| FOR IMMEDIATE RELEASE | 3 May 2017 |
Cathay Pacific Cargo today announced it has reached agreement with Atlas Air Worldwide Holdings, Inc., a leading global provider of outsourced aircraft and aviation operating services, to wet-lease two Boeing 747-8 Freighters from May 2017 to support its airfreight operations.
The two freighters, which will be operated by Atlas Air through an aircraft, crew, maintenance and insurance (ACMI) service agreement, will be deployed to supplement capacity on Cathay Pacific Cargo’s existing network.
Cathay Pacific Director Cargo Simon Large said: "This agreement underscores the strength of our cargo operations and our commitment to enhance the frequency of our services across our expanding global network. We are very pleased to be able to provide our customers with increased options, flexibility and convenience and look forward to developing a long-term partnership with Atlas Air Worldwide."
William J. Flynn, President and Chief Executive Officer, Atlas Air Worldwide, said: "Cathay Pacific is a prominent global airline and a standout performer in the airfreight market. We are delighted to work with Cathay Pacific's cargo division to facilitate the strong growth of its global network. With two of our next-generation -8 freighters - offering greater performance in payload, fuel efficiency and total cost per tonne-mile - in service for Cathay Pacific Cargo, we look forward to supporting the airline as it takes advantage of the market opportunities before it."
Cathay Pacific Cargo
Cathay Pacific Cargo is one of the leading international air cargo carriers. Using a dedicated fleet of 21 Boeing 747 freighters, including 14 747-8 freighters, to over 47 freighter destinations worldwide, Cathay Pacific Cargo also utilises cargo space on Cathay Pacific's 124 passenger aircraft and Cathay Dragon's 43 passenger aircraft, serving a growing global route network from its Hong Kong home. Cathay Pacific's cargo business currently accounts for around 24% of its annual revenues, and has helped to build Hong Kong into the world's busiest air cargo hub. For more information, visit www.cathaypacificcargo.com.
Atlas Air Worldwide Holdings Inc
Atlas Air Worldwide's press releases, SEC filings and other information can be accessed through the Company's home page, www.atlasair.com.
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