GlobalX signs up for five more A321 conversions
Global Crossing Airlines (GlobalX) has signed a Letter of Intent (LOI) to lease additional Airbus A321 Passenger-to-Freighter (P2F) aircraft.
The American company has signed the letter of intent to lease five A321s with the aeronautical asset management unit of ST Engineering.
In October, GlobalX signed a letter of intent to rental of 10 converted Airbus A321 freighters from the asset management specialist Vallair.
ST Engineering will acquire the five Airbus A321 passenger aircraft, either alone or through its joint ventures, and will finance these aircraft through a combination of equity and non-recourse debt.
These aircraft will be converted and serviced at ST Engineering’s global facilities, with the first A321 aircraft scheduled to be converted in April 2022 and leased in the fourth quarter of 2022.
The remaining four P2F aircraft will be gradually converted and leased to GlobalX.
Ed Wegel, President and CEO of GlobalX, said: “We are extremely pleased and honored to be working with ST Engineering on our game changing A321P2F fleet in the air cargo industry. We look forward to working closely with ST Engineering, a world-class solution provider in the field of aircraft maintenance and freight aircraft conversion, and beyond as we grow GlobalX. . “
Yip Hin Meng, Executive Vice President and Head of Aviation Asset Management, ST Engineering, said, “We are delighted to be able to support GlobalX as it enters the growing air cargo market with our solutions. end-to-end aviation asset management. . “