Guggenheim aviation group to lease converted 747s
Boeing Co. will convert four passenger 747-400 trade-ins to freighter planes for Guggenheim Aviation Partners, an aviation investment firm formed in partnership with Guggenheim Capital earlier this year.
A Boeing subcontractor will convert planes between 2006 and 2009 and Guggenheim will make the first plane available in 2007, the Chicago-based aircraft manufacturer said.
Several airlines have signed up for second-hand freighters or modification kits since Boeing launched its 747-400 Special Freighter conversion one year ago to take advantage of growing demand for air cargo.
In its first deal, Guggenheim Aviation leased an MD-11 to Martinair in the Netherlands.