August 9th, London: Independent aviation consultancy firm IBA responds to market dynamics with the introduction of a new Freighter Advisory practice within the Firm. This focused team is formed against a backdrop of a surge in freight volumes in the first half of 2017 and is headed by Moshe Haimovich – Head of Freighter Advisory.
Haimovich joined IBA in 2017 and leads the new Freighters Advisory practice. He has over thirty years of aviation experience in engineering, project management, consulting and marketing with Aldav Engineering Ltd. and Israel Aerospace Industries. Specialising in aircraft cargo conversions including all technical and commercial aspects in the field, he has supported major operators, airlines, lessors and investors on the development of cargo conversion supplementary type certificates and the conversion of more than one hundred aircraft. Haimovich holds a BSc. degree in Aeronautical Engineering from the Technion Israel Institute of Technology.
Phil Seymour, CEO of IBA explains why IBA is providing advisory service to the freight sector. “According to IATA’s latest June Freight Analysis report, global freight volumes rose by nearly 11% year-on-year in the first half – this is the fastest pace of growth since October 2010. These results are further endorsed by IBA.iQ, our insight and analysis database that supports aviation investment. “
“With Boeing* and Airbus** forecasting that the freighter market will require 2,480 and 1,950 additional freighters respectively over the next twenty years, in this positive environment we felt it was the right time to supplement our internal resources with a highly experienced and knowledgeable industry expert and we’re very pleased to welcome Moshe to the management team.”
Seymour goes on to says that airlines based in Europe and Asia Pacific accounted for around two-thirds of the annual increase in freight volumes, with the remainder split almost equally between North American and Middle Eastern carriers. Even the modest positive contribution made by African airlines was the strongest in nearly seven years.
“This can all be measured against improved world trade conditions which have picked up since the middle of last year and business surveys continue to indicate healthy export order books for global manufacturers. IBA concurs with IATA in noting that the global airfreight tonne kilometres (FTKs) grew by 12.7% year-on-year in May 2017, up from 8.7% in April 2017. Driven by the growth of e-commerce and by industries reliant on the movement of time sensitive and high-value goods such as consumer electronics and perishables, demand for freighter aircraft has significantly increased from 2015. IBA is already seeing that the P2F cargo conversion sector rate is stepping up to meet demand, but inevitably there are pitfalls for the unwary even in a buoyant sector.”
IBA Freighter Advisory Services:
- Freighter market intelligence and analysis
- Freighter fleet selection – new and converted
- Available feedstock for conversion analysis
- Freighter valuations: on ramp cost estimate, aircraft values, lease rates
- Consulting on cargo conversion options, addressing all technical and commercial aspects
- Conversion and on-site management
- Second life (cargo conversion) or EoL decision
- Evaluation of investment in new cargo conversion development
Click here to read IBA’s recent whitepaper Freighter Conversions: capitalising on the resurgence of demand, this report addresses options for midlife aircraft, takes an in-depth look at a Boeing 737 conversion, current and future conversion programmes and feedstock analysis. If you would like to learn more about mid-life options then sign up for our free September webinar here or for more information, contact Moshe.Haimovich@iba.aero.
- Boeing Current Market Outlook 2017-2036
** Airbus Global Market Forecast 2017-2036