AerSale Leases Boeing 757 Freighter to Stratos for Central Asia Growth

Global aviation aftermarket provider AerSale Corporation has leased a Boeing 757-200PCF freighter to Stratos Freight, a new all-cargo airline based in Tashkent, Uzbekistan. The aircraft, a 2001-vintage model with Manufacturer Serial Number (MSN) 32394, arrived in Tashkent in mid-March 2026 and will be used to enhance cargo connectivity across key routes in Central Asia, Europe, and the Middle East.

This lease agreement positions Stratos Freight to capitalize on the rapidly expanding Central Asian air cargo market. According to OAG Historical Airline Capacity Data, the region's aviation market capacity has grown nearly 500% over the last 20 years, reflecting a 7.7% compound annual growth rate (CAGR). The growth is largely driven by booming e-commerce and the strategic rerouting of Europe-Asia trade flows, which increasingly utilize Central Asian hubs to bypass restricted airspace over Russia. With this aircraft, Stratos Freight becomes Uzbekistan's third operator of the Boeing 757-200F.

Craig Wright, Senior Vice President and Head of Asset Management at AerSale, described the 757 freighter as a "highly versatile and efficient platform for regional cargo operations." For Stratos Freight, the aircraft is a foundational asset. "This Boeing 757-200PCF will play a key role in expanding our operational capabilities and establishing reliable, efficient services for our customers across Central Asia and international markets," stated Captain Mukhtar T. Khaitov, CEO of Stratos Freight.

Market Dynamics and Impact

The introduction of the freighter directly supports Uzbekistan's growing role as a logistics center. The Central Asia e-commerce market is projected to expand at a 30.63% CAGR between 2025 and 2033, reaching a value of $182.2 billion, according to research by IMARC Group. This explosive growth necessitates a corresponding increase in air freight capacity, creating opportunities for new operators like Stratos Freight.

The lease is a significant move for several stakeholders. For Stratos Freight, it provides its first medium-widebody freighter, enabling it to compete on critical China-Europe routes. For AerSale, the transaction generates recurring lease revenue and validates its integrated business model, which includes aircraft acquisition, Passenger-to-Freighter (P2F) conversion, and leasing, alongside its core Maintenance, Repair, and Overhaul (MRO) and Used Serviceable Material (USM) businesses. The deal also benefits Tashkent International Airport (TAS) by increasing cargo throughput and associated aeronautical revenues.

Regulatory procedures for the aircraft transfer were completed in March 2026. The aircraft was officially deregistered in the United States by the Federal Aviation Administration (FAA) on March 17, 2026, allowing it to be transferred to Stratos Freight's Air Operator Certificate under the authority of the Civil Aviation Agency of Uzbekistan (Uzaviation).

Technical Analysis

The continued demand for the Boeing 757-200PCF highlights its enduring value in the narrowbody freighter market. Despite the availability of newer conversion programs like the Airbus A321P2F and Boeing 737-800BCF, the 757 remains highly sought after for its superior payload and range characteristics on medium-haul routes. This transaction follows a successful precedent set by another Uzbek carrier, My Freighter, which built a robust cargo network from 2023 to 2026 using converted Boeing 767s. This pattern demonstrates the viability of leveraging proven, converted Boeing freighters to capture burgeoning Europe-Asia trade flows.

However, some environmental aviation advocates note that aging 757 freighters are less fuel-efficient and produce higher emissions compared to new-generation freighters. While economically efficient for operators, the reliance on older airframes presents a long-term challenge for the industry's sustainability goals.

Boeing 757-200PCF vs. Airbus A321P2F

Metric	Boeing 757-200PCF	Airbus A321P2F
Payload	39.8 tonnes	27 tonnes
Range	2,935 nm	2,000 nm

Boeing 757-200PCF vs. Boeing 737-800BCF

Metric	Boeing 757-200PCF	Boeing 737-800BCF
Payload	39.8 tonnes	23.9 tonnes
Range	2,935 nm	2,000 nm

What Comes Next

Stratos Freight is expected to launch scheduled commercial service with the Boeing 757-200F during the second quarter of 2026. The launch is subject to final operational approvals from Uzaviation. The airline is anticipated to announce its initial route network connecting Tashkent with key hubs in China, the Middle East, and Europe shortly thereafter.

Why This Matters

This lease agreement is more than a single aircraft transaction; it signals the growing strategic importance of Central Asia as a global air cargo crossroads. It underscores the continued economic viability of the Boeing 757 freighter conversion program in meeting the intense demands of regional e-commerce logistics. For the market, it demonstrates a clear pathway for new cargo entrants to scale operations quickly by leveraging proven, available airframes from established aftermarket providers like AerSale.

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