Generated by the decision in 2017 to start marketing spare BAE ATP-F aircraft for dry-leasing and sale West Atlantic can today announce that an agreement has been reached for the sale of two BAE ATP freighters to EnComm Ltd., based out of Nairobi, Kenya. The agreement also includes commitments for spares, engineering and training support to assist the assigned operator in setting up its operation.
As part of the transaction West Atlantic also brokered an additional two BAE ATP passenger aircraft, currently owned by one of the Group’s collaboration partners.
This transaction marks the first step in reallocating our ATP aircraft portfolio into markets and geographies that can capitalise in full on the benefits of this efficient turboprop”, stated West Atlantic’s VP Aircraft Management Robert Drews, adding “we are now dedicated to providing all necessary support to ensure that the operation is set up as efficiently as possible.”
Financially the transaction will generate a significant contribution to cash flow and net income for the first quarter of 2018, in line with provided guidance.