Anyone still out there?
This sound cautiously optimistic
Atlas Air Announces Conversion of Two 747-200's
GOLDEN, Colo.--(BUSINESS WIRE)--Dec. 15, 1997--Atlas Air, Inc. (NYSE:CGO - news) today
announced that it has reached agreement for the early termination of leases on two 747-200 aircraft
leased to Philippine Airlines by Atlas. The leases, which were originally scheduled to expire in the
second half of 1998 and the year 2000, respectively, will instead be terminated in January and
February of 1998.
Subsequent to their delivery to Atlas, the two aircraft will undergo conversion from passenger to
all-cargo configuration at The Boeing Company's [NYSE:BA - news] modification facility in Wichita,
Kansas. They will then be available for entry into revenue service for Atlas during the second quarter
of 1998.
Michael A. Chowdry, President and CEO of Atlas Air, said, ''I am very pleased to have finalized this
important agreement. The delivery of these two aircraft into our fleet in early 1998 will go a long way
toward filling any aircraft gap created by the 747-400 delivery delays expected from Boeing. These
aircraft, coupled with any interim aircraft additions that we are also working on, will ensure that Atlas
will see a smooth transition between the return of the five aircraft currently being leased from Federal
Express and the delivery of our new 747-400's.''
''Atlas remains our largest customer for aircraft modification services,'' said Vic McMullen, Director of
the Boeing Wichita Modification Center. ''We have enjoyed a mutually beneficial relationship with
Atlas and are extremely pleased they chose us once again to modify their aircraft.''
Atlas Air is a United States certified air carrier that operates a fleet of 22 747 freighters under
long-term ACMI contracts. These contracts include the provision by Atlas of Aircraft, Crew,
Maintenance and Insurance for some of the world's leading air carriers, including British Airways,
China Airlines, Emirates, Fast Air, KLM, LAS, Lufthansa, SAS, and Thai International Airways,
serving a total of 62 cities in 38 countries.
Contact:
Atlas Air, Inc.
Jenna Focarino / Dewe Rogerson, 212/688-6840
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