Precision and ATSG Announce Joint Venture for Passenger-to-Freighter Conversion of Airbus A321-200 Aircraft
August 07 2017 - 9:15AM
Business Wire
Precision Aircraft Solutions, LLC (PAS), a wholly owned
subsidiary of Erickson Group Ltd. (EGL) of Beaverton, Oregon, and
Air Transport Services Group, Inc. (Nasdaq: ATSG) through its
subsidiary Cargo Aircraft Management, Inc. (CAM) of Wilmington,
Ohio, today announced the formation of 321 Precision Conversions,
LLC, a joint-venture company to develop a passenger-to-freighter
conversion of Airbus A321-200 aircraft.
321 Precision Conversions, LLC anticipates approval of a
supplemental type certificate (STC) for A321-200 conversions in
2019. PAS began feasibility analysis for A321-200 conversions in
late 2011. Full-scale engineering for STC development began in the
third quarter of 2016.
The 321 Precision Conversions’ A321-200 freighter will provide a
best-in-class solution, fulfilling both replacement and growth
needs in the narrowbody freighter market. It will deliver cube
space that is commensurate to Boeing 757 freighters, and low
operating costs comparable to smaller Boeing 737 freighters, making
it an attractive platform for air express network operators.
Additional details and information about the A321-200 conversion
will be released at the Cargo Facts Symposium in Miami, Florida,
October 2–4, 2017.
The A321-200 is a variant of the Airbus A320 family of aircraft.
The first A321-200 entered service in 1997 as a longer-range
successor to the A321-100. As of July 30, 2017, a total of 1,425
Airbus A321-200 passenger aircraft are in service.
PAS and ATSG have a long-term relationship. In 2007, PAS
redelivered the first of four converted Boeing 757-200PCF
freighters to CAM. In 2011, PAS developed, certified and produced a
Boeing 757-200PCC combined passenger/freighter (combi) variant for
CAM. All of those CAM-owned B757-200 aircraft are operated by CAM’s
sister company Air Transport International, Inc.
EGL President Steven J. Thomas commented, “Precision’s
integrated business model is capable of both the engineering and
certification required for an A321-200 freighter STC, and the
kitting, logistics, production and customer support functions to
deliver a multiple aircraft program to all its customers. This
strategic alliance with ATSG for the A321-200 program underscores
our complementary business models and our long history of positive
business dealings over the years. We look forward to bringing this
product to the market together.”
ATSG President and CEO Joe Hete said, “ATSG’s emphasis on
leasing, operating, and maintaining midsize freighters has been a
key to its success. Expanding our fleet to include A321-200
freighters in that segment of the market through this new
partnership with Precision will supplement the shareholder value we
create in the future. Our decade-long relationship with Precision
for 757 conversions gives me confidence that we will bring to
market another high-quality, cost-effective freighter and reliable
asset to a customer segment that demands very high
performance.”
About Air Transport Services Group
ATSG is a leading provider of aircraft leasing and air cargo
transportation and related services to domestic and foreign air
carriers and other companies that outsource their air cargo lift
requirements. ATSG, through its leasing and airline subsidiaries,
is the world's largest owner and operator of converted Boeing 767
freighter aircraft. Through its principal subsidiaries, including
two airlines with separate and distinct U.S. FAA Part 121 Air
Carrier certificates, ATSG provides aircraft leasing, air cargo
lift, aircraft maintenance services and airport ground services.
ATSG's subsidiaries include ABX Air, Inc.; Airborne Global
Solutions, Inc.; Air Transport International, Inc.; Cargo Aircraft
Management, Inc.; and Airborne Maintenance and Engineering
Services, Inc. including its division, PEMCO World Air Services,
Inc. For more information, please see www.atsginc.com.
About Precision Aircraft Solutions
Precision Aircraft Solutions is an aerospace major modification,
products, and services company. They earned their stripes as
Precision Conversions, performing 757 freighter and combi
conversion for industry-leading companies, including SF Airlines,
DHL, Air China Cargo, and ATI. Precision’s 757 freighter
conversion, the 757 PCF, and their 757 combi conversion, the 757
PCC, are unparalleled in their fields. Precision offers not only
conversion expertise, but also a full complement of integrated
aircraft services. Airlines, OEMs, MROs, and leasing companies
around the globe choose Precision for quality response, quick
turnaround, economical pricing, and scalable solutions. For more
information, please see www.precisionaircraft.com
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version on businesswire.com: http://www.businesswire.com/news/home/20170807005084/en/
321 Precision Conversions and Precision Aircraft SolutionsGary
Warner, President, 503-601-3001orATSG Inc.Quint O. Turner, Chief
Financial Officer, 937-366-2303
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