Atlas steady on freighter fleet expansion

“We are seeing good demand for air freight and for our aircraft and services,” said William J. Flynn, president and chief executive officer of Atlas Air Worldwide.    By year’s end, Atlas Air Worldwide Holdings plans to operate a fleet of 10 Boeing 747-8 freighters 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, the company said in a statement.
   In addition, the airfreight carrier will operate at least 18 customer-owned planes in its CMI (crew, maintenance and insurance) operations during the year. These operations include four 747 cargo planes for Boeing, two 747-400 passenger aircraft for SonAir, 11 767 freighters for DHL Express, and one 767 passenger plane for MLW Air.
   For its dry leasing business in 2015, Atlas expects to provide 11 aircraft, including six 777 freighters, two 767 freighters, one 757 freighter, one 737 freighter, and one 737 passenger aircraft.  
   “We are seeing good demand for air freight and for our aircraft and services,” said William J. Flynn, president and chief executive officer of Atlas Air Worldwide, in a statement. 
   “Our approach to business growth remains disciplined,” Flynn added. “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.”
   Atlas has agreed to acquire a new 747-8 freighter from Boeing with delivery scheduled in November. Prior to its expected placement in longer-term ACMI (aircraft, crew, maintenance and insurance) service, the company intends to deploy the plane in its charter operations.
   The company will also return an owned 747-400 converted freighter to active service this month. At the same time, Atlas has entered a short-term operating lease for a second 747-400 converted freighter. This lease is intended to replace a similar plane, with a lease that expires this month, the company explained.   
   In addition, the airline has expanded its Titan Dry Leasing operation 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,” Atlas said. “They complement a Boeing 757 Freighter recently dry leased to DHL by Titan following the conclusion of a previous customer lease.”