Supporting the efficiency and reliability of global air freight
Societe Generale acted as Sole Mandated Lead Arranger, Facility Agent and Security Trustee in structuring a financing solution to support MSC Air Cargo’s acquisition of two Boeing 777 freighter aircraft (B777F).
Air cargo plays a growing role in global trade, providing a fast and reliable solution for transporting commercial goods, critical supplies and high‑value or time‑sensitive shipments. As businesses seek to bypass maritime delays, accelerate product cycles and ensure the safe handling of fragile items, air freight has become a prominent component of international logistics.
In 2024, worldwide volumes reached a record high, rising 11.3% compared with 2023(1). This momentum carried into 2025, with another historic increase of 3.4%, supported by a 3.7% expansion in cargo capacity(2). Early 2026 indicators confirmed this strength: in January alone, demand grew by 5.6% year‑on‑year.
Although growth is forecast to moderate to 2.4% in 2026(3), air cargo remains significant for international supply chains, supported by sustained e‑commerce activity, ongoing maritime disruptions and shifting global trade flows.
Two factory-new aircraft
MSC Air Cargo is the airfreight arm of MSC Group, the world’s largest container shipping company.The airline has welcomed two new Boeing 777 freighters, delivered in January and March 2026. Following the maritime tradition of MSC Group, each aircraft bears a star‑inspired name, Bellatrix and Castor, a naming convention already adopted in 2024 with the delivery of aircraft Alfirk, also financed by Societe Generale.
This twin‑engine widebody freighter can carry approximately 102 tonnes over 9,200 km and is renowned for its fuel efficiency, reliability, and strong secondary‑market liquidity. The B777F delivers around 20% lower fuel burn and CO₂ emissions per tonne‑kilometre compared with previous‑generation freighters, while meeting the most stringent ICAO(4) noise standards. The aircraft is fully compatible with Sustainable Aviation Fuel.
A long‑term transaction enabled by strong aircraft finance expertise
Societe Generale structured a senior secured term loan facility to support this acquisition. The financing is secured by a first‑priority aircraft mortgage together with a comprehensive aviation security package.
Building on the successful closing of MSC’s previous B777F financing in 2024, the Bank replicated a proven structure to ensure efficient execution.
This transaction further demonstrates Societe Generale’s aircraft finance expertise and its ability to support clients through long standing, trusted partnerships and tailor-made financing solutions that align with their strategic objectives, whether related to fleet renewal or growth.
Societe Generale is proud to support MSC Air Cargo in its growth with a solution that combines structuring expertise, market insight, and efficient execution. This successful closing demonstrates the trust our client has placed in our aircraft finance team and the depth of Societe Generale’s long‑standing partnership with the MSC Group.
(1) IATA Publishes 2024 Passenger and Cargo market data
(2) IATA - Global Air Cargo Demand Achieved Record Volume in 2025
(3)IATA - Global Air Cargo Demand Achieved Record Volume in 2025
(4) International Civil Aviation Organization
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