Summary
- Amerijet returns six 757-200PCFs, but two are still energetic. Aircraft are expected to enter storage after completing current routes. (100 characters)
- Amerijet switched to widebody-only fleet and hired recent CEO, Joe Mozzali, to navigate cargo industry turbulence. (100 characters)
- Industry struggles with drop in demand and inflation-related price fluctuations. Amerijet grows cargo volumes by 8% with 10% fewer block hours. (100 characters)
Florida-based Amerijet will proceed its operations with a widebody-only aircraft fleet after returning its six 757-200PCFs back to their respective lessors. The news comes after the corporate accomplished a restructuring process and infused nearly $55 million of latest capital from the airline’s existing lenders.
Rumors across the grounding of Amerijet’s six 757-200PCFs first began circulating in November after a leaked internal memo indicated that the cargo airline needed to park a few of its freighters on account of money flow problems inside the airline. As of December tenth, two of Amerijet’s 757-200PCFs were parked in storage at Marana (MZJ), while two of the airline’s 767s were parked at MROs. As of press time, two other 757-200PCFs had made their technique to MZJ to affix their sister ships on December twenty eighth and twenty ninth.
The three Boeing 757-200 converted freighters will support Amerijet’s expansion. Photo: Amerijet
Nevertheless, despite their statement announcing the return of the aircraft to their lessors, as of January twelfth, two of the fleet, N192AN and N193AN, were still energetic, flying to Baltimore (BWI) and San Juan (SJU), respectively, in response to Flightradar24. Each aircraft are expected to enter storage after completing their current routes.
757’s history with Amerijet
The six 757-200PCFs began joining the fleet in June 2021 after being converted by Precision Aircraft Solutions. The 757 converted freighter takes advantage of the 757’s notoriety for having loads of power to spare and might lift as much as 84000 lbs, in response to Precision Aircraft Solutions. Precision Aircraft Solutions has recently begun converting A321-200s as the provision of feedstock 757s for conversion has dwindled.
Amerijet originally took on the 757 as a substitute for its 727Fs. Amerijet has utilized the Boeing trijet on routes from Florida to Latin America and the Caribbean. Along with the 757-200PCFs, the airline shed one among its 767Fs from its fleet in March 2023.
Despite the loan for the $55 million to remain afloat, the cargo airline’s restructuring also included layoffs for non-pilot positions. Amerijet didn’t reply to press inquiries for more details on this matter. The airline, nevertheless, has hired the Chicago-based legal team Sidley Austin LLP, and a D.C.- based FTI Consulting, a bank that focuses on restructuring.
The cargo industry turbulance
The choice to change to a widebody-only fleet occurred three months into the tenure of Amerijet’s recent CEO, Joe Mozzali, who stepped in as Chief Executive Officer following the departure of Tim Strauss. Mozzali previously served as the corporate’s Chief Financial Officer for a seven-month period.
Amerijet is not the only company within the air cargo industry that’s struggling. 2023 had been a lackluster yr for rates and volumes because the industry has struggled with the drop in demand related to the return of belly capability in passenger aircraft and inflation-related price fluctuations. Based on an Ameriflight statement, the airline had begun to grow its cargo volumes flown by 8% with 10% fewer flown block hours.