Atlas Air wins 747-8F funding

ATLAS Air Worldwide Holdings (AAWW) has secured the finances to buy the final nine of 12 747-8 freighters scheduled for delivery between early 2011 and 2013.

“We are very pleased to secure the financing for the remainder of our 747-8 deliveries,” said Jason Grant, AAWW’s senior vice-president and chief financial officer.

“Although [this type of] financing has generally not been available in the marketplace, the aviation finance community has been quite receptive to both the company and the 747-8 asset. The financing also reflects the strong working relationship we have with our lender group.”

He added that investors had “recognised the relative scarcity value the aircraft will have when they enter operation and our first-mover advantage as the only outsource provider with 747-8s on order”.

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