ATSG West Leasing, an Air Transport Services Group (ATSG) subsidiary based in Ireland, has acquired and will lease two Boeing 737-400 aircraft to China-based Okay Airways in late 2017 for terms of seven years. PEMCO World Air Services, another ATSG subsidiary, will convert the 737-400s to freighters this summer at its Tampa International Airport facility.
Brad Heath, managing director of ATSG West Leasing, said, “We are very pleased to acquire, convert and lease these aircraft into the air express market in China. This initiative leverages the core capabilities of PEMCO, ATSG West Leasing and of our strategic partners in China.”
Okay Airways will operate the aircraft in support of its express services for e-commerce and other companies in the domestic China market. ATSG, Okay Airways, and Tianjin Dongjiang Investment holdings, a Tianjin government affiliate, are establishing a joint venture company to support the growing e-commerce market there.