Silk Way goes big – finally!

It has been a long time coming, but Silk Way finally took delivery of its first 747-8F. In March 2013, Azerbaijan-based all-cargo carrier Silk Way Airlines signed a Memorandum of Understanding with Boeing to purchase four 747-8 Freighters. Four months later, the carrier signed a firm order with Boeing for two 747-8Fs, and now, almost […]
  • David Harris
  • August 25, 2014

More 747-8 Freighters for ABC

No one can operate freighters profitably any more, right? Wrong! Moscow-based AirBridgeCargo (ABC) operates nothing but freighters, and is doing quite well. Not only did the carrier report a record first half, but it is planning a major fleet upgrade. We’ll get to the first-half details below, but first, the fleet news… AirBridge is about to […]
  • David Harris
  • August 8, 2014

ICBC to buy 747-8 Freighters?

According to a Bloomberg report, China-based ICBC Financial Leasing Co. is in talks with Boeing about the purchase of four or five 747-8Fs, with the intent of leasing them to South Korea-based Asiana. ICBC Leasing is the commercial finance arm of Industrial & Commercial Bank of China, the world’s largest bank by total assets and […]
  • David Harris
  • June 23, 2014

The changing freighter fleet

It’s been a busy month for freighter aircraft transactions. Regular visitors to this site will have seen a steady stream of reports chronicling the resurgence in demand for medium widebody freighters. Amerijet International, Cargojet, Star Air, and Uzbekistan Airways have all ordered or acquired freighter-converted 767-300s. And while there have been no recent orders for […]
  • David Harris
  • June 9, 2014

AirBridge reports a record quarter, may add more 747-8Fs

Moscow-based AirBridgeCargo (ABC), the scheduled service subsidiary of the Volga-Dnepr Group, reported volume up 9% in the first quarter to a record 86,500 tonnes. Cargo traffic for the period was up 13%. The carrier did not provide any information about revenue or profitability, but did say the volume growth “reflects market improvements in Russia, Europe, […]
  • David Harris
  • May 28, 2014

Atlas answers the big question

Atlas Air Worldwide Holdings’ first quarter net income was either up 90% or down 60% depending on whether you look at the adjusted or as-reported figures. On an as-reported basis, Atlas saw net income for the first quarter of 2014 fall 60.4% y-o-y to $7.9 million. However, after adjusting for a $3.4 million charge (related […]
  • David Harris
  • May 1, 2014

Cargolux reports stronger results for 2013

The last few months have seen Luxembourg-based all-cargo airline Cargolux almost constantly in the news, and most of the news has been negative. Internal struggles, resignations of high-level executives, speculation that the dual-hub strategy required by new shareholder HNCA will be a failure… But behind the headlines is a real airline that reported a much-improved […]
  • David Harris
  • April 30, 2014

What next for Global Supply Systems?

UK-based Global Supply Systems (GSS), in which Atlas Air Worldwide Holdings is a 49% stakeholder,  was formed in 2002 in order that British Airways World Cargo could continue to ACMI lease freighters from Atlas, while staying compliant with UK law. GSS dry-leased three 747-400Fs from Atlas, and operated them on an ACMI basis for BA […]
  • David Harris
  • April 9, 2014
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