AIR CARG O WEEK
FREIGHTERS
F
PASSENGER-TO-FREIGHTER CONVERSIONS ENTER STRATEGIC PHASE
BY Edward HARDY T 08
“Each time the market has contracted and then recovered to resume its long-term growth trend.”
he pandemic-era surge in passenger-to-freighter (P2F)
aircraft conversions may have cooled, but don’t mistake the slowdown for a slump. Industry experts believe the P2F market is entering a more strategic, data-driven phase—one that reflects a longer-term shift.
“We’re not seeing a plateau—we’re seeing a recalibration,” says
Sebastien Podgorski, VP of Airline Solutions at WebCargo by Freightos, an end-to-end platform that connects all aspects of freight forwarding operations across air, ocean and ground transportation. “The volatility of the past five years has reminded everyone that air cargo is cyclical, but it’s also remarkably resilient.” According to Boeing’s World Air Cargo Forecast, the global air cargo
fleet is expected to grow by two-thirds to 3,900 aircraft by 2043. That growth includes more than 2,800 new and converted freighters, with around 1,800 of those coming from the P2F segment. “Boeing Converted Freighters play a central role in the growing
e-commerce and express cargo markets, delivering the capability, reliability and efficiency our customers need today and in the future,” says Andy Ishige, Head of Marketing for Freighter Conversions at Boeing. “Operators are eager to modernize their fleets and capitalize on the increased efficiency and reduced costs which current generation freighters offer versus their predecessors.”
A330 and 737-800 lead the way For Airbus, the A330—particularly well-suited for mid-haul, emerging markets like Asia Pacific to Latin America (APAC–LATAM)—offers right-sized capacity (about 60 tonnes) at lower operating costs than larger freighters. At Boeing, the 737-800BCF remains the backbone of regional and
express operations, dominating the standard-body space. “The 737-800BCF uses about 20% less fuel on a per tonne basis than
737 Classic freighters do, representing an opportunity for operators to further sustainability objectives and increase their profits along the way.,” notes Ishige. “It offers the volume, payload and range our customers need and it does so with superior operating efficiency and lower costs.” Boeing has delivered 192 737-800BCFs as of February 2025, with
more than 260 orders and commitments from over 20 customers. The company also recently marked the delivery of its 100th 767-300BCF, a widebody workhorse for longer routes with moderate demand.
Conversions vs retirement While the economics of conversion often look compelling, Podgorski warns that operators should view the decision as a business model commitment—not just a way to extend asset life. “If you’re deciding whether to convert or retire an aircraft, you may
not be serious about cargo,” he says. “Freightering is hard. You need operational scale, sales infrastructure, and execution.” Still, when supported by a solid commercial plan and strong trade- lane demand, conversions are often the smart move—particularly
ACW 09 JUNE 2025
www.aircargoweek.com
as feedstock aircraft values stabilize post-pandemic and new-build freighters remain capital intensive.
Driver of demand Perhaps the most dynamic force shaping P2F strategy today is geopolitics. As global supply chains reorient in response to tariffs, regional instability, and nearshoring trends, operators are leaning on converted freighters for agility. “Geopolitical tension isn’t just a headline—it’s a logistics factor,” says
Podgorski. “From U.S.–China trade dynamics to Red Sea disruptions, operators need to adapt fast. Conversions give them that flexibility.” Ishige agrees, noting that Boeing’s conversion programs are
designed to give customers a competitive edge in this evolving landscape: “From a long-term perspective, currently evolving trade policies will not fundamentally change our forecast. Our long-term view accounts for periods of market volatility.”
Correction, not contraction Both WebCargo and Boeing anticipate a steady, segmented P2F market over the next decade—not a dramatic contraction. “We anticipate continued demand for our current and future
freighter conversion offerings, with more than 1,800 converted freighters needed over the next 20 years to accommodate future growth. This includes 1,200 standard-body conversions like the 737- 800BCF and 600 widebody conversions such as the 767-300BCF,” Ishige stated. Podgorski sees a similar trajectory. “This isn’t the end of
conversions—it’s the end of opportunism,” he says. “The future belongs to operators who deploy converted freighters with purpose, supported by digital sales, route planning, and a clear commercial strategy.”
Freighters with purpose As global trade enters a more fragmented, fast-moving phase, the role of the converted freighter is evolving—from emergency fix to strategic asset. “We’re moving from fast decisions to smart ones,” says Podgorski. Boeing, with its robust conversion backlog and long-term market
forecast, is betting on a future where converted freighters remain a cornerstone of agile, resilient air cargo operations. “Looking at the last 25 years, the air cargo market has
demonstrated steady and resilient growth despite cyclicality and occasional disruptions, such as the Global Financial Crisis, US-China trade tensions in 2018, and COVID pandemic. Each time the market has contracted and then recovered to resume its long-term growth trend,” Ishige concluded. “The long-term incentives for global
trade endure. Consumers
want varied and affordable goods. Firms want the efficiencies of global supply chains. And diversified trade networks are the best way to achieve that. Air cargo will continue to play a critical role in facilitating that kind of exchange.”
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16
