Under the terms of the contract, signed in 2009, Pemco has already completed redelivery on two 737-300 aircraft conversions in October 2009 and January 2010. The third freighter is on schedule for redelivery in February, with the remaining three entering service before the end of the second quarter.

This agreement represents the second time China-based HNA Group has partnered with Pemco in a multiple aircraft conversion deal, and extends both Pemco's market leadership in China and its global installed base of about 80 737-300/400 converted aircraft.

"We are honored that HNA Group, a leader in the Chinese civil aviation industry, has tapped us once again to help meet the growing demand for air cargo traffic in the Asia-Pacific region," said Pemco CEO Wake Smith.

Pemco President Kevin Casey commented, "We look forward to providing HNA Group, and its subsidiaries, Yangtze River Express and Hong Kong Airlines Cargo, with quality products to serve their customers for many more years."

Pemco's 737 freighter, quick change and combi modifications are the world's only conversions which are fully designed using Boeing's proprietary aircraft structures and systems data. Pemco's 737-300/400 converted aircraft have flown 2 million safe, reliable flight hours with over 30 customers in more than 20 countries worldwide.

Pemco's latest systems and component advances, together with structural advances that allow converted aircraft to remain in service for up 20,000 cycles between SID inspections, contribute to Pemco's 737-300/400 freighters having the highest dispatch reliability and utilization levels, the lowest unit and trip costs and the highest retained value in the industry.

(c) Centre for Asia Pacific Aviation. Date posted: 01-Feb-10

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