Atlas Air Worldwide Holdings, Inc. (AAWW), a leading global provider of outsourced aircraft and aviation operating
services, today announced that its Atlas Air, Inc. unit has taken delivery of a
fifth Boeing 747-8 Freighter.
It is the second aircraft of the type to be placed into service for
Panalpina under a previously announced multiyear aircraft, crew, maintenance
and insurance (ACMI) outsourcing contract.
The newest freighter will offer Panalpina, a Swiss-based global freight
forwarding and logistics services provider, additional next-generation
performance in payload, fuel efficiency, total cost per tonne-mile, and
environmental compliance.
“With two 747-8 freighters now in service, Panalpina can further take
advantage of increased capacity and revenue-generating capability while
improving fuel efficiency and the ability to offer its customers a unique and
highly flexible solution for time-definite airfreight,” said William J. Flynn,
President and Chief Executive Officer.
Atlas Air expects to receive two additional 747-8Fs in 2012 and two in the
first half of 2013 for a total of nine. As previously announced, Atlas has
received a commitment from Apple Bank for Savings to finance the remaining
deliveries, subject to customary conditions.
The acquisition of this latest 747-8F was financed
in part with proceeds from a term loan and was subsequently refinanced by the
issuance of $142.7 million of 12-year, secured bonds. These bonds, which are
guaranteed by the Export-Import Bank of the United States, have been priced at
1.73% and are scheduled to close on July 31, 2012. BNP Paribas and KGS Alpha
Capital Markets are acting as joint lead bookrunners
