Atlas Air (New York) has taken delivery of a fifth Boeing 747-8F Freighter.
The pictured 747-87UF N851GT (msn 37565) departing from Everett (Paine Field) is the second aircraft of the type to be placed into service for Panalpina under a previously announced multi-year aircraft, crew, maintenance and insurance (ACMI) outsourcing contract.
The newest freighter will offer Panalpina, a Swiss-based global freight forwarding and logistics services provider, additional next-generation performance in payload, fuel efficiency, total cost per tonne-mile, and environmental compliance.
Atlas Air expects to receive two additional 747-8Fs in 2012 and two in the first half of 2013 for a total of nine. As previously announced, Atlas has received a commitment from Apple Bank for Savings to finance the remaining deliveries, subject to customary conditions.
The acquisition of this latest 747-8F was financed in part with proceeds from a term loan and was subsequently refinanced by the issuance of $142.7 million of 12-year, secured bonds. These bonds, which are guaranteed by the Export-Import Bank of the United States, have been priced at 1.73% and are scheduled to close on July 31, 2012. BNP Paribas and KGS Alpha Capital Markets are acting as joint lead bookrunners.
Copyright Photo: Nick Dean.