Bismillah Airlines, a small, all-cargo airline in Bangladesh, has agreed to lease two narrowbody Airbus freighters from Air Transport Services Group, which has made it a strategic priority to diversify business by leasing cargo aircraft to customers outside the United States, FreightWaves has learned.
ATSG (NASDAQ: ATSG) has leased an Airbus A321 converted freighter into Bangladesh, Chief Executive Rich Corrado said early last month during the TD Cowen Global Transportation Conference. Company officials declined to elaborate or identify the customer when contacted afterward.
A source close to the freighter leasing, operating and maintenance company said Bismillah Airlines has committed to lease two of the freighters, to be converted by 321 Precision Conversions, a joint venture between ATSG and an aerospace company that produces kits for converting used passenger aircraft into dedicated cargo jets.
The transaction fits with other publicly available information about Bismillah Airlines’ plans. The cargo operator, which is owned by the Mollah Group of Industries, recently told industry publication Cargo Facts that it is acquiring A321 freighters and expects delivery of the first aircraft by early next year.
Bismillah Airlines is one of six cargo carriers based in Bangladesh, but it doesn’t appear to currently have any aircraft under license. It once operated its own aircraft, including three Soviet-made An-12Bs, a Lockheed L-1011-1 and a Boeing 747-200. The new leases suggest the company, which could not be reached for comment, is preparing to resume service.
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