This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Boeing Completes MD-11 Freighter Transition To AV Cargo

SEATTLE, Oct. 1, 2013 /PRNewswire/ -- Boeing (NYSE: BA) announced today that its aircraft leasing unit, Boeing Capital Corporation, has completed transition of two MD-11 Boeing converted freighters (BCF) on multi-year leases to U.K.-managed AV Cargo, which has begun service from the operator's base in Liege, Belgium, on routes primarily to West Africa.

Boeing delivered the first of the cargo trijets to the operator in May 2013. The second aircraft began revenue service recently.

AV Cargo will operate its MD-11 freighters into key Africa cities including Lagos, Nigeria; Bamako, Mali; Entebbe, Uganda; Port Harcourt, Nigeria; Pointe-Noire, Republic of the Congo; Freetown, Sierra Leone; and Pemba Island.

Originally MD-11 passenger aircraft, the BCFs feature an updated flight deck and cargo-handling system, better fuel efficiency and increased operating capabilities. The two aircraft wear the distinctive white- and blue-tipped tail livery of the new carrier, the successor to the former Avient Ltd.

Overall, Boeing has converted more than 100 MD-11s to freighters.

"MD-11 freighter conversion is a great move in terms of the aircraft's residual value that appeals to aircraft investors," said Frank Duckstein, Boeing Capital senior director of asset management. "Conversion extends the aircraft's useful life beyond its passenger service and, thanks to the superior economics and operating performance, it allows us to place into service a good cargo asset despite a soft market."

Neil Glover, AV Cargo managing director and co-founder, said: "This second delivery is an important milestone in our strategic business plan that will allow us to further penetrate and optimize our planned scheduled services, providing us with the necessary redundancy to ensure our customers with frequent and reliable services." "The MD-11 is the natural and logical choice to serve our niche market needs in the 65-95 tonne payload range, operating into some of the smaller and performance-challenging airports within Africa that preclude most other aircraft. The ergonomics combined with the current lease opportunities provide us with a real competitive advantage," Glover said.

Simon Clark, AV Cargo chief executive officer, said the operator's third MD-11 is expected to enter service in early 2014.

"It will reinforce our schedules services and significantly increase our ad-hoc charter capacity and complete phase 1 of our business plan," Clarke said.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,113.54 +61.81 0.36%
S&P 500 1,983.53 +9.90 0.50%
NASDAQ 4,456.0160 +31.3120 0.71%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs