Icelease will add its first Boeing 767-300BCF to its freighter portfolio after signing an agreement with Boeing to convert one 767-300ER, with options for two more aircraft.
The aircraft is scheduled to enter conversion in the first quarter of 2027 at ST Engineering's facilities in Singapore, with delivery expected in the second quarter. Boeing and Icelease have not identified the 767-300ER that will serve as the donor aircraft.
The deal takes Icelease into the widebody segment of Boeing's passenger-to-freighter conversion business. The company previously ordered 11 737-800BCF conversions in 2021 and became the launch customer for Boeing's conversion line at London Gatwick.
Icelease's move comes as converted 767s take on a larger role in a market that is approaching the end of production of factory-built 767-300Fs.
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Since the beginning of 2020, nearly 150 passenger 767s have been converted into freighters, according to Aviation Week data. Together with more than 100 new-build 767Fs delivered over the same period, the shift has left almost 550 cargo-configured 767s in service, compared with just over 200 passenger aircraft.
The trend should continue after production of new commercial 767s ends. Boeing plans to deliver its remaining 767-300F backlog and close commercial production in 2027, although the 767 assembly line will remain active for the military KC-46A tanker.
End of new-build 767F
The 2027 cutoff has its origins in new aircraft emissions standards adopted by ICAO. The United States subsequently created a legislative exception that could allow 767-300F production for U.S. customers through 2033, but Boeing decided not to use the additional years and announced in 2024 that commercial 767 production would end in 2027.
FedEx received its 152nd and final new 767-300F in May 2026. At the time, Boeing's remaining commercial backlog comprised 15 aircraft, including seven for UPS and eight listed for an unidentified customer.
Conversions, however, are not subject to the same production cutoff because they use existing aircraft. That leaves the passenger 767-300ER fleet as a source of aircraft that can extend the type's presence in the cargo market after deliveries of factory-built freighters end.
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Boeing reached 100 completed 767-300BCF conversions in February 2025. The manufacturer said earlier this year that it saw enough suitable aircraft to support more than 100 additional conversions into the next decade.
The converted aircraft occupies essentially the same medium-widebody segment as the factory-built 767-300F. The 767-300BCF can carry about 57 tonnes (125,700 lb) and has a range of approximately 3,300 nautical miles (6,110 km) with that payload.
Icelease's first aircraft is expected to become part of the cargo portfolio managed by its sister company IAT Leasing, which currently includes seven 737-800BCFs. IAT also manages 10 converted Airbus A330-300 freighters leased to Amazon Air.
