LCI increases freighter fleet and signs new deal with Turkey’s ACT Airlines

April 18, 2016

LCI, the aviation leasing arm of Libra Group, continues to increase its fleet of dedicated maindeck freighter aircraft. Two additional Boeing 747-400F aircraft are now flying for Qatar Airways and Saudia, Saudi Arabian Airlines, and are being operated by ACT Airlines, known as myCARGO Airlines, the Turkish wet-lease operator.

The two Pratt & Whitney-powered B747-400F aircraft have been acquired from Singapore Airlines Cargo. LCI has a third B747-400F which is currently on lease with the Singapore airline as well. ACT Airlines was founded in 2004. It was established by Turkish entrepreneurs and in 2011, China’s HNA Group joined ACT Airlines as a 49% minority shareholder. The Airline operates a fleet of eight B747-400F/ERF aircraft for its own operations as well as on behalf of other airlines.

Crispin Maunder, Executive Chairman of LCI, says: “We’re delighted to be working with ACT Airlines as it continues to expand its freighter operation. The demand for air cargo is beginning to show signs of revival again and LCI intends to play an important role going forward in this market, providing good quality dedicated freighters, such as factory-built Boeing 747-400F freighter aircraft, on lease to existing and new customers around the world.”

Since its inception in 2004, LCI has acquired fixed wing and rotary aircraft with a value of around US$6 billion. LCI’s 26-strong fixed wing fleet currently comprises a combination of Airbus, Boeing and Bombardier aircraft, both deployed and on order. LCI Helicopters has a fleet of 90 new helicopters, delivered and ordered, including the Finmeccanica AW139, AW169 and AW189, and Airbus Helicopters H175 and H225 – as well as the H225e for which it is a launch customer.

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