London-based Air Charter Service has recorded its busiest quarter for its cargo division with 1,445 cargo charters in the period from August to October. Combining all of its other divisions, ACS logged its highest ever revenue in one quarter, amounting to a total of US$430 million (£321.1 million). Dan Morgan-Evans, group cargo director at ACS, said his division had one charter departing every 90 minutes over the course of each month during this period. The group saw demand coming … [Read more...] about Air Charter Service logs record quarter revenue for cargo
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aircraft leasing
Cainiao strengthens South America network with Atlas Air
Cainiao Network has expanded its partnership with air cargo operator Atlas Air and will operate daily charter flights to support the growth of cross-border trade between China and Latin America. The ecommerce logistics players says its weekly cargo volume from China to South America has increased 144 percent compared to last October since the daily flights began. The initial agreement between the two companies was three chartered flights per week, and with the new deal, Atlas will … [Read more...] about Cainiao strengthens South America network with Atlas Air
Atlas Air, DHL Express lock in contract extensions
Atlas Air has entered into contract extensions with DHL Express to continue operating 20 freighter aircraft in support of their fast-growing express and e-commerce markets. These agreements build on the long-standing strategic partnership between Atlas Air Worldwide and DHL, which began in 2008 and included DHL acquiring 49% of AAWW’s subsidiary, Polar Air Cargo, as well as a long-term agreement for six dedicated 747-400Fs to operate on key trans-Pacific routes. The partnership has grown … [Read more...] about Atlas Air, DHL Express lock in contract extensions
ST Engineering to lease five A321P2Fs to GlobalX
Global Crossing Airlines, also known as GlobalX, has signed up for five A321P2F conversion from ST Engineering, as the US-based startup charter service dips into the air freight market. ST Engineering, through its aviation asset management unit, will acquire five Airbus A321 passenger aircraft on its own or through joint venture companies and will provide maintenance services over the period of lease. The A321 feedstock will be converted and maintained at ST Engineering’s global … [Read more...] about ST Engineering to lease five A321P2Fs to GlobalX
AerCap, GECAS merger forms world’s biggest jet lessor
Aviation lessor AerCap confirmed on 10 March in a filing to the US Securities and Exchange Committee (SEC) its proposed acquisition of GE’s aircraft leasing division GECAS (GE Capital Aviation Services). The deal, valued at US$30 billion, is still subject to shareholder and regulatory approvals, and other customary closing conditions, but is expected to be closed by the last quarter of 2021. Under the terms of the agreement, GE will get approximately $24 billion in cash, 111.5 million … [Read more...] about AerCap, GECAS merger forms world’s biggest jet lessor
PIMCO and GECAS to set up US$3 billion aircraft leasing fund
With carriers scrambling to find some relief support amidst a downturn, a new investment platform could provide much-needed financing for airlines that are looking to upgrade their fleets with new aircraft. Fixed-income investment manager PIMCO and leading aircraft lessor GE Capital Aviation Services (GECAS) have reached a preliminary agreement to develop an aviation leasing platform to support up to US$3 billion in aircraft asset financing. The transaction will be subject to “customary … [Read more...] about PIMCO and GECAS to set up US$3 billion aircraft leasing fund
