ATSG to buy three Boeing 767-300s from Qantas

Air Transport Services Group (ATSG) said that its Cargo Aircraft Management (CAM) subsidiary has committed to purchase three Boeing 767-300-series extended-range aircraft from Qantas Airways and anticipates to take delivery in the third quarter.

ATSG announced on May 10 that CAM had executed a letter of intent for the purchase of the passenger-configured aircraft. All three are Boeing 767-338ER aircraft, equipped with General Electric CF6-80C2-B6 engines. When converted into standard freighters, they are expected to have a range of approximately 3,255 nautical miles, and a maximum payload of approximately 120,000 pounds.

ATSG said that it will soon complete arrangements for modification of the three aircraft into full freighters, with a goal of deploying the first of the 767-300s in the first half of 2011 on a leased or ACMI basis.

Depending on the terms of a modification agreement, ATSG expects that its total cost to purchase and modify each of the three aircraft to full freighter configuration will compare favourably with current market values for similar converted 767-300ER freighters. Those market values range from $28.5 million to $31.5 million, according to Air Cargo Management Group.

ATSG will finance the purchases and modifications from existing credit facilities, and expect to deploy the aircraft at attractive returns on invested capital.
(Source:www.cargonewsasia.com)