World Air to lease three converted 747-400 freighters

World Air to lease three converted 747-400 freighters

   World Air Holdings Inc., parent company of World Airways and North American Airlines, Monday signed a letter of intent to lease for a period of seven years three Boeing 747-400 Special Freighter aircraft. No financial details were disclosed.

   The planes, formerly operated by United Airlines as passenger aircraft, will be converted to freighters prior to delivery to World Air from June 2008 through May 2009.

   “This is a significant milestone for our company, as we have been looking for some time to expand our product offering in the growing air cargo market,” said Jeff MacKinney, World Air Holdings’ president. “We believe the 747-400 freighter is, and will continue to be, a vital component of the international air freight market, particularly to and from markets in Asia. These aircraft will allow us to continue to build our ACMI cargo business, where we have seen solid growth and new long-term contracts with our existing MD-11 freighter fleet.”