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Atlas Air Worldwide Places Order for Two Additional Boeing 777 Freighters

Atlas Air Worldwide has today announced the order for two additional Boeing 777 Freighters to meet customer demand for widebody aircraft capacity, especially for cross-border and e-Commerce shipping.


Atlas Air Boeing 777F Rendering - Courtesy Atlas Air Worldwide

On Tuesday (November 28, 2023), Atlas Air Worldwide announced that they have ordered two additional Boeing 777 Freighters.  The new order is driven by ongoing strong customer demand for large widebody airfreight capacity, especially for cross-border and e-Commerce shipping.  Atlas Air’s two new 777 Freighters, which were booked earlier this year, are scheduled for delivery during the second half of 2024.  The company previously ordered four 777 Freighters in 2021, which have been placed on long-term ACMI agreement with MSC Mediterranean Shipping Company SA.  Three of these aircraft have already been delivered, with the fourth expected to arrive in December 2023.


In Tuesday’s aircraft order announcement, Atlas Air Worldwide’s Chief Executive Officer, Michael Steen, said,


“We are excited to add these aircraft to our leading world-class fleet.  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.”


Also commenting on Atlas Air’s incremental Boeing 777F order, Boeing’s SVP – Commercial Sales and Marketing, Brad McMullen, 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.  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.”


New York-based Atlas Air Worldwide is a leading global provider of third-party aircraft and aviation operating services.  Company subsidiaries include Atlas Air and Titan Aviation Holdings.  Additionally, the company owns a majority stake in Polar Air Cargo Worldwide.  Together, the Atlas Air family of companies operate the world’s largest Boeing 747 Freighter fleet.  The company also offers their customers a wide selection of Boeing 747, 777, 767 and 737 aircraft for domestic, regional and international cargo and passenger operations.  On March 17, 2023, Atlas Air Worldwide was taken private by an investment group led by funds managed by affiliates of Apollo Global Management, along with investment affiliates of J.F. Lehman & Company and Hill City Capital.


 

Source: Atlas Air Worldwide 

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