Cyprus-headquartered AviaAM Leasing has detailed plans to grow its converted freighter fleet to 25 aircraft within four years.

AviaAM said the conversions will span “different types.” No specific details of the fleet mix were given. The company already has 10 737-800 cargo conversion slots booked with Boeing, three of which have been completed. The remaining seven are scheduled for conversion in 2022-2023.

AviaAM’s owned fleet comprises one 747-400F, three 777-300ERs, three 737-800s, one 737-300, three Airbus A321-200s, 10 A320-200s, one A319-100, eight CRJ200LRs and two CRJ200LR business jets.

Over the past five years, AviaAM has secured over $2 billion in investment and completed more than 150 aircraft transactions.

News of AviaAM’s cargo ambitions came on Feb. 21, after the lessor announced the placement of a second Boeing 737-800BCF with Iceland-based cargo carrier Bluebird Nordic.

Bluebird Nordic is a sister company to AviaAM, with both forming part of aerospace services firm Avia Solutions Group. 

“The strategic synergy between AviaAM Leasing and Bluebird Nordic allows the lessee to continue accomplishing ambitious expansion plans,” AviaAM said. Bluebird Nordic currently operates one 737-300, seven 737-400s and two 737-800 full-freighter aircraft. 

This latest Bluebird Nordic-bound 737-800BCF aircraft was converted by Boeing at the Guangzhou Aircraft Maintenance Engineering Company (GAMECO) facility in Guangzhou, China.

Recently, Latvia-headquartered wet-lease and cargo operator SmartLynx outlined its intent to become the largest operator of A321 freighters, after ordering six conversions from Elbe Flugzeugwerke GmbH (EFW). ST Engineering and EFW are expanding their conversion capacity across all Airbus P2F programs to about 60 slots per year by 2024.