FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--GA Telesis, LLC (“GAT”) announces four additional firm orders for 737-800SF freighter conversions with Aeronautical Engineers, Inc. (“AEI”). The contract was executed by GAT’s LIFT (Leasing, Investments, Finance & Trading) Group. The first of the two originally contracted passenger-to-freighter ("P2F") conversions was completed in March and delivered to Ethiopian Airlines. The second freighter aircraft is expected to be completed in May 2021.
The additional order will be comprised of three conversion slots in the second half of 2021, with the remaining conversion slot reserved for early 2022. All work will be performed by authorized AEI Conversion Center, Commercial Jet, in Dothan, Alabama. LIFT will continue to evaluate additional 737SF slots and other freighter aircraft models to support the global air cargo industry's expanding main deck freighter needs.
“We are very pleased with the response from the air cargo market since signing our initial commitment almost a year ago, and we will continue to invest in our conversion strategy to support cargo airlines worldwide,” commented Marc Cho, President of the LIFT Group.
“The Asset Transaction Group (ATG) continues to see multiple opportunities to grow our 737-800SF portfolio, and the GA Telesis Ecosystem™ continues to deliver value across the platform that differentiates us from other freight lessors,” said David Ellis, Sr. Vice President, ATG. "Our ability to provide spares support, engine, APU, leasing, and contributions from our various MROs add significant value to our customers, beyond what many of our competitors can offer," added Ellis.
About GA Telesis
GA Telesis is the leading provider of integrated services in the commercial aviation industry. Through the GA Telesis Ecosystem™, the Company is distinctly positioned, across six continents, to leverage its resources to create innovative solutions for its customers. Consisting of global operations encompassing leasing/financing, component solutions, and MRO Services business units for landing gear, component/composite, and turbine engine repair, as well as digital solutions, the GA Telesis Ecosystem™ provides an unparalleled resource to airlines. The Company’s core business is its mission to ensure “Customer Success,” built from a reputation for unsurpassed excellence and integrity.
About Leasing, Investments, Finance & Trading (LIFT)
LIFT is GA Telesis’ multi-strategy aviation platform comprised of three operating groups: Asset Transactions (ATG), Capital Management (CMG), and Leveraged Finance (LFG). LIFT specializes in aircraft and engine leasing and trading, asset-based finance, structured credit, investment management, and asset management and remarketing.
About AEI
Aeronautical Engineers, Inc. (AEI) is a global leader in the aircraft passenger-to-freighter conversion business and is the oldest conversion company in existence today. Since the company’s founding in 1958, AEI has developed over 130 Supplemental Type Certificates (STCs) and has modified over 510 aircraft with the STCs. AEI helps its customers extend aircraft life and increase the overall value of aircraft assets by continuously focusing on dependable and flexible product offerings. AEI currently offers passenger-to-freighter conversions for the Boeing 737-800, 737-400, 737-300, MD-80 series, and CRJ200 aircraft. www.aeronautical-engineers.com.
