GLOBALX has signed a Letter of Intent (LOI) with ST Engineering and its in-house leasing arm Aviation Asset Management to lease five incremental converted A321-200(P2F)s.
The Singapore-based maintenance provider said it would acquire the A321-200s for conversion either on its own or through its joint venture firms. It did not reveal the identity of the aircraft. The first of the quintet is set to enter conversion in April 2022 and deliver to GLOBALX in the fourth quarter of the year.
The other four units will be converted and delivered “progressively”.
The Floridan start-up, which is currently undergoing certification, signed an LOI with Vallair for ten A321-200(P2F)s in October 2020, of which five were confirmed for conversion by ST Engineering. GLOBALX Chairman Ed Wegel confirmed to ch-aviation that the five newly ordered aircraft are on top of the ten previously signed, increasing the start-up’s freighter fleet to fifteen A321-200(P2F)s.
In April 2021, GLOBALX secured a USD10 million investment from Ascent Global Logistics, which it said would partially fund its expansion into the freighter market later in 2021.
GLOBALX plans to operate a two-pronged business model based on the passenger and cargo niches. In terms of its passenger operations, GLOBALX aims to provide charter capacity for major airlines, tour operators, professional and collegiate sports teams, casinos, and corporate groups, as well as direct-to-consumer charters under its Part 380 regulations out of its bases at Miami Int’l and Atlantic City.
