West Atlantic sells two ATP freighters
28 / 03 / 2018
West Atlantic has announced the sale of two BAE ATP freighters to Nairobi-based EnComm Ltd as part of its strategy to move the aircraft outside of Europe.
The agreement also includes commitments for spares, engineering and training support to assist the assigned operator in setting up its operation.
"This transaction marks the first step in reallocating our ATP aircraft portfolio into markets and geographies that can capitalise in full on the benefits of this efficient turboprop,” said West Atlantic vice president aircraft management Robert Drews.
"We are now dedicated to providing all necessary support to ensure that the operation is set up as efficiently as possible.”
Financially the transaction will generate a significant contribution to cash flow and net income for the first quarter of 2018, in line with provided guidance.
The operator last year announced plans to move its eight tonne ATP fleet outside of Europe as it found it difficult to find services for the aircraft.
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