Boeing 747-8 Freighter joins the Etihad fleet on Atlas lease agreement

The full liveried Etihad Cargo Boeing 747-8 Freighter will be the largest in the carrier’s growing freighter fleet. The aircraft has a payload capacity of 138 tons and a range of more than 8,000 kilometres.

This is the second such ACMI agreement between Atlas Air and Etihad Airways, complementing an existing lease agreement signed for a Boeing 747-400 Freighter in May 2012.

The delivery will take Etihad Cargo’s freighter fleet to nine aircraft. From June the airline will also operate three Boeing B777F, one Boeing 747-400ERF, one Boeing 747-400F and three Airbus A330-200F.

Etihad CEO, James Hogan, said: “Cargo is one of our key strategic pillars and a growing part of the business. In 2012, it delivered tonnage growth of 19 per cent on the back of a capacity increase of 14 per cent in available tonnage kilometres.

“This deal with Atlas for a Boeing 747-8 Freighter reinforces our ability to serve a growing number of customers from around the globe.

“As we continue to add depth and scale to our cargo operations we look forward to fully leveraging the aircraft’s capability and efficient cost base to grow our reach, and facilitate global trade into, out of, and through the UAE.”

William Flynn, Atlas Air CEO, said: “We’re pleased to expand our relationship with Etihad Airways and help it extend its reach with next-generation performance in payload, fuel efficiency and total cost per tonne-mile.

“Together with our global operations and our reliable, high-quality service, Etihad now has additional flexibility to take advantage of market opportunities.”

Atlas is the only ACMI provider in the world to offer the Boeing 747-8F aircraft to its customers.

Analyst Saj Ahmad said: “Etihad is one of a handful of airlines capitalising on both passenger and freight growth. With new 777Fs and A330-200Fs in its fleet, the addition of the new 747-8F from Atlas Air allows the carrier to further expand its cargo capabilities and offer more space on its denser routes.

“ When you look at how Etihad's added freight capacity is being outstripping in tonnage, it's easy to see why the 747-8F was an attractive option for the airline. Given the commonality with the existing 747-400 Freighter, Etihad will continue to lead the GCC with new freighter airplanes as cargo demand starts to recover.”