Boeing secures lessor order for 767 passenger-to-freighter conversion

Boeing has secured a lessor order for a 767-300 passenger jet to be converted into a freighter for Icelease, which also holds options for up to two additional conversions. Icelease, formed 20 years ago as the leasing arm of Icelandair, will own or purchase the three 767s and deliver them to ST Engineering for retrofitting. The conversion is expected to take place in the first quarter of 2027, with the converted aircraft to be delivered in the second quarter.

Sigthor Einarsson, managing partner of Icelease, stated that this agreement with Boeing marks a significant milestone for both companies. The Boeing 767-300 converted freighter will join Icelease's expanding managed cargo aircraft portfolio, which already includes seven Boeing 737-800BCF and other freighters leased to various customers.

Some of these B737-800 converted freighters are currently leased to ASL Aviation Holdings, operating several airlines in Europe and Australia, and Tianjin Air Cargo in China. The 767-300 is the most popular medium widebody converted freighter, boasting a range of 3,300 nautical miles and a 57 metric ton payload. Global demand for widebody freighters remains high as cargo volumes surge, airlines adapt to long detours due to wars, and many large freighters are retired.

However, the availability of passenger 767s for conversion is dwindling, with carriers gradually shifting towards converting Airbus A330-300s to meet future replacement and growth needs.