As part of the agreement, IAI will convert 30 Airbus A330-300 jets between 2025 and 2028
Israel Aerospace Industries (IAI) will convert A330-300 aircraft from passenger to freighter configuration for Avolon. As part of the agreement with Avolon, IAI will convert 30 Airbus A330-300 jets from passenger to cargo configuration between 2025 and 2028. The signing of the agreement with Avolon, the first customer for cargo conversions of this aircraft model, follows the backdrop of high profits in 2021 and the projected doubling of cargo aircraft traffic in the next 20 years due to increased e-commerce.
Avolon is the third largest aircraft leasing company in the world, with a fleet of 837 aircraft (as of June 2021). In additional to being the first customer for cargo conversions for this aircraft, Avolon will fully take part in the aircraft conversion and licensing process.
The A330-300 aircraft, which will be converted at IAI, will provide a competitive and advanced solution for cargo and commerce companies looking to expand and improve their widebody cargo jet fleet. The converted model will increase cargo volume capacity with up to 27 main deck pallet positions, one more than the competition, and will improve the cargo loading capacity due to the unique cargo door placement, and will support and enhance the operations surrounding cargo jet flights.
IAI President & CEO, Boaz Levy, said: “For the second time in recent years, IAI’s Aviation Group is making history. Just two years ago we announced that we will be the first in the world to perform a passenger-to-freighter conversion on the B777-300ER, and today we are announcing that we will perform the first cargo conversion for the Airbus A330-300 aircraft. IAI has proven time and again its leading position as the powerhouse of cargo conversions, globally. I am grateful to our partners at Avolon for their faith in our abilities.”
Avolon CEO, Dómhnal Slattery, commented: “We have identified IAI as a long-time global leader in the aircraft conversion business and the right partner for Avolon to capitalise on the unparalleled growth in e-commerce. The global air freight market is worth over US$150 billion annually today and the sector is transforming, with the air cargo traffic expected to double over the next 20 years. This partnership with IAI signals Avolon’s intention to be a leading player in the expansion of the cargo aircraft industry.”