ATSG signs new Boeing 767 freighter lease agreement with Air Incheon

Air Transport Services Group has announced the signing of a new lease agreement with Air Incheon for one Boeing 767-300 converted freighter and an option for a second, both for 2018 delivery, along with the expansion of its dry-leased 767-300 freighter fleet with three deliveries in November. The company said that its ATSG West Leasing Limited subsidiary in Ireland has committed to lease one converted Boeing 767-300 freighter to Air Incheon of South Korea for a multi-year term anticipated to commence on March 31, 2018. ATSG West Leasing has also granted Air Incheon an option to lease a second 767-300 freighter for delivery later in 2018. Air Incheon currently operates two Boeing 737 freighter aircraft from its base in Seoul Incheon International Airport. A third 737 is undergoing passenger-to-freighter conversion via a contract with PEMCO, a division of ATSG’s Airborne Maintenance and Engineering Services (AMES) subsidiary.
In November, ATSG’s Cargo Aircraft Management subsidiary completed delivery of three converted 767-300 freighters under multi-year dry-lease agreements, one each to Cargojet, Northern Aviation Services, and Amerijet. ATSG holds lease commitments for six of the eight 767s it currently expects to deliver through September 2018.