CANADIAN airfreight carrier Cargojet has finalised a commitment to lease a Boeing 757-200F aircraft from San Francisco-based Babcock & Brown Aircraft Management (BBAM), a unit of investment and asset manager Babcock & Brown Limited.
The aircraft will be converted from passenger to freighter configuration by Precision Conversions. The freighter is tentatively scheduled enter service with Cargojet in the third quarter of 2008, a joint statement said.
"We have been actively pursuing opportunities to convert our B757s into freighters and this lease marks the third 757 that we have put through conversion, as well as the first one operating in Canada," said BBAM president Steve Zissis.
Said Cargojet president Ajay Virmani: "We are very excited to be the first Canadian air cargo operator to introduce this new generation, fuel-efficient and environmentally friendly aircraft to our fleet."
As a provider of time-sensitive overnight air cargo services, Cargojet currently operates a fleet of 20 cargo aircraft on routes across North America, transporting 840,000 pounds cargo on average each business night.
BBAM is an aircraft leasing company, with more than leased 290 Boeing and Airbus aircraft with 70 airlines worldwide. BBAM has 24 new Boeing 737-800s on order and its entire operational fleet is valued at approximately US$6 billion.
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