Air Awarded Boeing Contract to Operate Dreamlifter Fleet
March 09, 2010 –
Beginning toward the latter part of 2010, Atlas Air will operate
Boeing’s Dreamlifter fleet of four 747-400 aircraft that have been
modified to transport major assemblies for the 787 Dreamliner from
suppliers around the world to Boeing production facilities in the
The parties have structured the nine-year agreement in a manner consistent with the outsourcing business model under which Atlas Air typically operates. Under that model, Atlas Air will receive contractually determined revenues for the operation of the Dreamlifter aircraft, with Boeing assuming responsibility for certain direct costs, including fuel. Under the CMI arrangement, Boeing will provide and maintain ownership of the aircraft assets.
|Converted 747 jumbo jets fly components for Boeing’s new 787 jetliners to its assembly plant in Everett|
Evergreen International Aviation Inc had the original contract. Its chairmen, Tim Wahlberg was disappointed to learn that the company had lost the contract. The company was unaware nor given notice that their contract was given to Atlas Air. The five year contract with Boeing will end in September 2010.
“It really puts us in a bad position,” Wahlberg said. “And we’re really
disappointed that Boeing hasn’t come clean on what the deal is. It kind
of hurts our reputation.” Although Evergreen was under a five year
contract the company believed because of its out standing work with
Boeing, Evergreen had expected the contract would have lasted at least
35 years. Wahlberg said his company ran a perfect operation and was
always on time.
“Atlas Air is very excited to partner with Boeing as it ushers in a new
era in air travel with the first all-new jet airplane of the 21st
century,” said William J. Flynn, President and Chief Executive Officer
of Atlas Air Worldwide Holdings, Inc. “We look forward to working
closely with Boeing and to providing world-class Dreamlifter service.
“Our dynamic customer solutions and our ability to integrate with our
customers’ operations set us apart from other participants in the
aircraft operating solutions market. We believe that our global scope
and scale, high-quality service and reliability, cost-effective
operations, and premium customer service create a compelling value
proposition for our customers.”
Mr. Flynn added:
“We are well positioned to execute on our growth initiatives and to
drive future revenues and earnings. In addition to the expected
start-ups of our new CMI service for Boeing in the second half of this
year and for SonAir in the second quarter, we are focused on introducing
our new Boeing 747-8 freighters into service in 2011 and on adjacent dry
leasing opportunities in our Titan subsidiary.
implemented, we expect that the annual contribution per aircraft from
our Dreamlifter service will meet or exceed the current average
contribution that we achieve in our 747-400 ACMI service.”
AAWW 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, AAWW operates the world’s largest
fleet of Boeing 747 freighter aircraft.
Atlas, Titan and Polar offer a range of air cargo services that include ACMI aircraft leasing – in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis; CMI service, for customers that provide their own aircraft; express network and scheduled air cargo service; military charters; commercial cargo charters; and dry leasing of aircraft and engines.
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