Atlas Air acquires two Boeing 777Fs from LATAM Airlines

posted on 7th March 2018 by Jordan Newton
Atlas Air acquires two Boeing 777Fs from LATAM Airlines

Atlas Air Worldwide Holdings has acquired two Boeing 777 Freighters from LATAM Airlines, which it will operate in ACMI (aircraft, crew, maintenance and insurance) service for DHL Express.

Both freighters will be operated through Atlas’ Southern Air subsidiary, with the first starting service this month and the second expected to start flying at the end of the second quarter of 2018.

The first of the two aircraft was previously operated on a CMI (crew, maintenance and insurance) basis for DHL Express by Southern Air. The second aircraft will increase the number of 777Fs owned or operated by Atlas to 12.

Atlas Air Worldwide president and chief executive officer, William J. Flynn said: “These 777 freighters enhance our position in this attractive aircraft type and are consistent with our strategy of growing the operations that we acquired as part of Southern Air.”

Atlas also reported it is currently engaged in discussions with a bank syndicate to finance the two 2012-vintage aircraft and expects to close the financing transaction during the second quarter of 2018.

The expected financial and operating impacts of the two 777F in 2018 were incorporated in the company’s earnings growth framework announced on 22 February. Atlas anticipates that its full-year 2018 adjusted net income will grow by about 25 per cent compared with 2017.