Wiseway secures aircraft leasing agreement

Wiseway Group Limited (ASX: WWG, ‘Wiseway’ or ‘the Company’), one of Australia’s leading integrated freight and logistics operators, today announced it has entered into a leasing agreement which will provide it with exclusive use of a class-leading Boeing 737-800 SF.

The agreement with leading aircraft leasing company GA Telesis LLC secures 96 months of access to the cargo-freighter and will run until August 2030. Under the terms, the aircraft is expected to be made available to the Company by the end of August.

The monthly aircraft leasing fee is commercially confidential information, but will remain less than A$300,000 per calendar month for life of the contract.

Wiseway’s Interim Executive Chair and Managing Director, Ms Florence Tong, said: “This is a significant milestone in Wiseway’s growth journey, and marks the completion of our current global expansion strategy initiated in 2019.

“Using our own aircraft will deliver greater efficiencies across our network of 11 key logistics hubs in five countries. It will also offer our customers enhanced services, including more capacity and greater speed and agility to meet their evolving international cargo requirements.

“This exclusive use leasing agreement strongly positions our organization within a thriving part of the global supply chain–best illustrated by the International Air Transport Association’s (IATA) predictions that air cargo volumes will reach a record high of 68.4 million tonnes in 2022.

“Negotiations are well underway with a number of experienced aviation professionals as Wiseway seeks the best talent to manage the use of this valuable asset and seize on all opportunities that it presents.”