APOC and SmartLynx collaborate to purchase four A321 airframes for freighter conversions

APOC Aviation and SmartLynx Airlines Ltd. have worked together to purchase a package of four Airbus A321 airframes. The frames, MSNs 941, 961, 1185 and 1241, were acquired in passenger configuration and will be converted into freighters which will join the SmartLynx fleet early next year.

According to Jasper van den Boogaard, VP Airframe Acquisition & Trading at APOC, the Company was pleased to partner with SmartLynx to secure these assets. “We were quick to seize this versatile opportunity. Working closely with SmartLynx, the transaction has developed over the past two years and I’d like to thank their professional team for their continued commitment and confidence. Despite the constraints of COVID-19, we are very pleased to expand the business relationship between our two Companies.”

Van den Boogaard, who is an ISTAT Certified Appraiser, observes the fluctuations in aircraft asset valuations closely. He adds: “The A321 is an interesting asset because it can be converted to a freighter and there is significant activity in this sector of the market right now. It can also be used for low-cost/long-haul operations (because of its efficiency and range) and it is attractive for part out. The flexibility to utilise any one of these three options made this an exceptional opportunity for the business.”

Zygimantas Surintas, Smartlynx Airlines CEO, also emphasised that efficient partnerships like this are crucial for successful carrier’s involvement in the A321 conversion program.

“We are happy to cooperate with both the seller and APOC – the transaction was beneficial to all parties, for each in its own way. Acquiring four well-maintained sistership airframes was an important addition to the SmartLynx Airlines conversion chain, which begins with sourcing the right feedstock as a first step. Because of that, SmartLynx is becoming an active player in the secondary market of A321-200 airframes, as well as CFM56-5B and V2500 engine types. It is more than certain, that here developing solid relationships is the key.”

The four additional cargo aircraft will bring the airline’s A321F fleet up to fifteen (15) active aircraft of the type by mid-2023.

“We are continuing our growth strategy to be the biggest A321F operator in the world” adds Surintas. “Also, it is our commitment to the green environment as this type is using much less fuel than other cargo aircraft in its class.”

As 2022 progresses APOC seeks to establish its position as a narrowbody aftermarket specialist. “Not only are we in a position to help our airline partners balance their airframe and engine portfolios through the acquisition of asset packages and subsequent part-out of components, we can also support their in-service fleet via our innovative spares provisioning programmes,” he adds. “These days it helps to be nimble and forward-looking but you also need the reassurance of solid funding to complete deals, fortunately at APOC we can offer both.”

The A320 and B737 family aircraft APOC seeks are those equipped with the latest modifications so securing young vintage airframes is key to ensuring that the Company’s growing parts inventory, located at its stock hubs in The Netherlands, Singapore and Miami, can offer the most desirable. “Airlines using narrowbodies are ramping up operations now that the Summer season of 2022 is activated,” continues Van den Boogaard. “A large number of aircraft have now returned to service and we see a strong demand for passenger travel this month. We support both the entry into service of those aircraft but also any part they need during the hopefully very busy summer season.”