lease conversion of a 747-8F

Voyager Aviation Holdings,  announced on Monday, 14th December that it has entered into an agreement with AirBridgeCargo Airlines to convert the operating lease on one of the Company’s 747-8F aircraft into a finance lease. The aircraft remains on lease to the current lessee, AirBridgeCargo. The aircraft will remain in the Voyager fleet and the Company will continue to receive periodic cash flow to equity from the aircraft.

The net proceeds from the transaction are expected to provide the Company with significant additional liquidity, which Company intends to use for general corporate purposes. The transaction is indicative of the strength in the cargo market, the performance of AirBridgeCargo, and the Company’s ability to provide solutions to its customers and to do so expeditiously.

Recommended for you...

18 August, 2020

Boeing 777 Freighter Joins the Volga-Dnepr Group

Volga-Dnepr becomes the 19th operator to date to use the large-capacity twin-engine freighter.
Photo Boeing

The week a Boeing 777 freighter joined the Volga-Dnepr Group fleet of 22 Boeing freighters after departing Paine Field in Everett, Washington. This twin-engine freighter will begin operations with AirBridgeCargo, a subsidiary of Volga-Dnepr.

AirBridgeCargo will operate the aeroplane via a sale-leaseback agreement with Dubai Aerospace Enterprise (DAE).  “We are delighted to welcome Volga-Dnepr Group as our newest customer as they introduce the 777 Freighter to their fleet,” said Firoz Tarapore, DAE’s Chief Executive Officer. “DAE Capital is the world’s largest lessor of the profitable and efficient 777 Freighter. We look forward to a long and rewarding relationship with Volga-Dnepr Group as they continue to grow their successful operations.”

Volga-Dnepr Group is among the world's largest Boeing freighter operators, flying 17 747 freighters and five 737 freighters, including 13 747-8F, four 747-400ERF, two 737-800BCF and three 737-400SF.

16 June, 2020

East Midlands Airport welcomes UK’s only direct China/UK air cargo service

East Midlands Airport, home to the UK’s largest dedicated air cargo operation, is now served by a weekly Hong Kong to EMA cargo flight. The route has been introduced by DHL Express in response to increasing business demand for shipments from Asia.

Photo Nikki Davy

The new service is currently the UK’s only dedicated cargo flight to the UK from China carrying goods exclusively for the UK.

Operated by the iconic Boeing 747-8 Queen of the Skies, one of the most fuel-efficient freighters currently available, with a cargo capacity of 130 tonnes, the flight departs Hong Kong on Fridays arriving at East Midlands Airport on Sunday. Shipments enter the delivery cycle to be distributed across the UK on Monday morning. 95% of the goods on board are time-critical products, from medical and industrial supplies to consumer e-commerce shipments.

In addition to the Hong Kong - EMA route, DHL Express has also introduced two additional new routes from JFK Airport and Miami International into EMA and, later this month, a new flight from EMA to Los Angeles will also be introduced. These routes are in response to the growing demand for time-critical deliveries from the USA, ensuring the DHL Express network continues to provide the best possible connectivity and service for customers at this critical time.

20 February, 2019

Aviation Capital Group confirms funding for a Boeing 747-8F cargo aircraft for AirBridgeCargo

Photo AirBridgeCargo
Aviation Capital Group, a leading aircraft operating lessor, announced this week that it has structured, arranged, and provided a guarantee of a loan by MUFG Bank Ltd. (MUFG) to finance a portion of the purchase price of one Boeing 747-8F aircraft delivered to 
AirBridgeCargo (ABC) Airlines, one of the world’s leading air cargo carriers.

The ABC financing utilized ACG’s Aircraft Financing Solutions (AFS) program. The AFS program complements ACG’s operating lease business by providing customers with cost-effective aircraft financing solutions. Among operating lessors, ACG believes that it has created a unique aircraft financing program.