21 Air Expands Fleet with Boeing 777s and Ownership Consolidation

This article summarizes reporting by FreightWaves and Eric Kulisch.

U.S.-based cargo carrier 21 Air is embarking on a significant strategic transformation, marked by a planned fleet expansion to include widebody Boeing 777 freighters and a consolidation of ownership. According to reporting by FreightWaves, billionaire logistics magnate Jim Crane has taken full control of the airline following the exit of Canadian investor Cargojet.

The corporate restructuring coincides with a leadership transition at the Greensboro, North Carolina-based carrier. Keith Winters has been appointed as interim CEO, succeeding Tim Strauss, as the company positions itself to capture a larger share of the lucrative long-haul international cargo market.

Fleet Expansion and the Boeing 777 Strategy

To access higher-revenue international routes, 21 Air is preparing to upgrade its fleet capabilities by acquiring Boeing 777 freighters, often referred to in the industry as the “Big Twin.” The airline currently operates a fleet of 16 aircraft, primarily consisting of Boeing 767s, including 767-200s and 767-300 converted freighters, and recently added Boeing 757s, according to FreightWaves.

The financial motivation behind the fleet upgrade is substantial. In an interview with FreightWaves, Crane noted that the revenue potential of the 777s is significantly higher than their current fleet, largely due to the aircraft’s ability to fly long-haul routes that generate more billable hours.

“The revenue base on those 777s is probably triple that of the planes we’re running,” Crane told FreightWaves.

The Boeing 777 freighter platform offers significant volume and payload advantages over older aircraft, making it highly suitable for round-the-world operations. The airline aims to achieve Federal Aviation Administration (FAA) certification to operate the 777s by the end of 2026, as reported by FreightWaves. To source the aircraft, 21 Air is evaluating multiple channels. These include potentially subleasing from DHL’s Mammoth Freighters conversion program or acquiring production and converted aircraft directly from third-party lessors.

Leadership Transition and Ownership Consolidation

The fleet expansion aligns with a major shift in the company’s executive suite and ownership structure. Tim Strauss, a veteran aviation executive who helped bring Amazon on board as a client, stepped down after his two-year contract expired in February 2026, according to FreightWaves. Strauss left on good terms and will remain with the airline in a consulting capacity through June 2026.

Incoming interim CEO Keith Winters is a longtime confidant of Crane, having worked with him for over 25 years, including a tenure as CEO of Crane Worldwide Logistics. Winters is tasked with building out a new executive team to guide the airline through its next growth phase and facilitate an accelerated expansion plan.

Cargojet Divestment

Canadian cargo airline Cargojet has agreed to divest its 25% minority stake in 21 Air, which it originally acquired in 2021 with approval from U.S. regulators. Following this divestment, Jim Crane is now the 100% shareholder of 21 Air’s holding company, Avia Investments, FreightWaves reports.

The divestment was partially driven by a desire to avoid labor union conflicts. The Air Line Pilots Association (ALPA), which represents pilots at both airlines, had previously contested the close commercial cooperation and fleet interchange deals between the two carriers. According to FreightWaves, divesting helps Cargojet navigate upcoming labor contract negotiations, which expire in June 2026, without the complication of cross-border pilot benefit comparisons.

Despite the dissolution of the equity partnership, Cargojet and 21 Air will maintain a transactional commercial relationship. FreightWaves notes that the two companies will continue to collaborate selectively on consulting and simulator training.

Industry Context and Strategic Insights

Crane emphasized that 21 Air’s relatively small size and flat management structure make it highly attractive to large express delivery customers. Unlike private equity-owned aviation giants such as Atlas Air or Air Transport Services Group (ATSG), 21 Air can make swift operational decisions without navigating layers of corporate bureaucracy.

“I got a small team. You make two phone calls, and you’re done… I can move faster than everybody,” Crane stated in the FreightWaves interview.

The addition of Boeing 777s will not only serve express carriers like DHL and Amazon but also open up potential charter services for Crane Worldwide Logistics’ global customers. This move is expected to diversify 21 Air’s revenue streams and provide a dedicated air cargo option for clients navigating global supply chain pressures.

AirPro News analysis

The strategic pivot by 21 Air underscores a broader industry trend where mid-size cargo carriers are seeking to capitalize on the robust demand for widebody freighters. By transitioning to the Boeing 777, we observe that 21 Air is positioning itself to compete more aggressively on long-haul international routes, which have traditionally been dominated by larger, legacy carriers. The 777’s fuel efficiency and payload capacity make it an ideal asset for capturing cross-border e-commerce growth.

Furthermore, the consolidation of ownership under Jim Crane provides the airline with the agility needed to navigate a volatile global supply chain environment. The divestment by Cargojet also highlights the complex interplay between cross-border airline partnerships and domestic labor union dynamics. As ALPA continues to scrutinize international joint ventures, we anticipate that other carriers may similarly simplify their corporate structures to avoid protracted labor disputes.

Frequently Asked Questions

What is 21 Air’s current fleet size?

According to FreightWaves, 21 Air currently operates a fleet of 16 aircraft, primarily consisting of Boeing 767s and 757s.

When does 21 Air plan to operate Boeing 777s?

The airline aims to achieve FAA certification to operate Boeing 777s by the end of 2026, as reported by FreightWaves.

Why did Cargojet divest its stake in 21 Air?

FreightWaves reports that Cargojet divested its 25% stake partially to avoid labor union conflicts during upcoming contract negotiations, which expire in June 2026.

Sources

• FreightWaves