TNT expands fleet with B777 lease deal

TNT Airways and Guggenheim Aviation Partners have signed an agreement for the delivery and lease of three new Boeing 777-200LR freighters. The first aircraft will be delivered and enter service by July 2011. The other two will enter service by the end of 2011.
The 777 freighters will operate on long-haul routes between Europe and Asia. On these routes, TNT currently operates a fleet of two owned B747-400ERFs and two B747-400ERFs on short-term lease.
The new B777 freighters will reduce TNT's reliance on commercial line-haul and external short-term contract capacity, while providing the capacity required to support the company's growth in Asia.
"We are delighted to have concluded this agreement with Guggenheim for these aircraft and we are thrilled by the prospect of introducing the new type in our fleet," said Niky Terzakis, managing director, TNT Global Air Network. "Like the legacy B747, the B777 is a mature and very successful product and the most fuel-efficient freighter aircraft available, while offering near equivalent performance to our B747 capacity," he added.
"The B777LRF is proving to be a perfect fit for this area of the freight market and will be a great addition to support TNT's future plans," said Steve Rimmer, chief executive officer of Guggenheim.