Atlas Air Press Release
 

Press ReleaseSource: Atlas Air Worldwide Holdings, Inc.

Atlas Air Worldwide Holdings Subsidiary Closes Initial PDP Financing for New State-of-the-Art Boeing 747-8 Freighters
Monday February 4, 9:04 am ET $270 Million Facility; Available for Pre-Delivery Deposits on First Five of 12 Next-Generation, Wide-Body Freighter Aircraft Scheduled for Delivery in 2010 and 2011

PURCHASE, N.Y.--(BUSINESS WIRE)--Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW - News), a leading provider of global air cargo services, today announced that its subsidiary, Atlas Air, Inc. (Atlas), has closed on a $270 million financing facility in connection with pre-delivery deposit payments (PDPs) on five next-generation Boeing 747-8 wide-body freighters scheduled for delivery to the Company between February and July 2010.


Required PDPs on the five aircraft, including amounts already paid, total $311 million, with $202 million scheduled to be paid in 2008. The latter figure represents more than 80% of Atlas’ total 2008 PDP requirements on its firm order for 12 747-8F aircraft. Principal amounts outstanding under the PDP facility are to be repaid in tranches upon delivery of each aircraft to Atlas.

Six 747-8Fs are scheduled to be delivered to Atlas in 2010, with six additional deliveries scheduled in 2011. The 747-8 Freighter will represent the largest and most efficient heavy freighter in the market, providing the lowest ton-mile cost of any freighter alternative. The 12 freighter aircraft, along with options and rights to acquire up to an additional 14, anchor a fleet strategy that focuses on the Company’s customers and reinforces AAWW’s position as the most advanced, most efficient, and most reliable provider of leased freighter aircraft and outsourced air cargo services and solutions.

“We are very pleased to achieve PDP financing for our first 747-8s that complements our launch-customer pricing on the aircraft,” said William J. Flynn, AAWW’s President and Chief Executive Officer. “The financing community has been very receptive to both the Company and the asset. The -8s will represent the most fuel-efficient and cost-effective heavy freighter alternative in the market.”

He added: “In addition to the inherent economic and operating advantages of the -8s, the aircraft financing community also recognizes the relative scarcity value the -8s will have when they enter operation and our first-mover advantage as the only outsource provider with -8s on order. Furthermore, our strong operating performance, balance sheet, and prospects for growth – combined with our premier international customer list and our long-term contractual relationships – leverage the attractiveness of the asset.”

Norddeutsche Landesbank Girozentrale, a leading aircraft financier, underwrote the PDP facility and will serve as the lead bank and facility agent. Funds drawn under the facility will bear interest at Libor plus a margin.
According to Boeing generic assumptions, the 747-8 Freighter is capable of flying a maximum structural payload capacity of 140 metric tons (154 short tons) while offering 16 percent more revenue cargo volume and equivalent range when compared to than the 747-400F. The 747-8 Freighter upholds its predecessor’s legendary efficiency with equivalent trip costs and 16 percent lower ton-mile costs than the 747-400F. The 747-8 Freighter will enjoy the lowest ton-mile costs of any freighter, giving operators unmatched profit potential.

Big woooooop

What base is Atlas hiring into?
What are the schedules like?
A friend, who was there for a year, told me he was typically on the road for 3 weeks, then home for 10 days. Would spend 3-5 days in hotels all over the world. Is this true for schedules?
Thanks for the info.

Yes. I have some ACMI experience, and that is pretty much the norm these days. It used to be better, more like 50/50 (week on week off, etc), but as the major airlines have decimated the QOL of the pilots there the second and third tier operators have been able to put the squeeze on their pilots as the bar has been lowered.

Even the FedEx guys are howling about their QOL now, and the UPS guys are getting run pretty hard as well. They get huge paychecks for overtime, however.

If you want to do better, I've heard Southern Air is going to more effecient schedules w/more days off (closer to 50/50) starting this month, and they are hiring which UPS and FedEx are not. It's not the quality operation of a UPS, you'll deal w/plenty of headaches, etc but get some time in there if you need it (quick upgrades right now) and go to the "big show" later.

Like most small outfits they like internal recs, so hit some guys up on these type forums for some help if you need it.

Talked with an Atlas Captain at the job fair at DFW last month. Junior base is Stansted, London. Seventeen-eighteen day lines with travel the day before and day after. Being junior, you could get lines back to back so it could be 40 days before you see home.

I've got family over there, and they can be gone for some long stretches.

Very true...my last trip before resigning was 21 days on ,3 days off leading in to an additional 17 on. I was Jr however based out of STN. It was fun for awhile but a very tough life for a happily married guy.

3 weeks on and 1 week off !!!!! And they actually find guys to do that???

The "other" company is also hiring. You're not out as long.

Interviews that were done on the 30th of January were to fill positions on the 400 based out of Stanstead. This information is from a guy that I personally recommended.

Do a search on this site for Polar or Atlas. There is plenty of information out there.

Everyone on the property now is holding LAX or JFK. Some new hires will get LAX by the start of 09. Majority of those interviewing now will be in STN.

To those Polaroids bashing its sister company and touting hiring. There should be full disclosure as to why. It is NOT based on growth. No aircraft are on order! It is based ONLY on ATTRITION. You mention the poor contract and it should be mentioned as to why the delay on negotiations, do not blame the Atlas pilot group. The spring arbitrator will decide on an important issue and will shed light on the future of both pilot groups. It is one airline right now but that is not for us to decide.

To those who want to apply to Atlas. It is not a bad company. Contract 08 will improve QOL issues. Do not be scared off by bitter former Atlas pilots or bitter, confused, misinformed Polar pilots. Good luck.

Plan on this schedule if you go to work at Atlas.

But, then again, I'm bitter, confused and mis- informed ....

My experience was based on being a Jr. man based out of STN. Like any airline.... life is better for the more Senior. Not bitter or confused:)

Is anyone living in STN? If so does the complany "help" with a COLA or getting your stuff over there? If you live in the UK how would the QOL be?

Hold on a second there quick fire. . . there is a lot of bashing on both sides of the fence. I, nor Springer have done that. The Polar contract IS better for QOL issues. No questions asked. The only thing I will say is that a battle star pin shouldn't have been issued for the Atlas side concerning the strike. Only to those that supported it. You and I both know that there were SCABS that crossed.

As far as the delay in negotiations: Why should we allow senior Atlas Pilots to go with a buyout of Polar IF and only IF it would happen. We wanted five year lock your MEC said no; Prater said meet half way and your MEC still said no. It's all about protection of the certificate. DHL didn't by 49% of Atlas now did they? The company said that they wold bargain scope prior to a merger and now they won't. Once again, it's all about protection.

Sorry for the hijack you are now returned to your regurlarly scheduled programming!

Not everyone is fortunate enough to be gainfully employed at a stable carrier.

I'm glad to be employed at UPS.

Good Luck Atlas guys with "The Ocho"

FF

posted later...Thanks alvrb...I'lll take a look...cheers.

Hi FliFast,

Check post below relating to a screen height of 15ft.

AL

Hi FliFast,

I just noticed you rquested a source for the reduced screen height a while back.

It's under Part 25.113 of the e-CFR's

www.gpoaccess.gov/ecfr/ - 44k


AL

Sorry, no Polar planes flew + no Polar call signs flew = no scabs. You and your MEC have been told this over and over and you still don't get it. Atlas guys crossed your picket just like UPS guys did, that stay at the same hotel in ANC, to fly their own planes and their own contracts. You ONLY scream SCAB at Atlas guys, selective hatred eh....

Your MEC and the Polar pilots were given the opportunity to present your alleged stack of evidence to the ALPA Board investigating the SCAB accusations. One guy showed up with hearsay. Makes you wonder about the integrity of the accusers?

Sorry guys, I have to respond to this BS whenever it shows its ugly face...

Did you just say that UPS and Atlas scabbed Polar, just not using Polar call sign?
Just asking.....

WG

What is this suddenly pprune?

No, of course not and you know better. UPS and Atlas stay at the same hotel in ANC. Polar decided to picket the Hotel? UPS guys were unharassed, and allowed to go to work. Only Atlas folks were targeted, flying their own planes, on our their contracts, just like the UPS guys.

I do ask, was anyone else in the industry checking their cargo for Polar tags during Polars strike? I doubt it, but Atlas guys were climbing all over pallets to make sure no Polar stuff was being moved on our planes, and what do we get for it, attempt to put the S**B tag on us.

Thats funny.

Sounds like a typical Polaroid, I'm sure you tone would be different if the planes had a big old P on the tail :eek:

Just Say NO!
 

Let's not turn this into the PPrune forums!!!!!!

This is exactly why I won't discuss this any further. There is evidence and guys riding in a van that has trash bags over the windows to get to their airplane. Case closed you win. Regardless, we will see what happens after the spring arbitration and we can move on from there.

This forum is a lot better the that "other" one.

As far as the original thread Atlas is hiring and Polar is not. So come on over and join the fun. :D

Can anyone give a little insight on the Polar interview? How about the Atlas interview?

Thanks.

until Atlas gets rid of their practice of reporting any off line travel, and hotel accomodations, etc as imputed income, it's not for me! I don't like the idea of coming home and worrying about a negative paycheck!

Not sure what you mean by offline, and the only hotel taxed is when you are at your base. The only travel taxed is the travel to/from your base. If STN based, they never go there, so no tax. I think it happened once, where a FO got taxed more that he made, very unique situation.

offline transport or dead heading on a carrier other than your own, Still though you are being placed into position for their(Atlas) benefit, and they are charging YOU(the employee) with part of their cost of doing business. granted you can deduct that from your taxes, but not all of it. So you are in essence partially paying ATLAS for the privilege to work there. So, I just don't understand how any one would want to work at a place that engages in such a shady practice.

Educate me please, since I must not have the whole story here.

I'm STN based, and have yet to be taxed. Nice attitude you got there. Maybe you should just keep racking up all that valuable rj time, and stay away from shady old ATLAS.

Whaledriver,

Thank you for clearing up that I appreciate your input.

Fivedayer,

It's really not an attitude, it's economics. If you are required to pay the taxes on things that amount to your company's daily operation. Then are you in essence funding your company, or paying them so you can work for them??

So rather then make snide remarks about the lil' bird that I fly, why don't you explain how it works and as I said in my earlier post educate me.

Or is your remark the direct result of my hitting a sore spot with you Atlas guys?

I only want to know why it is worth working for a company that charges it's employees to go to work-Is that really an attitude???

Coming from a MESA employee, I can see why you are so angry.
Yes the tax system needs to be fixed but it does not happen 99.9% of the time at lease in Europe. I am not based domestically but I do know time spent at the base is minimal.

Giant Pilot and any other Atlas Air pilots,
Do you know how Stansted based pilots can get the rights to live in EU countries other than the UK? I have heard several live in Nice and Barcelona. Is it feasible for Atlas pilots to move to Europe with a family? What do Atlas pilots and their dependents who live in Europe do for healthcare? If anybody has any info or knows somebody I could get in touch with, it would really help me out. Thanks.

3holer