Member-only story
Aviation
Atlas Air Riding High on Cargo Demand, Orders Four 777s to Keep Up
Riding the surge of demand for air cargo capacity, Atlas Air announced an order for 4 additional 777 freighters.
The order will bring the total in the fleet to 18. That’s in addition to it’s 747 & 767 widebody freighters. Some of these will be leased to other carriers through its Titan Aviation subsidiary.
The carrier also operates a fleet of 8 narrowbody 737’s, all of which fly under lease for Amazon Air (yes, that Amazon). The carrier also has 19 aircraft dedicated to flying for the e-commerce giant.
“We are excited to expand our fleet and service offerings for our existing and prospective customers with these four new B777s. With the best team in the industry as well as our focus on innovation and prudent fleet management, Atlas is serving the evolving needs of the global supply chain and delivering value for our customers,”
~John W. Dietrich, Atlas Air Worldwide President and Chief Executive Officer/
With the passenger airlines grounding many aircraft during the pandemic, demand for capacity has skyrocketed.
That may be bad news for shippers, but its great news for outfits like Atlas- carriers whose core function is meeting demand/moving freight. Atlas recently reported revenues exceeding $1B for the 3rd quarter. In November of 2020, the company predicted they’ll exceed that for the 4th quarter.
The company will take delivery of the first airframe on November 2022, with the others being delivered throughout 2023.
Disclosure: I own shares in Atlas Air (AAWW)
Thanks for reading! If you enjoyed this story, you can directly support my work by joining Medium. If you prefer, you can head over to Ko-Fi and buy me a coffee. Connecting with me on Twitter is also a great way to stay updated on what I’m up to.
