21 Air Eyes Boeing 777 Freighters as Cargojet Sells Its 25% Stake
21 Air plans to acquire Boeing 777 large freighters to expand into long-haul international cargo routes, scaling beyond its current fleet of 16 converted freighters. Canadian investor Cargojet is divesting its 25% stake after FAA approval, with interim CEO Keith Winters overseeing an accelerated growth strategy.
1. Expansion to Boeing 777 Freighters
21 Air is targeting Boeing 777 large freighters to enter long-haul international markets, building on a fleet that has grown from five to 16 aircraft, including seven B767-300s, two B767-200s and three B757-200s, with three additional B757s expected soon.
2. Cargojet Divests Its Stake
Cargojet is selling its entire 25% holding in 21 Air following FAA approval, shifting the relationship to a transactional model for consulting services, pilot simulator training and aircraft leases rather than equity partnership.
3. Interim Leadership and Growth Plans
Owner Jim Crane has installed logistics veteran Keith Winters as interim CEO to assemble a new executive team and drive an accelerated growth plan focused on larger freighter operations and international route expansion.