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LATEST NEWS
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Friday, January 7th, 2022
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In response to strong demand for international freight capacity generated through e-commerce and express delivery demands, Atlas Air Worldwide (Atlas Air), the parent company of Atlas Air Inc. and Titan Aviation Holdings, Inc., and majority shareholder of Polar Air Cargo Worldwide, has placed an order with Boeing for four brand-new, 777 Freighters.
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Atlas Air is currently expecting delivery of four 747-8 freighters during 2022, the last four Boeing will produce, which will take its 747 Freighter fleet to 53 aircraft. Delivery of the first 777-200LRF will begin in November this year and the remaining three should be delivered in 2023. This order bolster Atlas Air’s 777 fleet, which presently includes 14 freighters that the company operates or provides to customers on a dry-lease basis through its Titan Aviation Leasing subsidiary.
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The 777-200LRF is the world’s largest and longest-range twin-engine freighter, which aligns well with Atlas Air’s commitment to the reduction of aircraft emissions, resource consumption and noise.
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“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,” John W. Dietrich, Atlas Air Worldwide President and Chief Executive Officer, commented on the transaction.
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AerSale, a leading global provider of aviation products and services, has inducted the first of its 24-owned Boeing 757-200 aircraft for passenger-to-freighter (P2F) conversion at its heavy-MRO centre in Goodyear, AZ. All 24 of these aircraft are powered by Rolls-Royce RB211-535 engines, making this fleet the narrow-body freighter of choice due to its attractive payload, range and cost of ownership characteristics.
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AerSale’s fleet of 24 B757-200 aircraft are presently stored at its Roswell, New Mexico MRO facility. AerSale will ferry these aircraft to its Goodyear, AZ facility for the performance of P2F conversions.
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STS Aviation Group (STS) has announced the promotion of Ethan Steele to Sr. Vice President / General Manager of STS Engineering Solutions.
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For the past 22 years, Steele has been a huge part of STS Aviation Group’s growth and success as a key member of its business development unit. Moving forward, STS’ executive leaders have nothing but faith and confidence in Steele as he gears up to guide the future profitability of STS Engineering Solutions under the direction of Mark Smith, President of STS Aviation Group’s MRO division.
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On the heels of Steele’s promotion, STS Engineering Solutions will see its former Sr. Vice President of Engineering, Randy Steenholdt, transition into a part-time consulting role as he moves into semi-retirement after an illustrious 40-year career in the aircraft maintenance, repair and overhaul industry.
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Air Lease Corporation has announced the pricing of its public offering of US$750.0 million aggregate principal amount of 2.20% senior unsecured medium-term notes due January 15, 2027 (the 2027 notes) and US$750.0 million aggregate principal amount of 2.875% senior unsecured medium-term notes due January 15, 2032 (the 2032 notes and, together with the 2027 notes, the notes). The sale of the notes is expected to close on January 12, 2022, subject to satisfaction of customary closing conditions.
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The 2027 notes will mature on January 15, 2027 and will bear interest at a rate of 2.20% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, commencing on July 15, 2022. The 2032 notes will mature on January 15, 2032 and will bear interest at a rate of 2.875% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, commencing on July 15, 2022.
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The company intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, the purchase of commercial aircraft and the repayment of existing indebtedness.
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Qatar Airways Cargo has been accredited CEIV Live Animals certification by IATA. The certification applies at Qatar Airways’ Doha headquarters and the QAS Cargo Doha hub, and covers all animals (amphibians, birds, crustaceans, fish, invertebrates, mammals, or reptiles) that Qatar Airways Cargo is authorized to carry as per each respective relevant procedure.
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The cargo airline runs a 4,200 m², air-conditioned, state-of-the-art Live Animal Centre at Hamad International Airport, Doha, which includes dedicated holding areas for animals, horse stalls, pet kennels, access to 24/7 dedicated expert animal health care services and a large 300 m² paddock. Trained staff and pilots make every effort to ensure that the animals experience as stress-free a journey as possible, by arranging the shortest transit times from origin airport to the final destination and adapting the relevant temperature and cabin pressure whilst on board.
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StandardAero has signed a definitive agreement to purchase boutique asset management company PTS Aviation, a worldwide supplier of serviceable aircraft engines, engine components and engine inventory. Founded in 1995, PTS has more than 150 years of combined aviation management experience and significant expertise buying, leasing and selling engines, modules and used serviceable material (USM). PTS, a private company, is headquartered in Miramar, FL. Terms of the transaction were not disclosed.
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The deal marks StandardAero’s tenth acquisition since March 2015. Most recently, the company acquired Signature Aviation’s Engine Repair and Overhaul (ERO) business, an engine MRO provider that includes well-established brands such as Dallas Airmotive, H+S Aviation and International Governor Services.
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