Israel Aerospace Industries (IAI) has signed an agreement with Avolon to convert A330-300 aircraft from passenger to freighter configuration for the leasing company.

IAI will convert 30 Airbus A330-300s between 2025 and 2028. Avolon becomes IAI’s first customer for cargo conversions of the aircraft model.

Avolon said it would “fully take part” in the aircraft conversion and licensing process.

The converted A330-300s will increase cargo volume capacity with up to 27 main deck pallet positions, and offer improved cargo loading capacity through a different cargo door placement.

“For the second time in recent years, IAI’s Aviation Group is making history,” said IAI’s president & CEO Boaz Levy. “Just two years ago we announced that we will be the first in the world to perform a passenger-to-freighter conversion on the 777-300ER, and today we are announcing that we will perform the first cargo conversion for the Airbus A330-300 aircraft. IAI has proven time and again its leading position as the powerhouse of cargo conversions globally. I am grateful to our partners at Avolon for their faith in our abilities.”

Avolon’s CEO Dómhnal Slattery commented: “We have identified IAI as a long-time global leader in the aircraft conversion business and the right partner for Avolon to capitalise on the unparalleled growth in e-commerce. The global air freight market is worth over US$150 billion annually today and the sector is transforming, with the air cargo traffic expected to double over the next 20 years. This partnership with IAI signals Avolon’s intention to be a leading player in the expansion of the cargo aircraft industry.”