newstodate.aero
Jun 26, 2014 (newstodate): The Icelandic cargo ACMI carrier Bluebird Cargo has now completed its work on the strategy to be pursued under new ownership from the start of this year.
In February 2005 the carrier was sold to the Icelandair Group, but in February 2011 Icelandair decided to divest of Bluebird Cargo that was placed with two Icelandic banks pending a future sale, eventually completed in January 2014 when stakes were acquired by the Icelandic investment group Haru Holding that is also owner of Air Atlanta, and BB Holding owned 50/50 by Steinn Logi Bjornsson who is now Chairman of the Board.
-Our strategy builds on three stages, the first of which is to return the carrier to profitability. This is greatly boosted by our contract with TNT from April 1, 2014, taking over operating the route Keflavik-Dublin-Liege, and further also benefiting from an interline agreement with Aer Lingus at Dublin allowing us to take transit cargo to and from the carrier's network, says Steinn Logi Bjornsson.
-We also have a contract with UPS, and all counted together we expect to return to profitability already in 2014, which is no small feat in today's business environment.
-Secondly, we aim at increasing the flexibility of our aircraft fleet, also having performed a sale-lease back operation for one of the Boeing 737 freighters by early May. And finally we will increase the utilization of the aircraft fleet. The entire fleet is actually on firm contracts for the rest of 2014, but we are looking at potentials for attracting new business and enhancing the profitability of operations.
-To sum it up, we are going for more of the same in the first place, and for new opportunities in the longer perspective.
-If these new opportunities would require us to invest in other aircraft types, we will consider that as well. We are open to all scenarios, says Mr Bjornsson.
With Skuli Skulasson as managing director, Bluebird Cargo operates a fleet of five Boeing 737 freighter aircraft.
In February 2005 the carrier was sold to the Icelandair Group, but in February 2011 Icelandair decided to divest of Bluebird Cargo that was placed with two Icelandic banks pending a future sale, eventually completed in January 2014 when stakes were acquired by the Icelandic investment group Haru Holding that is also owner of Air Atlanta, and BB Holding owned 50/50 by Steinn Logi Bjornsson who is now Chairman of the Board.
-Our strategy builds on three stages, the first of which is to return the carrier to profitability. This is greatly boosted by our contract with TNT from April 1, 2014, taking over operating the route Keflavik-Dublin-Liege, and further also benefiting from an interline agreement with Aer Lingus at Dublin allowing us to take transit cargo to and from the carrier's network, says Steinn Logi Bjornsson.
-We also have a contract with UPS, and all counted together we expect to return to profitability already in 2014, which is no small feat in today's business environment.
-Secondly, we aim at increasing the flexibility of our aircraft fleet, also having performed a sale-lease back operation for one of the Boeing 737 freighters by early May. And finally we will increase the utilization of the aircraft fleet. The entire fleet is actually on firm contracts for the rest of 2014, but we are looking at potentials for attracting new business and enhancing the profitability of operations.
-To sum it up, we are going for more of the same in the first place, and for new opportunities in the longer perspective.
-If these new opportunities would require us to invest in other aircraft types, we will consider that as well. We are open to all scenarios, says Mr Bjornsson.
With Skuli Skulasson as managing director, Bluebird Cargo operates a fleet of five Boeing 737 freighter aircraft.