- Amerijet will soon become a wide-body only freighter operator, returning its aircraft to their lessors.
- Struggling Amerijet Bins The Boeing 757 To Become 767 Only Operator
Florida-based Amerijet will continue its operations with a widebody-only aircraft fleet after returning its six 757-200PCFs to their respective lessors. The news comes after the company completed a restructuring process and infused nearly $55 million of new capital from the airline’s existing lenders.
Rumors around the grounding of Amerijet’s six 757-200PCFs started circulating in November after a leaked internal memo indicated that the cargo airline needed to park some of its freighters due to cash flow problems within the airline. As of December 10th, 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 way to MZJ to join their sister ships on December 28th and 29th.
However, despite their statement announcing the return of the aircraft to their lessors, as of January 12th, two of the fleet, N192AN and N193AN, were still active, flying to Baltimore (BWI) and San Juan (SJU), respectively, according to Flightradar24. Both 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. According to Precision Aircraft Solutions, the 757 converted freighter takes advantage of the 757’s notoriety for having plenty of power to spare and can lift up to 84000 lbs. Precision Aircraft Solutions has recently begun converting A321-200s as the supply of feedstock 757s for conversion has dwindled.
Amerijet initially took on the 757 as a replacement for its 727Fs. Amerijet has utilized the Boeing trijet on routes from Florida to Latin America and the Caribbean. In addition to the 757-200PCFs, the airline shed one of its 767Fs from its fleet in March 2023.
Despite the loan for the $55 million to stay afloat, the cargo airline’s restructuring also included layoffs for non-pilot positions. Amerijet did not reply to press inquiries for more details on this matter. The airline, however, has hired the Chicago-based legal team Sidley Austin LLP, and a D.C.- based FTI Consulting, a bank that specializes in restructuring.
The cargo industry turbulence
The decision to switch to a widebody-only fleet occurred three months into the tenure of Amerijet’s new CEO, Joe Mozzali, who stepped in as Chief Executive Officer following the departure of Tim Strauss. Mozzali previously served as the company’s Chief Financial Officer for seven months.
Amerijet is not the only company in the air cargo industry that is struggling. 2023 had been a lackluster year for rates and volumes as the industry has struggled with the drop in demand related to the return of belly capacity in passenger aircraft and inflation-related price fluctuations. According to an Ameriflight statement, the airline had begun to grow its cargo volumes flown by 8% with 10% fewer flown block hours.
