Tag Archives: 747-800F

Cargolux takes delivery of its 30th direct delivery Boeing 747, adds a special decal in honor of Joe Sutter

Cargolux 747-8F Delivery Honors Joe Sutter

Boeing (Chicago, Seattle and Charleston) and Cargolux Airlines (Luxembourg) are celebrating the 30th direct delivery of a 747 Freighter to the Luxembourg-based cargo carrier. To mark the occasion, Cargolux’s latest 747-8 Freighter carries a special decal of the “Father of the Boeing 747,” Joe Sutter, the Boeing engineer who led the team that designed the airplane.

Cargolux 747-8F Delivery Honors Joe Sutter

Photos Above: Boeing. The pictured Boeing 747-8R7F LX-VCL (msn 35823) with the special Joe Sutter emblem on the nose was officially handed over to the carrier on March 5.

This latest delivery was the 12th 747-8 Freighter to join Cargolux’s fleet, with the Luxembourg carrier becoming the world’s first operator of the airplane type in October 2011. Prior to the introduction of the 747-8 Freighter, Cargolux took delivery of the first of two 747-200 Freighters in 1979 and in 1993 also became the world’s first operator of the 747-400 Freighter, taking a total of 16 747-400 Freighters.

In January 2015, Cargolux began operations to Manaus Airport in Brazil with a 747-8 Freighter carrying a full load of machinery spare parts and telecommunications equipment. In the process, Manaus Airport became the 100th commercial airport that Cargolux serves with the 747-8 Freighter, underlining the airplane’s incredible versatility in the world cargo market.

Cargolux currently has two unfilled orders for 747-8 Freighters, with the all-Boeing carrier operating a fleet composed entirely of 747-400 Freighters and 747-8 Freighters.

Cargolux aircraft slide show: AG Airline Slide Show

Silk Way West orders three additional Boeing 747-800 freighters

Silk Way West  (formerly Silk Way Airlines) (Baku) and Boeing (Chicago, Seattle and Charleston) have announced an order for three 747-8 Freighter airplanes valued at more than $1.1 billion at current list prices.

Silk Way West is an enterprise of the Silk Way Group, which includes 23 companies working in the aviation industry and related services. The airline currently operates seven Boeing airplanes, including two 767-300 Freighters, three 747-400 Freighters and two 747-8 Freighters.

According to Boeing, “there are now 56 747-8 Freighters in service with eight customers, the 747-8 Freighters have logged more than 500,000 flight hours and more than 88,000 flight cycles. They are performing with the highest dispatch reliability and utilization of any four-engine airplane in service.”

Copyright Photo: Royal S. King/AirlinersGallery.com. Silkway Azerbaijan Cargo (Silk Way West Airlines) Boeing 747-83QF VQ-BVC (4K-SW882) (msn 44937) lands at Paine Field near Everett.

Silk Way West aircraft slide show: AG Airline Slide Show

AG No Ads-Beautiful

Silk Way West Airlines and Boeing to finalize the purchase of three 747-8 freighters

Silk Way West Airlines (Silkway Azerbaijan Cargo) (formerly Silk Way Airlines) (Baku) and Boeing (Chicago, Seattle and Charleston) have announced that the two companies are finalizing terms and working toward a purchase agreement for three 747-8 Freighter airplanes.

When finalized, the contract will be valued at more than $1.1 billion at current list prices. The order will be posted on Boeing’s Orders & Deliveries website once all contingencies are cleared.

Silk Way West Airlines is an enterprise of the Silk Way Group, which includes 23 companies working in the aviation industry and related services. The airline currently operates seven Boeing airplanes, including two 767-300 Freighters, three 747-400 Freighters and two 747-8 Freighters.

Silk Way Airlines became Silk Way West Airlines on July 1, 2012.

Top Copyright Photo: Royal S. King/AirlinersGallery.com (all others below by Silk Way West Airlines). Boeing 747-83QF VQ-BVC (4K-SW882) (msn 44937) prepares to land at Paine Field. This freighter was delivered on August 29, 2014.

Silkway Azerbaijan Cargo 747-800F VQ-BVC (10)(Title) PAE (Silk Way)(LRW)

Silkway Azerbaijan Cargo 747-800F VQ-BVC (10)(Tail) PAE (Silk Way)(LRW)

Silkway Azerbaijan Cargo 747-800F VQ-BVB (10)(Grd) PAE (Silk Way)(LRW)

Silk Way West Airlines aircraft slide show:

Silk Way West logo (LRW)

Route Map:

Silk Way West 1.2015 Route Map

 

 

 

Silk Way Airlines takes delivery of its first two Boeing 747-800F freighters

Boeing (Chicago and Seattle) and Silk Way Airlines (Baku, Azerbaijan) today (August 28) celebrated the delivery of the airline’s two 747-83QF freighters. The first airplane (4K-SW881, msn 44444) was delivered last week and the second airplane (4K-SW882, msn 44937) was delivered today (August 28).

To date, Boeing has delivered 49 747-8 Freighters.

Copyright Photo: Royal S. King/AirlinersGallery.com. Boeing 747-83QF VQ-BVC (4K-SW882) lands after a test flight at Paine Field near Everett, WA.

Silk Way Airlines: AG Slide Show

Alaska Airlines’ new TV commercial with Seattle Seahawks QB Russell Wilson

Alaska Airlines (Seattle/Tacoma) has introduced this new TV commercial, mostly for showing in the Pacific Northwest hometown market featuring Seattle Seahawks and Super Bowl champion quarterback Russell Wilson.

In addition, Boeing 737-990 ER N453AS (msn 36354) is now wearing special “Go Russell!” markings.

Alaska 737-900ER WL N453AS (90-Go Russell)(Close-Up)(Alaska)(LRW)

Copyright Photo: Alaska Airlines.

The airline issued this short statement with the video above:

Champions never rest. We’ve enlisted the support of our Chief Football Officer quarterback Russell Wilson to put our employees through the paces at a specially designed training camp.

The NFL teams have started their pre-season schedule.

Alaska Airlines: AG Slide Show

Bottom Copyright Photo: Nick Dean/AirlinersGallery.com. Now repainted, Boeing supported the hometown Seahawks during the previous Super Bowl with this Boeing 747-87UF N770BA (msn 37564) which was painted in the colors of the National Football League (NFL) team.

Atlas Air Worldwide Holdings reports 2Q adjusted net income of $15.9 million

Atlas Air Worldwide Holdings (Atlas Air and Polar Air Cargo) (New York) reported adjusted net income of $15.9 million for the second quarter.

The company issued this statement:

Atlas Air Worldwide Holdings, Inc., a leading global provider of outsourced aircraft and aviation operating services, announced adjusted net income attributable to common stockholders of $15.9 million, or $0.63 per diluted share, for the three months ended June 30, 2014, compared with $20.4 million, or $0.79 per diluted share, for the three months ended June 30, 2013.

On a reported basis, net income attributable to common stockholders in the second quarter of 2014 totaled $29.6 million, or $1.17 per diluted share, compared with $20.1 million, or $0.78 per diluted share, in the year-ago quarter.

“We are off to a good start in 2014. Airfreight demand is improving, and we are encouraged about our full-year outlook,” said William J. Flynn, President and Chief Executive Officer. “As we continue to gather additional insight into second-half yields, demand and military requirements, we are maintaining our full-year earnings framework.”

Mr. Flynn added: “Atlas is an entrepreneurial company. Our second-quarter results illustrate the positive contributions being generated by the investments we’ve made and the initiatives we’ve undertaken. In the face of an uncertain airfreight market and an anticipated decline in military cargo demand, we have diversified our business mix and are driving business resilience.

“Results within our ACMI segment are benefiting from modern 747-8 freighters as well as an increase in flying for our CMI customers. In Dry Leasing, the investments we’ve made since early 2013 in attractive 777 freighters on long-term leases with strong customers are driving a significant increase in contribution from highly predictable revenue and earnings streams.

“In addition, the expansion of our 767 platform and our growth into military and commercial passenger charter operations are providing added strength, complementing the improvement in airfreight demand.

“Led by the strength of our brand, our global market leadership in outsourced aircraft assets and services, and our ability to work closely with our customers as they enhance their route networks and grow their businesses, we are well-positioned to take advantage of market opportunities and improvement – and to continue our focus on longer-term business growth.”

Adjusted earnings in the second quarter of 2014 exclude an income tax benefit of $24.0 million, or $0.95 per diluted share, due to beneficial tax planning related to the tax treatment of extraterritorial income. This was partly offset by a noncash loss of $9.4 million after tax, or $0.37 per diluted share, resulting from the trade-in of used spare engines for new engines under the company’s engine-acquisition program, as well as additional charges totaling $1.0 million after tax, or $0.04 per diluted share, which were primarily related to the company’s U.K. affiliate, Global Supply Systems Limited.

Adjusted earnings in the second quarter of 2013 exclude an after-tax loss of $0.6 million, or $0.02 per diluted share, on the early extinguishment of debt, partly offset by an after-tax gain of $0.3 million, or $0.01 per diluted share, on the disposal of aircraft.

Second-Quarter Results

Profitability in our ACMI business during the second quarter reflected an increase in 747-8F revenue and an increase in CMI flying, offset by higher maintenance expense for aircraft operating in this segment.

ACMI revenues benefited from an increase in our average rate per block hour driven by our 747-8Fs, but were impacted by a decline in block-hour volumes related to the return of three 8Fs from British Airways in April and early May. This decline was partially offset by the placement of two of the 8Fs with DHL Express in May, the start-up of ACMI 8F flying for BST Logistics in February 2014 and Etihad in May 2013, as well as the start-up of ACMI 747-400 flying for Astral Aviation in September 2013. Block-hour volumes during the second quarter also reflected an increase in CMI Dreamlifter flying for Boeing and the initiation of CMI 767-200 passenger aircraft service for MLW Air during the third quarter of 2013.

In Dry Leasing, revenue and profitability grew following the addition of three 777F aircraft in January 2014 and two in July 2013, which raised our 777F fleet count to six. Each of these aircraft are leased to customers on a long-term basis.

In AMC Charter, results benefited from an increase in the volume of passenger flying on higher-yielding 747-400 aircraft, partially offset by a decrease in demand for cargo flying. Segment results in Commercial Charter reflected a decrease in market rates and increases in maintenance and crewmember travel expense, partially offset by an increase in block-hour volumes.

Reported earnings for the period reflected an effective income tax rate benefit of 461.0%, driven by tax-planning efforts regarding a federal income tax benefit related to the treatment of extraterritorial income from the offshore leasing of certain of our aircraft.

Half-Year Results

For the six months ended June 30, 2014, adjusted net income attributable to common stockholders totaled $27.3 million, or $1.08 per diluted share, compared with $26.3 million, or $1.01 per diluted share, for the six months ended June 30, 2013.

On a reported basis, first-half 2014 net income attributable to common stockholders totaled $37.5 million, or $1.49 per diluted share, compared with $40.1 million, or $1.54 per diluted share, in the first half of 2013.

Cash and Short-Term Investments

At June 30, 2014, our cash, cash equivalents, short-term investments and restricted cash totaled $299.2 million, compared with $339.2 million at December 31, 2013.

The change in position reflected cash provided by operating and financing activities offset by cash used for investing activities.

Net cash used for investing activities during the first half of 2014 primarily related to the purchase of three 777F aircraft for our Dry Leasing business.

Net cash provided by financing activities primarily reflected proceeds from the issuance of debt in connection with the acquisitions of these aircraft. Those proceeds were partially offset by payments on debt obligations and debt issuance costs.

Outlook

We are encouraged by our performance in the first half of 2014 and the positive direction of market trends so far this year.

Airfreight volumes continue to improve, and recent forecasts suggest that airfreight demand may grow by several percentage points in 2014 – the first real growth after three essentially flat years. Airfreight yields continue to lag behind, however, and there is still limited visibility into peak-season yields, demand and second-half military requirements. As a result, we are maintaining our earnings outlook for the full year.

On a sequential basis, per-share earnings in the third quarter of this year should improve over our adjusted second-quarter results by an increment similar to the increase between our first- and second-quarter adjusted earnings.

For the full year, we expect total block hours to be comparable to 2013, with more than 70% in ACMI, approximately 10% in AMC Charter, and the balance in Commercial Charter. Our Dry Leasing segment should show dramatic growth compared with 2013. While our share of military flying, mainly in passenger service, has increased due to a reduction in the number of carriers serving the market and our ability to capitalize on additional flying opportunities, we continue to expect an overall decline in military demand, primarily in cargo, compared with 2013.

We also expect aircraft maintenance expense to total approximately $180 million in 2014, with depreciation of approximately $120 to $125 million. Core capital expenditures this year are expected to total approximately $45 to $50 million, mainly for spare parts for our expanded fleet.

We remain confident in the resilience of our business model, as well as our ability to adapt to the market and to leverage the scale and efficiencies in our operations. The business initiatives we have undertaken and the investments we have made have enabled the company to deliver meaningful earnings in any environment.

Should 2014 be the inflection point when growth returns to commercial airfreight and yields improve, our business initiatives and the investments we have made have positioned Atlas to be one of the prime beneficiaries.

Atlas Air Worldwide is the parent company of Atlas Air, Inc. (Atlas) and Titan Aviation Leasing (Titan), and is the majority shareholder of Polar Air Cargo Worldwide, Inc. (Polar). Through Atlas and Polar, Atlas Air Worldwide operates the world’s largest fleet of Boeing 747 freighter aircraft.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Boeing 747-87UF N852GT (msn 37571) of Atlas Air taxies at Anchorage, AK.

Atlas Air: AG Slide Show

Polar Air Cargo: AG Slide Show

AirBridgeCargo Airlines is coming to Munich on May 9

AirBridgeCargo Airlines-ABC (Moscow-Sheremetyevo), the largest Russian scheduled cargo airline and part of Volga Dnepr Group, is further expanding its services in Central Europe by introducing direct services to/from Munich with a Boeing 747 freighter on May 9.

The new Munich flight to Moscow’s Sheremetyevo Airport will be in addition to the existing 4 weekly Boeing 737 flights operated by Atran Cargo Airlines, also part of Volga Dnepr Group. ABC Boeing 747 all-cargo flight between the Bavarian capital and ABC hub in Moscow (Sheremetyevo) will be on Friday midday, providing ideal end of the week departure time for European customers.

Germany has always been one of the most important markets contributing to ABC’s growth over the last decade. Earlier this year ABC launched scheduled Boeing 747 services to and from Leipzig, extending the Group’s strong association with the airport, where it has invested in a modern aircraft maintenance and repair facility to serve a variety of aircraft types (Boeing 747-200/300/400/8 (CF-50/80, PW4000), Boeing 737CL).

AirBridgeCargo’s scheduled network covers major markets in Asia (China, Japan and Korea), Europe (the Netherlands, France, Germany, Italy, Spain and Sweden) and North America (Chicago, Dallas).

The airline’s fleet is one of the youngest in the industry and includes 12 Boeing 747s: four Boeing 747-400ERFs, three Boeing 747-400Fs and five brand new Boeing 747-8Fs. The average fleet age is about 4 years.

Copyright Photo: Arnd Wolf/AirlinersGallery.com. Boeing 747-8HVF VQ-BLR (msn 37668) taxies at Amsterdam’s Schiphol Airport (AMS).

AirBridgeCargo Aircraft Slide Show: CLICK HERE

Routes to Europe:

AirBridgeCargo 5.2014 European Route Map