Israel Aerospace, Etihad to open aircraft conversion site in Abu Dhabi | Reuters
Israel Aerospace Industries (IAI) (ISRAI.UL) said on Wednesday it signed an agreement with Etihad Engineering to establish a facility in Abu Dhabi that will convert Boeing 777-300ER passenger planes into cargo aircraft.
The new facility, which will operate as the company's maintenance centre in Abu Dhabi, aims to meet the growing demand for large cargo jets.
"Not only do we see the demand, but we view it as a greener, more profitable, highly innovative solution for our airline customers, and an excellent way to drive value for our business," Tony Douglas, chief executive of Etihad Aviation Group, said in a statement.
Demand for cargo plane conversions has been on the rise with the increase in ecommerce and the decline in value of used planes during the COVID-19 pandemic.
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