Vallair, the mature aircraft and asset specialist, and launch lessor for the Airbus A321 freighter conversion (A321F), has signed a Letter of Intent with Global Crossing Airlines Inc. (GlobalX) to lease ten converted A321 freighter aircraft.
The first GlobalX A321 will be delivered by the third quarter of 2021. GlobalX expects all ten A321F aircraft to be delivered and in revenue operation by the second quarter of 2023.
The COVID-19 pandemic has seen a surge in market demand for air cargo as operators struggle to fulfill the requirements of e-commerce. Around 1100 A321F aircraft have been manufactured, and younger technologies utilized by the aircraft have resulted in a fuel efficient, environmentally friendly freighter variant. On average, Vallair expects operators to see a 20% reduction in fuel burn per payload.
Vallair signed its first LoI for the A321F in August last year with Qantas Freight and saw the maiden flight of its prototype A321F take to the skies in February this year.
“The A321F is proving to be the aircraft of choice for cargo operators world-wide,” said Alistair Dibisceglia, Chief Leasing Officer at Vallair. “As well as offering a higher volumetric capacity, the lower cargo hold on the A321F allows for the transit of ten containers in addition to the fourteen cargo positions available on the upper cargo deck. This ability to offer containerised cargo is a real selling point for the A321F as it increases efficiency by reducing turn-around times and facilitates the weight and balance calculations.”
“The focus of this deal for Vallair has been to make the air cargo capacity available in the Americas and we are trusting that the very experienced management of GlobalX will be successful to maximise this opportunity,” said Gregoire Lebigot CEO of Vallair. “It is our intention that by providing the cargo capacity to a Miami based operator, we can pave the way for freight forwarders in Northern, Southern and Central America to meet the ever rising market demands for air cargo.”
“Over the next six months, we intend to secure aircraft contracts for both our current and future needs through to the end of 2022 and in agreeing this lease, Vallair has enabled us to achieve this – certainly from a freighter perspective,” said Ed Wegel, CEO of GlobalX. “Our focus has always been on utilizing the efficiencies of A320 family aircraft and these pioneering A321 conversions by Vallair have allowed us to extend this to our cargo capability. We are excited for the future and look forward a mutually beneficial partnership.”
Most recently, Vallair has agreed to lease two newly converted A321-200s to SmartLynx Malta.
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