Southern Air gets a vote of confidence

Note: The following article is expanded from the current issue of Cargo Facts Update. We encourage those of you who do not already subscribe to the monthly printed Cargo Facts newsletter, and its companion the weekly emailedCargo Facts Update, to click here for more information.

 

US-based ACMI operator Southern Air received a $55 million strategic investment from majority investor Oak Hill Capital Partners. The carrier said iin a statement that the investment “will support the completion of Southern Air’s fleet renewal and the company’s continued growth.” 

 

To learn more about Southern’s fleet plans, and its view of the state of the air freight industry, join us at the Cargo Facts Aircraft Symposium on the 24th to 26th of this month, where James Walsh, Southern’s EVP and CFO will address that subject during Session Six. For more information about the Symposium, or to register, Click Here.

 

Southern currently operates two 777Fs and eleven 747-200Fs, and has two more 777Fs on order. The carrier is also reported to have signed a Letter of Intent to lease two 747-400BDSFs (29375 and 29602, both ex-Air New Zealand) from DEUCALION CAPITAL, following conversion to freighter configuration by BEDEK AVIATION GROUP, with the first unit scheduled for redelivery to Southern in December, and the second in March 2012. For the future, Southern says it “is actively looking to add more 777 Freighters to its fleet,” and is also believed to be planning to add more 747-400Fs, as well.

 

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