ATSG commits to 29 A330P2Fs, EFW to do conversions
Air Transport Services Group (ATSG), the world's largest lessor of freighter aircraft, has committed to 29 Airbus A330 Passenger-to-Freighter (P2F) conversion slots with Elbe Flugzeugwerke (EFW), a joint venture between ST Engineering and Airbus.
"The A330-300 passenger-to-freighter conversion is a natural next step for ATSG as it is an excellent complement to the Boeing 767-300 medium wide-body freighter, which has long been the freighter of choice for the e-commerce air cargo market," says Mike Berger, chief commercial officer, ATSG. "The availability of feedstock combined with impressive cargo capacity make the A330 a very attractive option for conversion and will enable ATSG to continue to meet the demands for full-capacity freighters long into the future. The customer response to the news that we will have A330-300 freighters available for lease has been exceptionally strong, and we already have customer deposits toward future leases for half of these 29 converted freighters."
Andreas Sperl, CEO, EFW added: "To have a key market player like ATSG adopting the A330P2F programme with such a high commitment is a major milestone for us. This is a great sign of confidence in next-generation Airbus freighters and trust in EFW's competency as a centre of excellence for Airbus freighter conversions."
The A330P2F programme comes with two variants – the A330-200P2F and A330-300P2F – which are both equipped with advanced technology that offer airlines additional operational and economic benefits. "The A330-200P2F can carry a gross payload of up to 61 tonnes to over 7,700 km. The A330-300P2F offers a gross payload of up to 63 tonnes and a containerised volume of up to ~18,581ft3 (~526m3), which brings a new paradigm of efficiency with 23% more cargo volume than other freighter aircraft in the same class."
The A330P2F conversions will be performed from mid-2023 through 2027 mainly at EFW's facility in Dresden, Germany, and also at ST Engineering's conversion sites in China. Multiple conversions will be carried out in parallel, the statement added.
ATSG reported a 10 percent increase in 2021 revenue to $1.73 billion and an adjusted EBITDA of $541 million, up 9 percent from last year. Fourth quarter earnings ended on a strong note with a 21 percent increase in revenue to $482 million and an adjusted EBITDA of $154.8 million, up 27 percent.
ATSG has projected a $100 million increase in EBITDA for 2022 to $641 million based on long term leases, CMI contracts and combi operations.
