In response to strong demand for international freight capacity generated through e-commerce and express delivery demands, Atlas Air Worldwide (Atlas Air), the parent company of Atlas Air Inc. and Titan Aviation Holdings, Inc., and majority shareholder of Polar Air Cargo Worldwide, has placed an order with Boeing for four brand-new, 777 Freighters.
Atlas Air is currently expecting delivery of four 747-8 freighters during 2022, the last four Boeing will produce, which will take its 747 Freighter fleet to 53 aircraft. Delivery of the first 777-200LRF will begin in November this year and the remaining three should be delivered in 2023. This order bolster Atlas Air's 777 fleet, which presently includes 14 freighters that the company operates or provides to customers on a dry-lease basis through its Titan Aviation Leasing subsidiary.
The 777-200LRF is the world's largest and longest-range twin-engine freighter, which aligns well with Atlas Air's commitment to the reduction of aircraft emissions, resource consumption and noise.
“These new aircraft will advance our strategic growth plan as we continue to capitalize on strong demand for dedicated airfreight capacity. 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,” John W. Dietrich, Atlas Air Worldwide President and Chief Executive Officer, commented on the transaction.
