Air Transport Services Group, Inc. has signed a lease agreement with Air Incheon for one Boeing 767-300 converted freighter, with an option for a second aircraft.

According to ATSG, the agreement was signed between its ATSG West Leasing Limited subsidiary in Ireland and the South Korean cargo airline. The multi-year agreement is anticipated to begin on March 31, 2018.

“We are very pleased to announce ATSG’s relationship with Air Incheon via this Boeing 767 freighter lease,” said Rich Corrado, chief operating officer of ATSG. “Together with its expanding Boeing 737 freighter fleet, the larger 767 will extend Air Incheon’s range and level of service for its expanding base of customers in Asia and elsewhere.”

Air Incheon currently operates two 737-400 converted freighters. A third 737 is undergoing passenger-to-freighter conversion by PEMCO, a division of ATSG’s Airborne Maintenance and Engineering Services subsidiary.

“Adding the 767-300 to our fleet means we can offer our customers more options for reliable, economical air lift throughout our growing network,” said YK Park, president and founder of Air Incheon. “We look forward to a lasting partnership with ATSG.”