Air Transport Services Group has acquired two Boeing 737-400s and will convert them to freighters to lease to China-based Okay Airways.
Ireland-based aircraft leasing company ATSG West Leasing has acquired the aircraft and will lease them to Okay in late 2017 for seven years and PEMCO World Air Services, another ATSG subsidiary will convert them this summer at its Tampa International Airport facility.
Okay Airways will operate the aircraft to support express services for e-commerce and other companies in the domestic China market.
ATSG, Okay Airways and Tianjin government affiliate Tianjin Dongjiang Investment holdings are establishing a joint venture company to support the growing e-commerce market.
ATSG West Leasing managing director, Brad Heath says: “We are very pleased to acquire, convert and lease these aircraft into the air express market in China. This initiative leverages the core capabilities of PEMCO, ATSG West Leasing and of our strategic partners in China.”
PEMCO director of conversion programs, Mike Andrews says: “We’re excited to be working with our affiliate ATSG West Leasing Limited and to be redelivering more PEMCO-converted aircraft into the Chinese market.”
The PEMCO converted 737-400 features 11 pallet positions, up to 48,000 pounds of payload and 4,600 cubic feet of volume.