Ethiopian Airlines is leasing three Boeing 767 freighters to augment its rapidly growing all-cargo fleet as it pursues a strategic road map to make the cargo division a stand-alone profit center with revenue of $2.9 billion by 2035.
Titan Aircraft Investments, the joint venture between Atlas Air Worldwide’s (NASDAQ: AAWW) aircraft leasing subsidiary and Bain Capital Credit, announced Monday it has placed three 767-300 Extended Range converted freighters on long-term leases with Ethiopian...
Atlas Air Worldwide Holdings on Wednesday said it has merged the operations of subsidiary Southern Air under a single operating certificate held by sister cargo airline Atlas Air.
Atlas Air is the world’s largest operator of Boeing 747 freighter aircraft and also flies two dozen 767 medium widebody cargo jets. With the addition of Southern Air on the same operating certificate, Atlas adds about nine large 777s and eight 737-800 narrowbody jets used on shorter, regional routes. The move provides...
https://www.freightwaves.com/news/atlas-air-finalizes-integration-of-southern-to-boost-efficiency
Atlas Air said Wednesday it is operating two Boeing 747-400 freighters for FedEx Express (NYSE: FDX) full time under a new long-term contract. The deal is in addition to the all-cargo carrier’s existing multiyear peak-season contract that provides FedEx with a minimum of five aircraft during the fourth quarter.
FedEx (NYSE: FDX) is adding supplemental airlift to keep up with growing international e-commerce volumes in its express network. During its fiscal first quarter ended Aug. 31, FedEx’s...
https://www.freightwaves.com/news/atlas-air-inks-747-freighter-contract-with-fedex
Pilots for all-cargo carrier Atlas Air are venting frustration over a new five-year contract imposed under binding arbitration even though analysts say the deal significantly raises pay toward the upper end of peers at comparable carriers. The outcome should provide labor certainty for Atlas as it tries to meet strong demand for shipping service, but union representatives warn the new benefits package will accelerate attrition rates and jeopardize service.
Initial estimates indicate captains...
https://www.freightwaves.com/news/disgruntled-pilots-blast-5-year-contract-with-atlas-air
Atlas Air will continue to fly 20 large freighters for DHL Express after the express delivery company extended an existing contract, the companies announced Tuesday.
The arrangement ensures DHL Express has continued access to outsourced airlift to support its fast-growing express business that is increasingly driven by e-commerce.
The aircraft are operated globally by Atlas Air Worldwide Holdings (NASDAQ: AAWW) subsidiaries Atlas Air, Polar Air Cargo and Southern Air. Polar Air Cargo is a...
https://www.freightwaves.com/news/dhl-express-renews-agreement-with-atlas-air-for-20-freighters
Atlas Air Worldwide said Thursday it is purchasing eight Boeing 747-400 freighters as their leases expire between this summer and the end of 2022 to ensure capacity as strong air cargo volumes collide with supply shortages.
The cargo airline holding company’s second-quarter revenue increased 20% to $990.4 million and it projected sales will reach $1 billion in the current period as shippers flock to air transport to support heavy ordering from customers and avoid ocean shipping congestion that...
https://www.freightwaves.com/news/atlas-air-buys-eight-747-freighters-off-lease-to-maintain-capacity
Icelandair has agreed to a sale-leaseback deal with a subsidiary of Atlas Air Worldwide Holdings (NASDAQ: AAWW) that recycles two Boeing 767-300 passenger planes into freighters for the cargo division and provides financial help to the company. The aircraft will replace two Boeing 757-200 all-cargo planes that the airline plans to take out of operation in 2023 and 2024, it said in a statement Wednesday.
Titan Aircraft Investments, the joint venture between Atlas’ leasing subsidiary Titan...
Atlas Air Worldwide (NASDQ: AAWW) and DHL Express on Tuesday announced significant purchases of production freighters from Boeing Co. (NYSE: BA) to help stay ahead of demand trends for the air cargo market.
Atlas Air ordered four 747-8 cargo planes, adding to the world’s largest fleet of 747s, while Deutsche Post DHL’s (DIX: DPW) express delivery arm said it will purchase eight 777 freighters.
The 747-8s earmarked for Atlas will be the last ones off the production line in Everett, Washington....
https://www.freightwaves.com/news/atlas-air-dhl-express-buy-large-boeing-freighters
Shippers faced many challenges in 2020, and COVID-19 was just one. One ship lost thousands of containers, investors fled shipping stocks early in the year, and airlines faced uncertainty with different strategies.
The American Shipper Top 10 stories of the year are chosen by you, the reader, throughout the year by simply choosing to read our stories. These are the Top 10 stories on americanshipper.com based on page views, from No. 10 to No. 1.
Atlas Air...
Atlas Air Worldwide Holdings (NASDQ: AAWW) last week reported an eightfold increase in adjusted net income and 25% more revenue in the third quarter compared to last year, but will not return $406 million in emergency coronavirus aid the U.S. government intended for financially battered airlines to retain workers.
The all-cargo carrier and aircraft lessor fully qualified for the federal funds because there was no guarantee the airfreight market would flourish at the time, the program wasn’t...
https://s29755.pcdn.co/news/atlas-air-refuses-to-repay-us-bailout-funds