Fleet Plan News: ACT Airlines to acquire 747-400 and 767 freighters, rebrand as MyCargo

HNA Group of China, and Hong Kong based Bravia Capital have announced the joint acquisition of “a significant minority stake” (believed to be 49%) in ACT Airlines of Turkey. ACT currently operates international contract and ad hoc charters and offers ACMI, wet and dry leasing services with a fleet of six Airbus A300B4(F) freighters from Istanbul’s Ataturk International Airport. Following the Chinese investment, ACT will join HNA’s huge logistics arm, Grand China Logistics Group (GCL), which has total assets of over $7 billion. The Group’s cargo airline, Yangtze River Express, operates four Boeing 747-400s and 10 Boeing 737-300 freighters. GCL’s growth plan includes orders, already placed, for "2 A330s for GCL and 7 B777 freighters”. Yangtze River Express currently has five Airbus A330F freighters on order through lessor BOC Aviation for delivery in 2012 and 2013. ACT is now planning to acquire its first Boeing 747-400 and 767 freighters for use on both its network charter and ACMI operations. Separately, reports suggest that ACT has acquired two former ANA All Nippon Airlines Boeing 747-400s, the first of which is undergoing cargo conversion at IAI Bedek's facility in Tel Aviv. No date was given for the name change to MyCargo, but it is thought to be imminent.

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