newstodate.aero
Nov 11, 2016 (newstodate): The Swedish/UK cargo carrier West Atlantic is the world's largest operator of the ATP turboprop freighter - but is plagued by over-capacity in this segment.
A decision has therefore been made to cannibalize six of the total of 39 ATP freighters in the fleet.
Of this total, 27 are in service while 12 aircraft have been parked as reserve capacity and for cannibalization.
Nordic Trustee & Agency AB, in its capacity as Agent, has agreed to approve a written request for waiver by West Atlantic AB relating to the dismantling of six under-used ATP aircraft that are currently subject to Transaction Security.
The waiver will allow West Atlantic to dismantle Bond-related Bae ATP aircraft if all criteria set out by the Terms and Conditions are met, except the Incurrence Test.
According to the West Atlantic Interim Report Q2, 2016, out yesterday, the company is seeing a modest one percent increase in revenues from its Boeing 737 and Boeing 767 operations when cleansed of effects from currency exchanges and fluctuations in fuel prices.
-This is, however, mostly offset by lower utilization of the ATP fleet and lower revenue from technical services, the report says.
-The primary driver of the lower ATP revenue was the loss of the operation for the Swedish NMO PostNord at the end of 2015, which involved five aircraft. Further, following Posten Norge's decision to stop Saturday delivery of mail, the operating calendar has been re-duced contributing to lower revenue.
A decision has therefore been made to cannibalize six of the total of 39 ATP freighters in the fleet.
Of this total, 27 are in service while 12 aircraft have been parked as reserve capacity and for cannibalization.
Nordic Trustee & Agency AB, in its capacity as Agent, has agreed to approve a written request for waiver by West Atlantic AB relating to the dismantling of six under-used ATP aircraft that are currently subject to Transaction Security.
The waiver will allow West Atlantic to dismantle Bond-related Bae ATP aircraft if all criteria set out by the Terms and Conditions are met, except the Incurrence Test.
According to the West Atlantic Interim Report Q2, 2016, out yesterday, the company is seeing a modest one percent increase in revenues from its Boeing 737 and Boeing 767 operations when cleansed of effects from currency exchanges and fluctuations in fuel prices.
-This is, however, mostly offset by lower utilization of the ATP fleet and lower revenue from technical services, the report says.
-The primary driver of the lower ATP revenue was the loss of the operation for the Swedish NMO PostNord at the end of 2015, which involved five aircraft. Further, following Posten Norge's decision to stop Saturday delivery of mail, the operating calendar has been re-duced contributing to lower revenue.