Cargojet Airways (W8, Hamilton, ON) has increased its B777 commitments during the course of this year with six converted freighters secured thus far.
In its 4Q21 earnings release, the Canadian cargo carrier said that in February, it executed agreements for the purchase and conversion of two B777-200s with expected delivery dates of 3Q24 and 4Q24. It also entered into purchase/conversion contracts for four B777-300s with expected delivery dates of 3Q24, 3Q24, 2Q25, and 1Q26.
"The B777s have been added based on our ongoing discussions with customers, we look at the ongoing demand that's going on and the back-up is like if we have two or four extra planes, there's sufficient demand to even dry lease these if we need to. So we have back-up plans after back-up plans. These are not just back-up aircraft," Ajay Virmani, President and Chief Executive Officer, said in the call.
It is recalled that in November last year, Cargojet ordered two B777-200(LR)(MF) converted freighters from Mammoth Freighters, with options for a further two B777-200(LR)(MF)s and two B777-300(ER)(MF)s.
