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AAWW - Atlas Air Worldwide Holdings Inc News Story

$70.47 -1.8  -2.5%

Last Trade - 12/05/21

Mid Cap
Market Cap £1.45bn
Enterprise Value £2.59bn
Revenue £2.44bn
Position in Universe 2163rd / 6856

Atlas Air Worldwide Orders Four New Boeing 747-8 Freighters

Tue 12th January, 2021 1:00pm
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PURCHASE, N.Y., Jan. 12, 2021 (GLOBE NEWSWIRE) -- Atlas Air Worldwide
Holdings, Inc. (Nasdaq: AAWW) announced today it has ordered four new Boeing
747-8 freighters in a transaction that furthers the company’s strategic
growth plan. The aircraft will enable the company to meet strong customer
demand in the airfreight market, particularly the fast-growing e-commerce and
express sectors.

The company’s business model provides the flexibility to operate these new
aircraft for customers or take advantage of dry-leasing opportunities through
its Titan Aviation Leasing subsidiary.

The Boeing 747-8 freighter is the most capable, technologically advanced and
environmentally conscious widebody freighter. The 747-8F provides 20% higher
payload capacity and 16% lower fuel consumption than the very capable
747-400F, and has 25% higher capacity than the new-technology 777-200LRF. It
is also the only factory-built freighter with nose-loading capability in
production, which will serve the long-term needs of the airfreight market.
Atlas is the world’s largest operator of Boeing 747 freighter aircraft, with
a total of 53 in its current fleet, including 10 747-8Fs, 34 747-400Fs, five
passenger 747-400s, and four Large Cargo Freighters (LCFs).

Atlas’ investment in these new aircraft underscores its ongoing commitment
to environmental stewardship through the reduction of noise, aircraft
emissions and resource consumption. The 747-8F meets or exceeds the strictest
International Civil Aviation Organization (ICAO) emissions standards and meets
global noise regulations with unlimited deployment. The advanced engines on
the 747-8F reduce noise by approximately 30% compared to the previous
generation of aircraft.

“The 747-8F is the best and most versatile widebody freighter in the market,
and we are excited to bolster our fleet with the acquisition of these four
aircraft,” said John W. Dietrich, Atlas Air Worldwide President and Chief
Executive Officer.

Mr. Dietrich continued: “This significant growth opportunity will enable us
to capitalize on strong demand and deliver value for our existing and
prospective customers. The efficiency and capability of the 747-8F further
complements our longstanding focus on leading-edge technology. Dedicated
freighters – like those operated by our Atlas, Polar and Southern
subsidiaries – will continue to be in demand as the global airfreight
market, particularly the e-commerce and express sectors, continues to grow. We
look forward to continuing to provide world-class service to our customers.”

“The 747 will forever hold a special place in aviation history and we are
honored by Atlas Air’s longstanding commitment to the airplane. Atlas Air
began operations 28 years ago with a single 747 and it is fitting that they
should receive the last 747 production airplanes, ensuring that the ‘Queen
of the Skies’ plays a significant role in the global air cargo market for
decades to come,” said Stan Deal, president and chief executive officer of
Boeing Commercial Airplanes. “With the global air cargo fleet expected to
grow by more than 60% over the next 20 years, we look forward to delivering
these airplanes and supporting Atlas Air’s Boeing fleet well into the

“With our highly-trained pilots, outstanding ground staff, and our ongoing
investments in innovation and our fleet, we continue to position Atlas as a
critical player in the global supply chain and a trusted partner to our
customers,” Mr. Dietrich said.

The new 747-8F order will also provide the company with enhanced flexibility
to balance future capacity needs with customer demand, as a number of its
legacy 747-400F aircraft leases will be up for renewal over the next several

The 747-8Fs are expected to be delivered from May through October 2022. These
aircraft are the last four 747-8Fs that Boeing plans to produce.

About Atlas Air Worldwide:

Atlas Air Worldwide is a leading global provider of outsourced aircraft and
aviation operating services. It is the parent company of Atlas Air, Inc.,
Southern Air Holdings, Inc. and Titan Aviation Holdings, Inc., and is the
majority shareholder of Polar Air Cargo Worldwide, Inc. Our companies operate
the world’s largest fleet of 747 freighter aircraft and provide customers
the broadest array of Boeing 747, 777, 767 and 737 aircraft for domestic,
regional and international cargo and passenger operations.

Atlas Air Worldwide’s press releases, SEC filings and other information may
be accessed through the company’s home page,

About The Boeing Company:

Boeing is the world’s largest aerospace company and leading provider of
commercial airplanes, defense, space and security systems, and global
services. As a top U.S. exporter, the company supports commercial and
government customers in more than 150 countries, leveraging the talents of a
global supplier base. Building on a legacy of aerospace leadership, Boeing
continues to lead in technology and innovation, deliver for its customers and
invest in its people and future growth.

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A photo accompanying this announcement is available at

Atlas Air Boeing 747-8 Freighter 
Atlas Air Worldwide Orders Four New Boeing 747-8 Freighters

GlobeNewswire, Inc. 2021
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