KLM Cargo ends lease on 747-400ERF early

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According to the Dutch website nieuwsbladtransport.nl, KLM Cargo has returned a 747-400ERF to lessor Aircastle earlier than planned. The aircraft, which is thought to be on lease to AirBridgeCargo (ABC) next, had been wet-leased by Etihad, but Erik Varwijk, head of AF-KLM Cargo, said the cost of the freighter outweighed the revenue. The Dutch media reported that leasing costs were some $1m a month  – “too much” said Mr Varwijk – but a market source suggested it was more likely to be on lease to ABC for about $250,000 a month. The article (in Dutch) also notes that 25 Martinair pilots have been made redundant owing to the airline group’s withdrawal from freighters. KLM/Martinair now have three 747-400ERFs and five MD-11Fs, two of which will be retired in March and the others by 2016.