Israeli engineering firm Israel Aerospace Industries (IAI) will convert four Boeing 777-300ER aircraft into freighters on behalf of Canadian cargo airline Cargojet. The agreement also includes additional options for the future.
Cargojet P2F agreement
Israel Aerospace Industries, one of the world's leading conversion specialists, has signed an agreement with Cargojet for the P2F conversion of four Boeing 777-300ERs.
According to IAI,
"The agreement was signed as a result of the growing global demand for cargo aircraft, and includes the conversion of 4 B777-300ER aircraft and additional options in the future."
The deal is worth tens of millions of dollars and is the latest agreement between the two long-time partners.
Boaz Levy, President and CEO at IAI, said,
"Cargojet’s selection of IAI to carry out the B777-300ER aircraft conversions is a testament to the trust and customer satisfaction in IAI’s conversion process and in the final product, and we thank Cargojet for the trust they have placed in us."
The Boeing 777 will be the largest cargo aircraft in Cargojet's fleet, which currently consists of over 30 Boeing 757 and Boeing 767 freighters. The 'Big Twin' Boeing 777-300ERSF will be capable of carrying over 100 tonnes and enables Cargojet to handle more long-haul operations.
Cargojet now has eight incoming Boeing 777 freighters after quadrupling its initial order for two. The airline will receive four converted Boeing 777-200s from Florida-based firm Mammoth Freighters and also has the option for two additional Boeing 777-300s.
Paul Rinaldo, Cargojet’s Senior Vice President Maintenance & Engineering, said,
"IAI is an important aviation partner and the B777-300ER conversions support Cargojet’s international expansion and further strengthens the relationship between our two companies."
IAI has almost completed the prototype
The Israeli conversion specialist is presently working on its first Boeing 777-300ER P2F conversion. This world-first Boeing 777-300ERSF conversion will be completed soon and is destined for Kalitta Air in the first half of 2023.
The company has signed a number of conversion agreements with leading global airlines, including Emirates. In August, Simple Flying reported that Etihad will work with Israel Aerospace Industries on 777 conversions - this deal will see Etihad Engineering develop two conversion lines capable of completing multiple conversions each year.
Discover more aviation news with Simple Flying.
High demand for the 777-300ERSF
Along with its new Abu Dhabi facility, IAI set up additional conversion centers in Ethiopia and South Korea last year, suggesting plentiful demand for the 777-300ERSF program.
Boaz Levy added,
"We have been experiencing a rise in demand for converted cargo aircraft. The rise in e-commerce, coupled with the COVID-19 pandemic, has resulted in cargo aircraft becoming a central player in the world of aviation. IAI has decades-long experience in aircraft cargo conversions, and combines advanced technologies with its expert production capabilities in aviation to provide the best solution on the market."
The firm is working with aviation leasing giant AerCap, which will provide the aircraft for conversion and then lease them to cargo carriers.
Richard Greener, head of cargo at AerCap, recently revealed that the Boeing 777-300ERSF program has secured commitments for up to 50 aircraft, with new customers to be announced in the next six months.
What are your thoughts on the Boeing 777-300ERSF program? Do you see it becoming a success story? Let us know in the comments.