22 Jan 2024

Cargojet Revises Fleet Strategy

Amergin Acquires Valkyrie Aircraft Portfolio

Amergin Asset Management announced that Amergin Aviation, a portfolio company of certain funds managed by AAM, has acquired the Valkyrie portfolio of five narrow body aircraft with leases attached increases to nine narrow body aircraft on lease to operators in Europe, the Americas and Asia.

Cargojet Revises Fleet Strategy

Cargojet announced a revised fleet strategy to reflect current market conditions. The carrier currently has four surplus Boeing 757 freighters and is exploring options such as dry lease or ultimate sale of these aircraft and currently owns the feedstock for two B767’s and plans to convert them as the demand begins to recover over the next couple of years. The freighter operator has decided it will no longer convert four Boeing 777-200s into freighters reserving for future option. Cargojet Executive Chairman, Dr. Ajay Virmani said “Throughout 2023 we exercised caution in deploying growth capital given the softer economic conditions. Forecasts continue to indicate that the international air cargo market will remain soft in the short to medium term and deploying B-777s into the market would not be strategically prudent. We have decided to exit our commitments for the four remaining B-777 aircraft, while continuing to flex our B767 fleet to accommodate our organic growth strategy.”

Delta Airlines expands fleet with Airbus A350-1000 order

Delta announced it will add 20 Airbus A350-1000s to its fleet from 2026 to 2028 powered by Rolls Royce Trent XWB-97 engines. The aircraft are over 20% more fuel efficient than retiring planes, supporting Delta’s long-term sustainability goals. Delta stated the aircraft will primarily be operated in long-haul markets and international hubs in support of Delta’s international expansion, replacing retiring planes and fuelling growth. Delta Chief Executive Officer Ed Bastian said “The A350-1000 will be the largest, most capable aircraft in Delta’s fleet and is an important step forward for our international expansion. The aircraft complements our fleet and offers an elevated customer experience, with more premium seats and best-in-class amenities, as well as expanded cargo capabilities.”

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