English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Atlas Air expands 747 freighter capacity

PRESS RELEASE

June 25, 2015:  Based on the improved airfreight environment and customer demand, Atlas Air Worldwide has agreed to acquire a new 747-8 freighter from Boeing with delivery scheduled for November 2015.

Prior to its expected placement in longer-term ACMI (aircraft, crew, maintenance and insurance) service, the company intends to deploy the aircraft in profitable charter operations, taking advantage of the aircraft's superior fuel efficiency, range, capacity and loading capabilities.

To meet additional charter demand, Atlas Air Worldwide is also returning an owned and unencumbered 747-400 converted freighter to active service. The aircraft is resuming operations this month. At the same time, the company has entered into a short-term operating lease expected to begin in late June for a second 747-400 converted freighter. This lease is intended to replace a similar aircraft, with a lease that expires this month, on terms that are more favorable to the company.

In addition, the company has expanded its Titan Dry Leasing portfolio by acquiring two Boeing 767 aircraft. These will be leased to DHL Express following their conversion from passenger to freighter configuration in the fourth quarter of this year. They complement a Boeing 757 Freighter recently dry leased to DHL by Titan following the conclusion of a previous customer lease.

"We are seeing good demand for airfreight and for our aircraft and services," said William J. Flynn, President and Chief Executive Officer of Atlas Air Worldwide. "We are also working closely with our customers to provide them with the most efficient aircraft to meet their needs.

"As prudent asset managers, our approach to business growth remains disciplined. We have managed our fleet aggressively. And we will utilize proceeds from our recent convertible note issuance to refinance higher cost debt, which will enable us to reduce aircraft ownership costs and increase fleet flexibility."

By year-end 2015, Atlas Air Worldwide's cargo operations are expected to include ten 747-8Fs and 23 747-400 freighters. It also expects to have two 747-400s and three 767-300s providing passenger service to the U.S. military and other charter customers.

More News

Written on 18/01/2018, 21:36
jd-com-signs-deals-with-vietnam-and-franceBEIJING: January 15, 2018. JD.com, China's largest retailer, is to become a major shareholder in Vietnam's B2C e-commerce platform Tiki.com following the...
Written on 18/01/2018, 17:43
record-port-volume-for-south-carolinaCHARLESTON, SC: January 17, 2017. The South Carolina Ports Authority (SCPA) handled a record 2.2 million TEU in 2017, resulting in a nine percent growth...
Written on 17/01/2018, 23:18
fedex-trade-networks-to-include-ecommerce-and-specialty-logisticsMEMPHIS, January 16, 2018. FedEx Corporation is combining its specialty logistics and e-commerce solutions in a new organization under its FedEx Trade...
Written on 17/01/2018, 22:25
singapore-and-kuehne-nagel-to-invest-in-advanced-logistics-technologySINGAPORE/SCHINDELLEGI, Switzerland: January 15, 2018. Singapore sovereign investor Temasek has signed an MoU with Kuehne + Nagel to invest in early stage...
Written on 16/01/2018, 22:59
freightweek-news-update-week-03-2018LANGHORNE, PA: January 19, 2018. va-Q-tec, a provider of thermal packaging solutions for temperature controlled transportation, has opened a North...
Written on 13/01/2018, 15:10
freightweek-news-update-week-02-2018HOLZWICKEDE: Germany: January 12, 2018. The Rhenus Group has acquired Brazilian import broker Pirâmide SeaAir Comércio Exterior with offices in São...
Written on 10/01/2018, 23:01
fedex-opens-new-shanghai-hubHONG KONG, January 8, 2018. Federal Express has officially opened its 134,000 sq.mt. cargo hub at Shanghai Pudong International Airport to support 66...
Written on 10/01/2018, 22:55
dp-world-to-continue-us-1-billion-annual-investmentsDUBAI: January 08, 2018. DP World invested US$1 billion in global trade services, supply chain diversification and smart technology last year. The...
Written on 09/01/2018, 23:18
turkish-airlines-adds-to-b777-freighter-fleetSEATTLE: January 08, 2017. Turkish Airlines has ordered three more B777 freighters with a list price of approximately US$300 million each. The new order...
Written on 09/01/2018, 22:41
brussels-reports-best-traffic-in-a-decadeBRUSSELS: January 08, 2018. Brussels Airport finished 2017 with an 8.3 percent increase in air cargo traffic compared to 2016 with a total of 535,634 tons...
Written on 05/01/2018, 18:46
dunkerque-added-to-central-america-reefer-serviceCURACAO: January 04, 2018. Specialist reefer and bulk cargo carrier StreamLines has begun a new weekly service linking Central America, the Caribbean,...
Written on 04/01/2018, 22:29
swisslog-provides-automated-pharma-facility-for-kuehne-nagelBUCHS, Switzerland: January 03, 2018. Swisslog, a specialist in warehouse automation and robotics, is implementing a 'high-bay' warehouse at Möhlin in the...
Written on 03/01/2018, 23:56
block-train-helps-maersk-line-expand-in-nepalMUMBAI: January 03, 2018. Responding to a Nepalese import market that has doubled in the past five years, Maersk Line says it wants to increase its block...
Written on 02/01/2018, 18:27
freightweek-news-update-week-01-2018DOHA: January 07, 2018: Qatar Airways Cargo operated 14 B777 freighter flights to carry 1,400 tonnes of cherries from Santiago, Chile via Doha to Shanghai...
Written on 30/12/2017, 20:41
freightweek-news-update-week-52DUBAI: December 30, 2017. Emirates SkyCargo reports carrying 2.5 million tonnes of airfreight in 2017 and a 38 percent growth in pharmaceutical traffic...
Written on 18/12/2017, 17:30
freightweek-news-update-week-51AMSTERDAM: December 22, 2017. Hutchison Ports has acquired a 50 percent stake in TMA Logistics, with three locations in Amsterdam and one in Antwerp as...
Written on 15/12/2017, 22:46
tx-logistik-buys-40-bombardier-locomotivesTROISDORF, Germany: December 14, 2017. Italian rail company TX Logistik has signed a purchase and maintenance contract with Bombardier Transportation for...
Written on 15/12/2017, 21:57
turkish-airlines-signs-airport-transfer-dealISTANBUL: December 14, 2017. Turkish Airlines has signed a consulting contract with Munich Airport International (MIA) to help facilitate the transfer of...
Written on 15/12/2017, 19:59
xeneta-to-add-air-to-ocean-rate-platform-in-2018OSLO: December 14, 2017. Ocean rate platform Xeneta is adding air cargo rates to a product suite that it says will "bring fresh levels of transparency to...
Written on 15/12/2017, 17:34
cargolux-gets-the-measure-of-wind-farmsLUXEMBOURG: December 15, 2017. Cargolux and Globaltrans Internationale Logistik have delivered two wind measuring buoys for two 2.8GW capacity wind...

- powered by Quickchilli.com -