ATSG - Cargo Airline Sends New Boeing 767 Freighters Directly to Storage | Benzinga
The decision represents the latest case of an all-cargo airline throttling back on fleet expansion plans made during the COVID crisis when a shortfall in shipping capacity sent rates through the roof and made freighters valuable assets.
Northern Air Cargo, which serves communities in Alaska from its base in Anchorage, lost $12 million in the 12 months ended Sept. 30, according to data on airline performance metrics compiled by the U.S. Bureau of Transportation Statistics.
The idled cargo jets wear the brands of sister companies Aloha Air Cargo and Miami-based StratAir. Northern Air Cargo operates planes on behalf of both businesses.
The three companies are part of privately held Saltchuk, a diversified freight transportation, logistics and energy distribution conglomerate based in Seattle. In 2021 and 2022, Saltchuk's leasing subsidiary bought seven used Boeing 767-300 passenger jets and has been sending them to Boeing partner sites in China and Singapore to modify into main-deck freighters for the cargo airlines.
NAS Aircraft Leasing Co. (NALC) received two 767-300 converted freighters from Boeing in January and April and moved them to a storage facility until market conditions improve, Saltchuk spokeswoman April Spurlock said in an email message.
Aircraft tracking site Flightradar24 shows the planes are being stored in the desert at Roswell Air Center in New Mexico.
"Throughout 2023 and 2024, the global air cargo market has experienced elevated costs and shifting market dynamics which has led to depressed pricing and cargo yields. Due to this ...