Atlas Air

Atlas described its latest order as underscoring a commitment to grow its 777F platform, and “meets our strict return guidelines for investing in aircraft.”

It is the second of four 777-200Fs Atlas will operate for the shipping company under an aircraft, crew, maintenance and insurance (ACMI) agreement.

The logistics arm of Chinese e-commerce giant Alibaba is opening an air freight center at Shenzhen Bao’an to ramp up its air cargo operation with Atlas Air.

Now a privately held company, the U.S. lessor, cargo and charter airline will retain its Atlas Air Worldwide name and executive leadership team.

Air cargo has been booming. Even though the market is now slowing, airlines see a need for more aircraft than currently planned for the long term.

A significant portion of the in-service fleet is coming up for retirement and feedstock for passenger-to-freighter (P2F) conversions is becoming scarce.

ATSG expressed confidence in customer readiness for long-term freighter lease commitments.