Vallair leases Boeing 737-700 to Indian operator SpiceJet

Aircraft lessor Vallair has completed a long-term lease agreement with SpiceJet of India for a Boeing 737NG which will be converted into a freighter.

The aircraft which was previously operated by TUI and purchased from GEXX and is one of a number of Boeing aircraft that Vallair has recently purchased for cargo conversion.

As part of Vallair’s developing service and ongoing support for the carrier the intention is that it will return to Vallair after SpiceJet’s commercial lease has expired.

The aircraft will then form part of the organisation’s developing P2F programme, before reverting to SpiceJet for operation as a freighter.

SpiceJet operates a dedicated air cargo service under the brand name SpiceXpress offering cargo connectivity across India and on international routes. SpiceJet is the first Indian airline to offer end-to-end cargo services and the airline’s freighter fleet consists of Boeing 737 aircraft.

The SpiceJet passenger airline has made flying affordable for more Indians than ever before. It operates 416 average daily flights to 57 destinations, including 49 domestic and eight international routes. The airline connects its network with a fleet of 37 Boeing 737 MAX and NG jets and 23 Bombardier Q-400s.

Vallair head of cargo conversions business unit at Vallair, Peter Koster said the company’s focus on leased cargo converted assets as it follows its growth strategy. “Vallair takes a long-term view with our leased assets, we are carefully building a portfolio of Airbus and Boeing commercial aircraft that will form the bedrock of our cargo conversion programme.

“As these mature aircraft come to the end of their operational leases agreements we will extend the life of these assets in the most economically beneficial way through the creation of cost-effective and flexible cargo lease options that meet a diverse range of air freight needs.”