Atlas Air Worldwide Orders Four New Boeing 747-8 Freighters
January 12 2021 - 8:00AM
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) announced today
it has ordered four new Boeing 747-8 freighters in a transaction
that furthers the company’s strategic growth plan. The aircraft
will enable the company to meet strong customer demand in the
airfreight market, particularly the fast-growing e-commerce and
express sectors.
The company’s business model provides the
flexibility to operate these new aircraft for customers or take
advantage of dry-leasing opportunities through its Titan Aviation
Leasing subsidiary.
The Boeing 747-8 freighter is the most capable,
technologically advanced and environmentally conscious widebody
freighter. The 747-8F provides 20% higher payload capacity and 16%
lower fuel consumption than the very capable 747-400F, and has 25%
higher capacity than the new-technology 777-200LRF. It is also the
only factory-built freighter with nose-loading capability in
production, which will serve the long-term needs of the airfreight
market. Atlas is the world’s largest operator of Boeing 747
freighter aircraft, with a total of 53 in its current fleet,
including 10 747-8Fs, 34 747-400Fs, five passenger 747-400s, and
four Large Cargo Freighters (LCFs).
Atlas’ investment in these new aircraft
underscores its ongoing commitment to environmental stewardship
through the reduction of noise, aircraft emissions and resource
consumption. The 747-8F meets or exceeds the strictest
International Civil Aviation Organization (ICAO) emissions
standards and meets global noise regulations with unlimited
deployment. The advanced engines on the 747-8F reduce noise by
approximately 30% compared to the previous generation of
aircraft.
“The 747-8F is the best and most versatile
widebody freighter in the market, and we are excited to bolster our
fleet with the acquisition of these four aircraft,” said John W.
Dietrich, Atlas Air Worldwide President and Chief Executive
Officer.
Mr. Dietrich continued: “This significant growth
opportunity will enable us to capitalize on strong demand and
deliver value for our existing and prospective customers. The
efficiency and capability of the 747-8F further complements our
longstanding focus on leading-edge technology. Dedicated freighters
– like those operated by our Atlas, Polar and Southern subsidiaries
– will continue to be in demand as the global airfreight market,
particularly the e-commerce and express sectors, continues to grow.
We look forward to continuing to provide world-class service to our
customers.”
“The 747 will forever hold a special place in
aviation history and we are honored by Atlas Air’s longstanding
commitment to the airplane. Atlas Air began operations 28 years ago
with a single 747 and it is fitting that they should receive the
last 747 production airplanes, ensuring that the ‘Queen of the
Skies’ plays a significant role in the global air cargo market for
decades to come,” said Stan Deal, president and chief executive
officer of Boeing Commercial Airplanes. “With the global air cargo
fleet expected to grow by more than 60% over the next 20 years, we
look forward to delivering these airplanes and supporting Atlas
Air’s Boeing fleet well into the future.”
“With our highly-trained pilots, outstanding
ground staff, and our ongoing investments in innovation and our
fleet, we continue to position Atlas as a critical player in the
global supply chain and a trusted partner to our customers,” Mr.
Dietrich said.
The new 747-8F order will also provide the
company with enhanced flexibility to balance future capacity needs
with customer demand, as a number of its legacy 747-400F aircraft
leases will be up for renewal over the next several years.
The 747-8Fs are expected to be delivered from
May through October 2022. These aircraft are the last four 747-8Fs
that Boeing plans to produce.
About Atlas Air Worldwide:
Atlas Air Worldwide is a leading global provider
of outsourced aircraft and aviation operating services. It is the
parent company of Atlas Air, Inc., Southern Air Holdings, Inc. and
Titan Aviation Holdings, Inc., and is the majority shareholder of
Polar Air Cargo Worldwide, Inc. Our companies operate the world’s
largest fleet of 747 freighter aircraft and provide customers the
broadest array of Boeing 747, 777, 767 and 737 aircraft for
domestic, regional and international cargo and passenger
operations.
Atlas Air Worldwide’s press releases, SEC
filings and other information may be accessed through the company’s
home page, www.atlasairworldwide.com.
About The Boeing Company:
Boeing is the world’s largest aerospace company and leading
provider of commercial airplanes, defense, space and security
systems, and global services. As a top U.S. exporter, the company
supports commercial and government customers in more than 150
countries, leveraging the talents of a global supplier base.
Building on a legacy of aerospace leadership, Boeing continues to
lead in technology and innovation, deliver for its customers and
invest in its people and future growth.
Contacts: |
Investors
– InvestorRelations@atlasair.com |
|
Media – CorpCommunications@atlasair.com |
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1cdb400f-3e9f-43f2-8829-908b34a43be4
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