Atlas hopes rest on -8F delivery
01 / 08 / 2011
ATLAS Air’s poor second quarter performance is being side-swept by the revised delivery date of its 747-8Fs.
Income for the three months ended 30 June 2011 totalled US$23.8 million against $32.7 million during the 2010 quarter.
Based on a proposed revised schedule from Boeing that the company is reviewing, Atlas Air Worldwide expects to take delivery of its first 747-8F aircraft in October 2011 and to receive two more in November.
“We anticipate further sequential improvement in our third- and fourth-quarter results, driven by increased customer utilisation of our ACMI aircraft, introduction of our 747-8F aircraft into service in the fourth quarter, substantially lower maintenance expense and continued productivity improvement and cost controls,” said William Flynn, president and chief executive officer.
Atlas Air has 12 747-8Fs on order, and has said previously it hoped to receive the first three in the fourth quarter of this year. The three aircraft will be operated by British Airways World Cargo under a five-year wet-lease agreement.