Atlas obtains freighter finance

ATLAS Air has landed a US$865 million loan from Apple Bank for Savings to finance its final six 747-8Fs.

Three of the first five aircraft in Atlas Air’s order for nine 747-8Fs were delivered to British Airways World Cargo in the fourth quarter of 2011. Two will be flown to Panalpina in mid-2012. All nine -8Fs are expected to be operated under long-term aircraft, crew, maintenance and insurance contracts.

“Terms and rates on the facility are even more attractive than the very favourable terms on our first three 747-8F deliveries,” William Flynn, chief executive officer of Atlas Air Worldwide, comments. “We are the only outsource operator to offer the new 747-8F aircraft.”

SkyWorks Capital acted as advisor to the company in connection with arranging the 2012 facility.

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