AirBridgeCargo Airlines (ABC) is set to take on another B747-8 freighter on long-term lease from US-based aircraft leasing company, Intrepid Aviation which acquired the new freighter from Boeing on 15 September.
This is the second of two new B747-8F aircraft that Intrepid acquired from Boeing and leased to ABC this year. Intrepid noted that the B747-8F is a unique aircraft distinguished by its nose loading capability, going on to say that the “747-8F will play a central role in the global logistics and supply chain for decades to come.”
This latest delivery is in keeping with the Volga-Dnepr group carrier’s plan to become an all-B747-8 Freighter operator over the next several years. The aircraft will enter service with ABC as it enjoys a very strong growth trajectory in 2017, with year-on-year cargo volume up over 15 per cent through July.
The aircraft was financed through Intrepid’s first Aircraft Finance Insurance Consortium (“AFIC”) backed financing for the B747-8 Freighter, arranged and underwritten by ING Capital LLC and Apple Bank. The transaction represents the first non-payment insurance backed financing ever closed by an operating lessor and further diversifies the Company’s banking group with the addition of ING Capital LLC.
Intrepid Aviation is a privately held commercial aircraft lessor based in the US with offices in Dublin and Singapore.