Atlas Air close to Chapter 11

[neil armstrong]

Here is the news LinkYahoo Biz news (http://biz.yahoo.com/djus/030703/1046000633_2.html)


Neil

[CR2]

Anything to the rumour I hear that either Fedex or UPS will try and take over Atlas? The logic being to get hold of the Polar transpac traffic rights.
Just something that was mentioned to me this morning.

[acmi48]

cr2-looking at ATW rankings POLAR seem comfortable,the question mainly is the 400f issue for atlas with the restructuring of the payments -basically the next block of payments if i understand correctly is due at beginning of august after a partial defferal in july

[Beaver Driver]

Actually POLAR has not made money at Atlas since we bought them, regardless of what the crews might say. FEDEX or UPS will not be trying a takeover because of the "poison pill" clause in Atlas stock stucture that would make it too expensive even with the stock so depressed.

[GlueBall]

What Atlas ought to do is to not put all of its eggs into one nest. Instead of surviving on ACMI hand-outs, it should develop and market its own scheduled cargo.

[411A]

Glueball,

Personally think your phrase should be...

"What Atlas should have done is...."

Suspect it may well be too late to pull the bacon out of the fire now.
Seems the heady days of 'Atlas can do no wrong...' have disappeared for good.

[SilverThunder]

411A, Just curious why you seem to be happy about the state of aviation today? I have worked for three airlines that went out of business. When I see a comrade about to loose a job I don't celebrate. I wonder about your past and your motives.

Just in case you were wondering though:

Only the lean and strong survive in this business. To ensure survival one must also adapt and change.

Atlas (AAWWH) the third largest freight hauler in the world will survive this economic hick-up.

[Schrodingers Cat]

The reason 411a is so happy is that he runs the sort of vulture operation that fights over the carcase of dead giants like atlas....:yuk:

[acmi48]

atlas people i know dont seem to concerned. sort of internal restructering under the C11 umbrella, meanwhile seems ex Atlas guru " the opposite of left" has teamed up with the a certain 'toreau' in their ruski enterprise ,expect them to take a major premiership football clubover in a few years:O..hopefully the 'manure;

[411A]

Actually S Cat, it leaves extra experienced pilots on the market from which to choose...:E

Personally think the Atlas business model was wrong...they placed to many eggs in one basket.

[HotDog]

411A, I don't mean to be disrespectful but what is happening to your L1011/DC-10 cargo venture out of Subic? Is your chief F/E still up to it? If not, I'm a bit younger and available.:ok:

[411A]

HotDog,
Almost anyone would be younger than BA...:uhoh:
A few glitches along the way, but have contracts in hand, so onward it goes, 727/DC10 mix. L10, sorry to say, just did not have the payload/range required.
Our plan has been revised to enable new opportunities to be included, at the request of the financial guys, without whom we would have been up the creek, without a paddle.
Strong possibility of B747 equipment within a short time if all goes according to plan.

[HZ123]

Iwas under the impression that Atlas were operating 3 x 744 for and on our behalf or is this now operated by someone else.

[Dan Winterland]

BA World Cargo contract is with Global Supply Systems. 51% UK owned, 49% owned by Atlas. Aircraft are G regs, company has a UK AOC.

[Thermal]

The link does not seem to work. Any other links to this story?

[HZ123]

Futher to my last BA board (July 2003) has approved the lease of a third B744F with immediate effect. However it makes no mention of which company will provide it and no mention of Atlas at all.

[JW411]

Atlas Air close to Chapter 11:

I can't see what all the fuss is about. The only airlines worth working for in America have already declared Chapter 11 at least twice!

To have never declared Chapter 11 is definitely infra dig. This is a non-story.

[Dan Winterland]

HZ123, GSS are in the process of aquiring a third aircraft. They are on an ACMI (Aircraft Crew Maintenace Insurance) contract with BA World Cargo. That will be it

[acmi48]

it will be an atlas a/c and the sched will far east india england
..ba are becoming freight minded at last.. not since the heady days of the 707 have they fone this far

gss will be giving club card points soon for bookable freight:p

[HZ123]

Wrong we had the Classic 747 G-KILO with Roller engines but sadly we made a fist of it.