SINGAPORE, February 11, 2020 — BBAM and Boeing [NYSE: BA] announced the lessor has ordered three 737-800 Boeing Converted Freighters (BCF), underscoring the growing e-commerce and express sector of the air cargo market. BBAM has one of the world’s biggest Next-Generation 737 fleets and has chosen the BCF program to convert three airplanes in its existing fleet.
“Through the Boeing freighter conversion program, these 737-800s will continue to deliver value for our customers and investors for many years to come,” said Steve Zissis, president and CEO of BBAM. “The 737-800 is an integral part of BBAM’s managed fleet of commercial passenger jet aircraft, and we see strong interest from our customers in the standard-body freighter. We chose Boeing’s conversion program because we believe it maximizes the platform’s capability and reliability.”
The 737-800BCF is built on the Next-Generation 737 platform, well known for its reliability and efficiency. The airplane carries up to 52,800 pounds (23.9 metric tons) of payload with excellent operating economics to maximize operators’ profits. Since entering service in 2018, the 737-800BCF has won 130 orders and commitments.
“BBAM is one of the world’s leading leasing companies, known for their smart approach to investment. We are delighted that BBAM has selected the Boeing Converted Freighter program to extend the life of their Next-Generation 737s and capture a new market opportunity in the years ahead,” said Ihssane Mounir, Boeing’s senior vice president of Commercial Sales and Marketing. “This agreement shows how we can serve our customers by delivering efficient and reliable airplanes and a portfolio of services that extracts value throughout the life of those jets.”
According to the Boeing Commercial Market Outlook, 2,820 freighters will enter the global fleet to meet market demand, including 1,220 standard-body passenger-to-freighter conversions. Responding to strong market demand, Boeing announced plans to add a 737-800BCF production line at Guangzhou Aircraft Maintenance Engineering Company Ltd. (GAMECO) this summer.
“Passenger-to-freighter conversions give us the opportunity to demonstrate our skill and expertise,” said GAMECO General Manager Norbert Marx. “Boeing Converted Freighters are the market leader – we are proud to partner with Boeing on this program.”