Air cargo customer service Kitty Hawk (OBB:KTHK), has signed a contract to lease seven Boeing 737-300SF aircraft from GE Capital Aviation Services (GECAS). Kitty Hawk will be the North American launch customer for the 737-300SF, the freighter version of one of the best-selling and most popular commercial passenger aircraft of all time.
Work to convert the passenger Boeing 737-300s to SF models (freighters) will be performed by Israel Aircraft Industries' (IAI) Bedek Division.
The first aircraft is scheduled to be delivered to Kitty Hawk in November 2004, with the balance of the order delivered through 2005, subject to FAA approval. The two pilot, twin-engine aircraft will be powered by CFM-56 jet engines. The lease term for the new aircraft will be 10 years, with extension options at the end of that term. Other financial terms were not disclosed.
For the present time, Kitty Hawk will continue to operate all of its 20 Boeing 727-200F aircraft, though some of those aircraft will be retired or returned to lessors in the future.
Kitty Hawk president and CEO Robert W. Zoller noted that Kitty Hawk was honored to be working closely with industry leaders GE Capital and IAI.
Fort Wayne, Indiana-based Kitty Hawk propvides scheduled overnight air freight transportation to approximately 60 cities across North America, including Alaska, Hawaii, Toronto, Canada and San Juan, Puerto Rico.
Published by Globes [online] - www.globes.co.il - on Thursday, May 06, 2004