CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing, reached an agreement with Mexico-based MasAir Cargo Airline for the lease of two Airbus A330-300 passenger-to-freighter (P2F) aircraft, marking the lessor’s first-ever lease transaction with an airline operator for the aircraft type.

The A330 P2Fs on long-term lease to MasAir Cargo Airline represent the first two positions from CDB Aviation’s agreement with Germany-based EFW for the aircraft type’s conversion, which was announced in November 2020. The aircraft are scheduled to deliver to MasAir during the first half of 2022.

“We are thrilled to welcome MasAir as the newest member of our growing customer base in Mexico and the Americas,” Peter Goodman, chief marketing officer for CDB Aviation, said. “With the increasing demand for express air cargo driven by robust e-commerce activity, our A330 P2Fs will deliver the desired combination of capacity and operating economics to support MasAir’s expansion plans, equipping their fleet to effectively cater to the needs of the expanding e-commerce infrastructure.”

“The A330-300 P2Fs from CDB Aviation will provide bigger capacity and efficiency, marking the continued process of MasAir on becoming a global player in the air cargo arena,” Luis Sierra, CEO of MasAir Cargo Airline, said. “Adding these two A330s to the two A330-200s we agreed to lease last month, we continue the path of growing our fleet with more efficient and longer-range aircraft.”

“The medium widebody freighter segment, served nowadays by aging twin-jet aircraft, is poised for growth with the need for a new generation of medium widebody freighters,” Patrick Hannigan, CEO of CDB Aviation, said. “Our decision to enter the A330 P2F conversion market was motivated by the potential of this asset.”

“We are very glad to have MasAir on board becoming the first A330-300 P2F operator in the Americas in 2022,” Dr. Andreas Sperl, CEO of EFW, said. “The A330 P2F is considered as very popular, especially for the express cargo market, as it is a wide body program with great capacity offering, more cargo volume and lower cost-per-ton than other available freighter aircraft types with a similar range.”

CDB Aviation expects the A330-300 P2F to bring next generation technology and efficiency to the segment, offering more volumetric space than older freighters in this category. This aircraft also can slot into the fleets of A320, A330 and A350 operators.

“We are delighted to see MasAir strengthen their position on the A330 freighter by committing to the A330-300 P2F. This new addition to their fleet will also allow MasAir to benefit from the unique Airbus commonality with the proven technologies of the A330 family, such as fly-by-wire,” Arturo Barreira, president of Airbus Latin America, said.

“As a major lessor of passenger A330s, we are at the forefront of the industry, leveraging the capabilities of this highly efficient aircraft to offer our customers the next generation of medium widebody freighters, which will enable them to meet cargo demand near-term and into the future,” Hannigan said.