Luke Butler Makes News...
I wonder where the money is coming from....
Australian charter carrier Global Air Group has signed a letter of intent to purchase up to 100 American Utilicraft (AUC) FF-1080 turboprop freighter aircraft.
The deal, which includes a firm order for 50 FF-1080s and 50 options, is valued at approximately $1.2 billion, including a support, spares and training package, says AUC.
AUC says it is preparing to begin construction of its prototype FF-1080 in the coming months, and is eyeing a completion date for fall 2005. The company has been trying to get its FF-1080 freighter concept off the ground for years.
Global Air, which operates a single Boeing 747 freighter, is AUC’s second potential customer. Hong Kong firm WSI in March ordered 300 FF-1080s, including the initial 36 off the production line.
Global Air and AUC expect to finalize an aircraft purchase agreement within the next 60-90 days, and say they are “jointly exploring the various international financing options with a view to the selection of lead managers for the funding of this fleet-purchase package”.
The companies say they are also negotiating a distributorship agreement that will give Global Air exclusive distributorship rights for sales and support in the Europe and Africa markets.