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New Opportunities in Passenger-to-Cargo Conversion
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Release date:
2024-03-20 14:20
The introduction of new aircraft models hasn’t significantly boosted the conversion of older planes from passenger to cargo use. However, with rising demand for air freight from emerging companies like Amazon, coupled with growing load factors and cargo volumes among existing carriers, the passenger-to-cargo conversion market is indeed witnessing new growth opportunities.
A few months ago, Mexicana MRO Services—a newly established company formed as a joint venture between Mexico Airlines and Bedek Aviation Group, the IAI subsidiary—successfully rolled out its first Boeing 767-300 converted cargo aircraft from its newly built retrofit production line. This collaboration has become a prime example of how partnerships can drive the next wave of growth in the global air cargo market.
Currently, the market demand for Boeing 767 passenger-to-freighter conversions is steadily increasing, further boosting activity at Bedek Aviation Group’s hangar operations at Tel Aviv’s Ben Gurion Airport. At the same time, the growing demand for passenger-to-freighter conversions is pushing Bedek Aviation Group to confront a critical bottleneck in production capacity. To address this challenge, Bedek Aviation Group has chosen to collaborate with Aeroméxico to expand its manufacturing capabilities.
While the Boeing 767 has long been a popular choice among air cargo carriers—particularly favored by express delivery companies like FedEx and UPS—the recent surge in demand for passenger-to-cargo conversions of this aircraft can largely be attributed to Amazon Air. By the end of 2017, Amazon Air, which had been operational for just two years, already boasted a fleet of 32 freighters, with plans to expand to more than 40 aircraft by 2019. All of the airline’s cargo planes are converted from passenger jets, sourced from ATSG (Air Transport Services Group), a transportation services group in which Amazon holds equity, as well as from Atlas Air.
Amazon Air's strategy to increase its cargo fleet is a positive sign for the market of Boeing 767 conversion aircraft. However, if there are too few passenger planes available for conversion into freighters, Amazon Air's procurement approach could even lead to a rise in orders for entirely new cargo jets.
ATSG operates Amazon's fleet of 20 Boeing 767 aircraft. The company revealed that it’s now receiving business inquiries not only from airlines but also from non-airline entities eager to join its cargo network—something that has never happened before. These companies, which already have established supply-chain processes, are now looking for a cutting-edge freight solution—moving away from traditional belly-hold cargo options or the need to purchase main-deck capacity altogether.
On a macro level, the freight market is increasingly driven by demand for specific aircraft types or innovative business strategies, marking a key growth trend as the air cargo industry continues its upward trajectory. According to data from the International Air Transport Association (IATA), global freight tonne-kilometers (FTK) grew by 9.7% year-on-year in the first 10 months of 2017—though month-over-month performance showed a steady decline. For instance, while March 2017 saw a robust 13.4% increase compared to the same period the previous year, October’s growth slowed to 5.9%. Still, this figure remained notably higher than both the average growth rate over the past five years (4.6%) and the 10-year average (3.2%). This is exactly what cargo airlines have been hoping to see. Meanwhile, passenger-to-cargo conversions are opening up new opportunities in the market.
keywords： Airplane,Operations
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