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Atlas Air (Worldwide Holdings) press release:
"FOR IMMEDIATE RELEASE
Contact: Dan Loh (Investors) – (914) 701-8200
Bonnie Rodney (Media) – 914-701-8580
Atlas Air Worldwide Holdings Subsidiary
Places Three 747-8F Aircraft with British Airways
Five-Year Agreement with One of World’s Preeminent Airlines
State-of-the-Art Freighters Expected to Deliver Superior Fuel Efficiency,
Payload Capacity and Loading Capabilities
While Solidifying Long-Term Strategic Partnership
Purchase, N.Y., July 30, 2010 -- Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a leading global provider of air cargo assets and outsourced aircraft operating solutions, today confirmed that its 49%-owned UK subsidiary, Global Supply Systems Limited (GSS), has signed a five-year wet leasing agreement with British Airways Plc to operate three next-generation Boeing 747-8 freighters on behalf of British Airways starting in 2011.
Under this long-term aircraft, crew, maintenance and insurance (ACMI) outsourcing contract, GSS will provide a turnkey solution for British Airways’ cargo division, British Airways World Cargo (BAWC). GSS will lease the 747-8F aircraft that it will operate for BAWC from AAWW’s Atlas Air unit, which expects to take delivery of the aircraft from Boeing in early 2011.
Atlas Air Worldwide Holdings is the only provider of outsourced aviation solutions to offer customers the new 747-8F aircraft, which is expected to deliver market-leading performance in terms of payload, fuel efficiency, total cost per tonne-mile and environmental compliance.
“We are delighted to confirm GSS’ agreement with British Airways, and to extend our longstanding and successful relationship with one of the world’s preeminent airlines,” said William J. Flynn, President and Chief Executive Officer of AAWW. “BAWC is a vital link in the global logistics chain, and it will be one of the first air carriers in the world to benefit from the 747-8F’s leading-edge technology. Through GSS, our new aircraft will give BAWC
increased capacity and revenue-generating capability in a growing airfreight market, while improving fuel economy and providing the lowest tonne-mile costs of any freighter alternative.”
Steve Gunning, Managing Director of British Airways World Cargo, said, “The decision to once again work alongside our long-term freighter partners, GSS and Atlas Air, to upgrade to the Boeing 747-8 freighter was an important step by British Airways World Cargo. It is our view that long-haul freighters form an integral part of our overall business strategy – providing flexibility and capacity on resilient and growing lanes – as we strive for continued excellence in all key areas of the business, including product range, customer service and, of course, network offering.”
The Boeing 747-8 freighter, which will be 5.6 meters (18.3 ft) longer than the 747-400 freighter, is expected to be the largest, most-efficient, long-haul heavy freighter in the market. With a maximum structural payload capacity of 140 tonnes (154 tons), the 747-8F is expected to provide 16 percent more revenue cargo volume compared with the benchmark 747-400F. The additional 120 cubic meters (4,245 cubic feet) of volume afforded by the longer fuselage offers space for four additional main-deck pallets and three additional lower-hold pallets. For maximum speed and efficiency, cargo on the 747-8F can be loaded and unloaded using both the nose and side doors.
Mr. Flynn added: “Our freighter-leasing customers are growth-oriented market leaders, with a strategic focus on cargo. The global scale and scope of our leasing and service solutions enable our customers to effectively expand their capacity and operations, and to capitalize on market opportunities around the world without having to wait for new production freighters to be built or having to commit their balance sheets to new aircraft purchases. Our customers also benefit from additional reliable solutions we provide, including inter-operable crews, flight scheduling, fuel-efficiency planning, and maintenance-spare coverage.
“We anticipate significant growth in our fleet with our new 747-8F aircraft. Together with our modern 747-400 freighters, our aircraft anchor a fleet strategy that focuses on our customers and reinforces our position as the most-advanced, most-efficient, and most-reliable provider of leased freighter aircraft and outsourced aircraft operating services and solutions to the global aviation industry.”
"FOR IMMEDIATE RELEASE
Contact: Dan Loh (Investors) – (914) 701-8200
Bonnie Rodney (Media) – 914-701-8580
Atlas Air Worldwide Holdings Subsidiary
Places Three 747-8F Aircraft with British Airways
Five-Year Agreement with One of World’s Preeminent Airlines
State-of-the-Art Freighters Expected to Deliver Superior Fuel Efficiency,
Payload Capacity and Loading Capabilities
While Solidifying Long-Term Strategic Partnership
Purchase, N.Y., July 30, 2010 -- Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a leading global provider of air cargo assets and outsourced aircraft operating solutions, today confirmed that its 49%-owned UK subsidiary, Global Supply Systems Limited (GSS), has signed a five-year wet leasing agreement with British Airways Plc to operate three next-generation Boeing 747-8 freighters on behalf of British Airways starting in 2011.
Under this long-term aircraft, crew, maintenance and insurance (ACMI) outsourcing contract, GSS will provide a turnkey solution for British Airways’ cargo division, British Airways World Cargo (BAWC). GSS will lease the 747-8F aircraft that it will operate for BAWC from AAWW’s Atlas Air unit, which expects to take delivery of the aircraft from Boeing in early 2011.
Atlas Air Worldwide Holdings is the only provider of outsourced aviation solutions to offer customers the new 747-8F aircraft, which is expected to deliver market-leading performance in terms of payload, fuel efficiency, total cost per tonne-mile and environmental compliance.
“We are delighted to confirm GSS’ agreement with British Airways, and to extend our longstanding and successful relationship with one of the world’s preeminent airlines,” said William J. Flynn, President and Chief Executive Officer of AAWW. “BAWC is a vital link in the global logistics chain, and it will be one of the first air carriers in the world to benefit from the 747-8F’s leading-edge technology. Through GSS, our new aircraft will give BAWC
increased capacity and revenue-generating capability in a growing airfreight market, while improving fuel economy and providing the lowest tonne-mile costs of any freighter alternative.”
Steve Gunning, Managing Director of British Airways World Cargo, said, “The decision to once again work alongside our long-term freighter partners, GSS and Atlas Air, to upgrade to the Boeing 747-8 freighter was an important step by British Airways World Cargo. It is our view that long-haul freighters form an integral part of our overall business strategy – providing flexibility and capacity on resilient and growing lanes – as we strive for continued excellence in all key areas of the business, including product range, customer service and, of course, network offering.”
The Boeing 747-8 freighter, which will be 5.6 meters (18.3 ft) longer than the 747-400 freighter, is expected to be the largest, most-efficient, long-haul heavy freighter in the market. With a maximum structural payload capacity of 140 tonnes (154 tons), the 747-8F is expected to provide 16 percent more revenue cargo volume compared with the benchmark 747-400F. The additional 120 cubic meters (4,245 cubic feet) of volume afforded by the longer fuselage offers space for four additional main-deck pallets and three additional lower-hold pallets. For maximum speed and efficiency, cargo on the 747-8F can be loaded and unloaded using both the nose and side doors.
Mr. Flynn added: “Our freighter-leasing customers are growth-oriented market leaders, with a strategic focus on cargo. The global scale and scope of our leasing and service solutions enable our customers to effectively expand their capacity and operations, and to capitalize on market opportunities around the world without having to wait for new production freighters to be built or having to commit their balance sheets to new aircraft purchases. Our customers also benefit from additional reliable solutions we provide, including inter-operable crews, flight scheduling, fuel-efficiency planning, and maintenance-spare coverage.
“We anticipate significant growth in our fleet with our new 747-8F aircraft. Together with our modern 747-400 freighters, our aircraft anchor a fleet strategy that focuses on our customers and reinforces our position as the most-advanced, most-efficient, and most-reliable provider of leased freighter aircraft and outsourced aircraft operating services and solutions to the global aviation industry.”
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411A,
Part of the (current) contract states that some of the GSS crews must be BA mainline secondees. I believe they transfer to GSS for 3 years with the chance of an extension if required.
Part of the (current) contract states that some of the GSS crews must be BA mainline secondees. I believe they transfer to GSS for 3 years with the chance of an extension if required.
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Part of the (current) contract states that some of the GSS crews must be BA mainline secondees. I believe they transfer to GSS for 3 years with the chance of an extension if required.
After all, BA is a large mature airline, so they should be able to supply some of their own FD crew.
GSS
That is correct, half of any new GSS Commands must be BA Mainline secondees, who stay for a minimum of three years. A number of Capts are retired BA when the retirement age with BA was 55.
A very popular posting for BA co-pilots when I flew for GSS, not many pilots get B744 Capt. experience in their twenties in Europe.
A well run and happy outfit, although the pay could be better!, but thats the reason for the ACMI contract.
A very popular posting for BA co-pilots when I flew for GSS, not many pilots get B744 Capt. experience in their twenties in Europe.
A well run and happy outfit, although the pay could be better!, but thats the reason for the ACMI contract.
stringbender, your comment= smacks of vested interest therefore from a tangible perspective of no value.
411a, i entertain your opinions, because you have seen and more importantly done a lot of stuff (love the L1011) BUT you really need to stop the wind up game. Everyone lives in their own time, if you can't accept that i feel sorry for you and hope you can live with your legacy.
Some people just don't like easy going, relaxed, capable success (GSS in this case). This forum has a talent for bringing such individuals to light.
411a, i entertain your opinions, because you have seen and more importantly done a lot of stuff (love the L1011) BUT you really need to stop the wind up game. Everyone lives in their own time, if you can't accept that i feel sorry for you and hope you can live with your legacy.
Some people just don't like easy going, relaxed, capable success (GSS in this case). This forum has a talent for bringing such individuals to light.
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Stringbender,
GSS is a UK majority owned operator, flying for a UK customer, with UK registered aircraft flown by Europeans based at a UK airport. Nothing to do with the teamsters whatsoever
GSS is a UK majority owned operator, flying for a UK customer, with UK registered aircraft flown by Europeans based at a UK airport. Nothing to do with the teamsters whatsoever
''Sounds like a repeat of loss of N registerd jobs.''
The jobs are for those who have the right to live and work in Europe. The jobs were lost to the N reg about eight years ago when the UK Government decided that after some pressure from a UK union, the flagging out of BA World Cargo to a US ACMI operator had to stop and Atlas handed over the the UK AOC holder, GSS. It's 49% owned by Atlas, and the aircraft are leased from Atlas, but the operation is technically British.
Ironically, it was the IPA and not BALPA who applied the pressure.
The jobs are for those who have the right to live and work in Europe. The jobs were lost to the N reg about eight years ago when the UK Government decided that after some pressure from a UK union, the flagging out of BA World Cargo to a US ACMI operator had to stop and Atlas handed over the the UK AOC holder, GSS. It's 49% owned by Atlas, and the aircraft are leased from Atlas, but the operation is technically British.
Ironically, it was the IPA and not BALPA who applied the pressure.
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As the Atlas press release says, GSS will get Atlas' first THREE 747-8F. What is NOT said but long been told to the flight crews is that the 3 747-400F's currently flown by GSS will return to N-registration and the Atlas certificate. Still a net gain of 3 airframes for the aircrew at Atlas.
So it appears that GSS will not shrink or grow, just swap -400F for -8F.
ACG
So it appears that GSS will not shrink or grow, just swap -400F for -8F.
ACG
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anothercargopilot
As the Atlas press release says, GSS will get Atlas' first THREE 747-8F. What is NOT said but long been told to the flight crews is that the 3 747-400F's currently flown by GSS will return to N-registration and the Atlas certificate. Still a net gain of 3 airframes for the aircrew at Atlas.
So it appears that GSS will not shrink or grow, just swap -400F for -8F.
As the Atlas press release says, GSS will get Atlas' first THREE 747-8F. What is NOT said but long been told to the flight crews is that the 3 747-400F's currently flown by GSS will return to N-registration and the Atlas certificate. Still a net gain of 3 airframes for the aircrew at Atlas.
So it appears that GSS will not shrink or grow, just swap -400F for -8F.
And you have heard this from? J.C. on ProPilot, or your lunch with Flynn and Carlson? Sounds great but so far it is just another rumor! I just love how these things get started!!!
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With a 250 million pound loss for the last quarter (and 8 consecutive quarters of losses) BA is not in a strong position to double their dedicated cargo fleet. FR8Dog - If you spent anytime in the MIA training center in the past 2 years (PC or PT) you would have known that the first 3 -8F's going to GSS and Atlas getting the 3 -400F's back was the plan all along. Lunch with Flynn or Carlson not required.
ACG
ACG
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I'm wondering how BA is going to afford the higher capital lease costs of the -8. Are their load factors so high that the extra range/payload of the -8 is going to be used? If not, they will lose even more money on the deal, and that could make it very short-sighted...
BA don't have to. The contract is ACMI. The lease rates for the aircraft will probably be higher, but I suspect that they have done the maths and it wouldn't be happening if there wasn't a commercial advantage!
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Yes, they do have to. Since GSS exclusively contracts to BA, higher capital lease costs directly translate to higher ACMI rates.
"Commercial advantage" does not always depend on math or common sense. A lot of the time it is "prestige" or "market share" or something else that does NOT help the bottom line...
"Commercial advantage" does not always depend on math or common sense. A lot of the time it is "prestige" or "market share" or something else that does NOT help the bottom line...
