Atlas Air orders two new Boeing 777 freighters
New 777 freighters, which were booked earlier this quarter, are expected to be delivered in the second half of 2024
Atlas Air Worldwide has ordered two new Boeing 777 freighters, driven by on-going strong customer demand for dedicated large widebody airfreight capacity, particularly for cross border e-commerce shipping.
The two new 777 freighters, which were booked earlier this quarter, are expected to be delivered in the second half of 2024, says an official release. "This strategic investment underscores the company’s commitment to growing its 777F platform, and for providing leading-edge aircraft and service offerings to its customers as well as creating more long-haul flying opportunities for its pilots."
Atlas Air most recently ordered four 777 freighters in 2021, which are placed on a long-term aircraft, crew, maintenance, insurance (ACMI) agreement with MSC Mediterranean Shipping Company. Three of these aircraft have been delivered with the fourth 777 expected to be delivered in December 2023, the release added.
“We are excited to add these aircraft to our leading world-class fleet," says Michael Steen, Chief Executive Officer, Atlas Air Worldwide. "These come at a time when retirements of older widebody freighters will significantly increase and when the introduction of new widebody freighter capacity will be limited. We have a deep pipeline of prospective customers interested in these 777 freighters, and we’re confident in our ability to place them under long-term agreements.
“We have a strong and resilient business model that is highly diversified with strong support from our investment partners, which, combined with our unique market position, will allow us to deliver our strategic growth plan. This investment is consistent with our disciplined approach to capital allocation and meets our strict return guidelines for investing in aircraft. We anticipate this transaction will drive strong earnings and cash flow for Atlas, while providing value to our customers."
The new 777 freighters – the highest payload and longest-range twin-engine freighter – deliver high reliability with less fuel use, a reduction of emissions, and a smaller noise footprint, the release added.
“We value our long-standing relationship with Atlas Air as the carrier expands its fleet and strengthens its position as one of the world’s leading air cargo operators,” says Brad McMullen, Senior Vice President, Commercial Sales and Marketing, Boeing. “The best-selling 777 freighter is one of the most capable twin-engine freighters flying, and provides Atlas with the capacity, fuel efficiency and operational flexibility to move cargo and goods for its customers.”
Appoints Artem Gonopolskiy as EVP & CFO
Atlas appointed Artem Gonopolskiy as Executive Vice President and Chief Financial Officer, effective December 1, 2023. Gonopolskiy has been with Atlas for more than 18 years, and has served as the interim Chief Financial Officer since June 15, 2023.
