VALLAIR signs LoI with GlobalX to lease ten converted A321 freighters

posted on 21st October 2020 by Eddie Saunders
VALLAIR signs LoI with GlobalX to lease ten converted A321 freighters

VALLAIR,the mature aircraft and asset specialist, and launch lessor for the Airbus A321 freighter conversion (A321F), has signed an LoI (Letter of Intent) with US based Global Crossing Airlines Inc. (GlobalX) to lease ten converted A321 freighter aircraft in the most significant deal in the history of the A321F to take place within the air cargo industry. Vallair has been engaged in cargo conversions since 2015 and this ground-breaking agreement will see the Company take its pioneering A321 freighter programme to the next level. 

The first GlobalX A321 will be delivered by the third quarter of 2021. GlobalX expects all ten (10) A321F aircraft to be delivered and in revenue operation by the second quarter of 2023.

The COVID-19 pandemic has seen a surge in market demand for air cargo as operators struggle to fulfill the ever-increasing requirements of e-commerce. The A321F is the ideal candidate to satisfy this need due to the availability of feedstock, with around 1100 aircraft manufactured, and younger technologies utilised by the aircraft resulting in a fuel efficient, environmentally friendly freighter variant. On average, Vallair expects operators to see a 20% reduction in fuel burn per payload.