Calgary, Alberta (June 20, 2024) — Avmax Group proudly announces the successful completion of two significant transactions with Astral Aviation, a prominent cargo carrier based in Kenya. These transactions underscore Avmax’s commitment to supporting Astral Aviation’s fleet expansion and operational enhancement strategies.

The first transaction involved the purchase and lease-back of a Boeing 767-200 Freighter (MSN 22217) airframe, which has operated in Astral Aviation’s fleet since 2020. The second transaction comprised the dry lease of a Boeing 737-400F (MSN 27082), a pivotal addition aligning with Astral Aviation’s fleet optimization goals.

Steve Hankirk, CEO of Avmax Group, is delighted to begin this partnership with Astral Aviation, stating, "We are pleased to have completed both transactions with Astral Aviation and welcome them into the Avmax family. Astral continues to demonstrate that they are a leading cargo carrier in the African market, and we are proud to support them with the growth of their airline."

Sanjeev Gadhia, Founder and CEO of Astral Aviation, highlighted the strategic importance of these transactions, remarking, "We are excited to add Avmax as a growth partner. Both transactions highlight their ability to provide flexible solutions that meet market requirements, enabling further growth for the Astral fleet. The introduction of the B737-400F marks an important inflection point in our growth strategy. This aircraft streamlines our fleet mix, allows Astral to match cargo demand with appropriate capacity, and ultimately offers better solutions to our customers."

Scott Greig, Senior Vice President and Head of Avmax Aircraft Leasing Inc., emphasized Avmax’s strategic focus on the African market and its operational agility, stating, "Both transactions demonstrate our commitment to the African market and highlight Avmax’s diverse capabilities in leasing aircraft to leading carriers like Astral Aviation. We are pleased to support Astral as they optimize their fleet with the introduction of a B737-400F, enhancing their ability to meet growing cargo demand effectively."

The announcements were made during this year’s AviaDev Conference in Namibia, where industry leaders gather to discuss developments and opportunities in African aviation. Avmax and Astral Aviation’s collaboration marks a significant milestone in both companies’ efforts to strengthen their market positions and enhance service offerings.