Atlas Air Worldwide Holdings (AAWH) announced its Atlas Air unit has entered into an $865 million term-loan facility with Apple Bank for Savings, guaranteed by the Export-Import Bank of the United States, to finance the company’s six remaining Boeing 747-8F aircraft deliveries . The aircraft are expected to be placed in Atlas Air’s international ACMI (aircraft, crew, maintenance and insurance) service.
When drawn, the facility will consist of six separate 12-year term loans. The six aircraft covered by the facility are expected to be delivered between mid-2012 and mid-2013.
The company said the first five aircraft in Atlas Air’s order for nine 747-8Fs—including three for British Airways World Cargo, which were delivered in the fourth quarter of 2011, and two for Panalpina, to be delivered in mid-2012—have been placed under long-term ACMI contracts.
Article Source : ATW Daily News
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