Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) announced today it has ordered four new Boeing 777 freighters in response to strong customer demand for dedicated international wide-body airfreight capacity, particularly in the fast-growing e-Commerce and Express markets.
The first of the four new 777-200LRFs is expected to be delivered in November 2022 with the other three expected to be delivered throughout 2023. This investment will bolster Atlas’ 777 fleet, which currently includes 14 freighters that the company operates or provides to customers on a dry-lease basis through its Titan Aviation Leasing subsidiary.
“We are excited to expand our fleet and service offerings for our existing and prospective customers with these four new 777s. 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,” said John W. Dietrich, Atlas Air Worldwide President and Chief Executive Officer.
“These new aircraft will advance our strategic growth plan as we continue to capitalize on strong demand for dedicated airfreight capacity. This investment aligns with our disciplined approach to deploying capital and meets our strict return guidelines when investing in aircraft. We anticipate this transaction will drive strong earnings and cash flows, and enhance shareholder value,” Mr. Dietrich added.
Atlas’ investment in these new 777s – the largest and longest-range twin-engine freighter in the world – underscores the company’s ongoing commitment to environmental stewardship through the reduction of aircraft emissions, resource consumption and noise.
“We are honored that Atlas Air Worldwide, as a global leader in airfreight, has once again selected to grow with Boeing and our freighter family. These new 777 freighters provide Atlas with more capacity, fuel efficiency and operational flexibility for its customers,” said Ihssane Mounir, Boeing Senior Vice President of Commercial Sales and Marketing.
In addition to its 777 fleet, Atlas is the world’s largest operator of Boeing 747 freighter aircraft, with 49 in its current fleet. As previously announced, the company will take delivery of four new 747-8 freighters during 2022, with the first delivery expected in May. These aircraft are the last four 747 freighters Boeing will produce. The company also operates and leases sizable fleets of 767 and 737 aircraft for domestic, regional and international cargo and passenger operations.