Atlas Air Worldwide Holdings, Inc. announced today it has ordered four new Boeing 777 freighters in response to strong customer demand for dedicated international wide-body airfreight capacity, particularly in the fast-growing e-Commerce and Express markets.
The first of the four new 777-200LRFs is expected to be delivered in November 2022 with the other three expected to be delivered throughout 2023.
This investment will bolster Atlas’ 777 fleet, which currently includes 14 freighters that the company operates or provides to customers on a dry-lease basis through its Titan Aviation Leasing subsidiary.
“We are excited to expand our fleet and service offerings for our existing and prospective customers with these four new 777s,” said John W. Dietrich, Atlas Air Worldwide President and Chief Executive Officer.
“With the best team in the industry as well as our focus on innovation and prudent fleet management, Atlas is serving the evolving needs of the global supply chain and delivering value for our customers”.
“These new aircraft will advance our strategic growth plan as we continue to capitalize on strong demand for dedicated airfreight capacity,” Mr. Dietrich added.
This investment aligns with our disciplined approach to deploying capital and meets our strict return guidelines when investing in aircraft.
“We anticipate this transaction will drive strong earnings and cash flows, and enhance shareholder value”.
Atlas’ investment in these new 777s – the largest and longest-range twin-engine freighter in the world – underscores the company’s ongoing commitment to environmental stewardship through the reduction of aircraft emissions, resource consumption and noise.
“We are honored that Atlas Air Worldwide, as a global leader in airfreight, has once again selected to grow with Boeing and our freighter family,” said Ihssane Mounir, Boeing Senior Vice President of Commercial Sales and Marketing.
“These new 777 freighters provide Atlas with more capacity, fuel efficiency and operational flexibility for its customers”.