Atlas officially furloughed the remaining FEs effective Feb 29.
They are parking classic tail 524 on Feb 2, leaving 2 classics in the fleet: 355, 522.
Remaing classics are off the schedule at the end of Feb.

ALL classic training for Feb and Mar is cancelled.

Training is building classes for the approx. 110 classic pilots to transition to 400/8.
Number will likely shift lower due retirements/medicals.

Historic class size is limited to 12 starting every three weeks.

 

Any idea how they determine training order? i.e. Junior to Senior? CA to FO?

 

For all of those fellow swimmers...I've decided to rent a party barge until we get a phone call. No sense in wearing ourselves out swimming while we can have a party and enjoy coldies! Welcome aboard!! Sounds like we may be here a while!

 

I like your style. Might as well light the grill, throw some Buffett on, grab a cold one, and weigh anchor 'till the fall, 'cause it sounds like the summer is booked.

It will be worth the wait.

 

522 has been gone for a while, think you mean 523

 

From the financial wires today. More iron on the way.

PURCHASE, N.Y.--(BUSINESS WIRE)--Feb. 1, 2012-- Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), a leading global provider of outsourced aircraft and aviation operating services, today announced that its Atlas Air, Inc. unit has entered into an $865 million term-loan facility with Apple Bank for Savings, guaranteed by the Export-Import Bank of the United States, to finance the company’s six remaining B747-8F aircraft deliveries. The aircraft are expected to be placed in Atlas Air’s international ACMI (aircraft, crew, maintenance and insurance) service.

When drawn, the facility will consist of six separate 12-year term loans. The six aircraft covered by the facility are expected to be delivered to the company between mid-2012 and mid-2013.

Borrowings under the facility will initially accrue interest at a variable rate. The facility provides for an option to refinance the loans through the issuance of Ex-Im Bank-guaranteed bonds in the capital markets. BNP Paribas Securities Corp. and KGS Alpha Capital Markets have agreed to act as joint lead book runners and managers should the company exercise its option to refinance the loans.

“We are very pleased to have closed on this financing facility for the remainder of our 747-8F deliveries,” said William J. Flynn, President and Chief Executive Officer of Atlas Air Worldwide. “Terms and rates on the facility are even more attractive than the very favorable terms on our first three 747-8F deliveries. The financing reflects the strong working relationship we have developed with our lender group and with Ex-Im Bank, each of whom has been quite receptive to the company and the 747-8F asset.”

Mr. Flynn added: “We are the only outsource operator to offer the new 747-8F aircraft, and we look forward to placing them into service with our customers.”

The 747-8 Freighter, 5.6 meters (18.3 ft) longer than the benchmark 747-400F, is the largest long-haul, heavy freighter in the market with 16 percent more revenue cargo volume compared with the 747-400F. The additional 120 cubic meters (4,245 cubic feet) of volume afforded by the longer fuselage offers space for four additional main-deck pallets and three additional lower-hold pallets. For maximum speed and efficiency, cargo on the 747-8F can be loaded and unloaded using both the nose and side doors.

As previously announced, the first five aircraft in Atlas Air’s order for nine 747-8Fs, including three for British Airways World Cargo that were delivered in the fourth quarter of 2011 and two for Panalpina that are expected to be delivered in mid-2012, have been placed under long-term ACMI contracts.

 

Securing financing for the rest of the 747-8s at very favorable rates is excellent news!

On another note, I have been noticing all of the AMC (troop transport) airlines throughout the industry laying off employees. I think World, Omni, and now Ryan International all have made announcements and I am sure I have missed a few others.

I wonder if Atlas can continue their plans to grow this part of their business at the same time that all of their competitors are pulling back?

 

Are any of the Classic pilots going to the 767???

cliff
HSV

 

Awesome question cliff.

With the 110 number I saw earlier, if you go 12/class every three weeks figure a solid 6 months to work through the classic guys (figure 14 slippage to get a round 96 SWAG). Get to the end---take a deep breath and make sure your growing as predicted.

It most likely means that the poolies are looking at late summer (August?) before they really hit the pool significantly for the -400.

The real wild card that hasn't been posted is what kind of numbers for the 767 they're looking for and how many classic guys will make the leap over.

 

Since they are getting displaced from their equipment, they will most likely all go to the 744, because the 767 has a lower pay scale.

Some might however have bid the 767 if they feel that they could hold higher relative seniority on it than the 744.

They can therefore bump the junior 744 guys out of equipment and base if the vacancies don't exist...