Texas-based aircraft lease-finance specialist Spectre Air Capital received an initial order of 15 firm plus rolling options for 737-700 and 737-800 passenger-to-freighter conversions with Israel Aerospace Industries (IAI) and a launch order from Seoul Korea-based Air Incheon for three 737-800 freighters on long-term lease for delivery beginning in 2017.

Jordan Jaffe, Spectre’s CEO and co-founder, said, “Demand for express freighters is at an all-time high, with hundreds more required in the coming years to meet the demand created by rapid growth in e-commerce and expansion of the global middle class. The classic freighter feedstock is becoming increasingly scarce and overly expensive for their age. We intend to leverage our ability to purchase in fleet-sized transactions to offer next-generation freighters with attractive economics.

Spectre’s order means that 737-700 and 737-800 freighters will be available on a turnkey basis for lease and purchase to forward-thinking customers beginning from Q1/17 (-700F) and Q3/17 (-800F), with Spectre taking the attendant technical, financial and schedule risks inherent with aircraft acquisition and PTF modification programs such as these.”

Spectre’s large 737NG freighter commitment follows its 20-aircraft Boeing 767-300ER program collaboration earlier this year with aircraft trading partner Jetran, the majority of which will become freighters and be operated in support of e-commerce giants such as Amazon’s Prime Air and China-based Alibaba.

Spectre Cargo Solutions (SCS) is the freighter aircraft focused arm of Spectre Air Capital, a Texas-based aircraft trading and leasing company.