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TSG & Cargojet complete agreement for additional 767-200 freighter airlift

WILMINGTON, Ohio—Air Transport Services Group, Inc. said it has signed a new agreement with Cargojet to lease two 767-200ER freighters.

Cargojet currently dry-leases two Boeing 767-200 freighters from ATSG’s subsidiary Cargo Aircraft Management Inc. (CAM) under long-term agreements. Cargojet has signed agreements to dry-lease an additional two Boeing 767-200 freighters from CAM, for up to three years. The first aircraft is expected to be delivered by the end of the second quarter, with the second aircraft delivering early in the third quarter, said a release.

“This agreement reflects ATSG’s leadership in the 767-200 freighter market and our ability to quickly react to meet the needs of expanding cargo airlines like Cargojet,” ATSG President and CEO Joe Hete said. “Cargojet will be putting these aircraft to work quickly. Our long term relationship with them, and prior experience in leasing these aircraft-types into Canada, will provide more rapid into-service capability.”

“Cargojet is currently in the process of a fleet renewal plan. Leasing these two additional 767-200 freighters is part of our current growth strategy to continue to meet our customer’s requirements and needs,” said Ajay Virmani, President and CEO of Cargojet. “The 767-200 freighters were introduced to our fleet in 2008. These aircraft have provided our network with efficiency and reliability, allowing Cargojet to be the most dependable air cargo service provider in Canada.”

 “It’s gratifying when a satisfied customer like Cargojet expands their business with us by taking additional aircraft. We now expect 23, or over half of our 767 freighters, to be operating under long-term dry leases with external customers by the end of the third quarter this year, and the remainder being leased by ATSG subsidiary airlines,” said CAM President Rich Corrado said.