newstodate.aero
Jun 03, 2019 (newstodate): The Swedish/UK cargo carrier West Atlantic saw revenues up by 27.9 percent, y-o-y, during this year's first three months, according to the carrier's Interim Report 2019.
Drawing in the negative direction were high overruns of maintenance Check requirements on the Boeing 767-200BCF freighter fleet during the period, partly offset, however, by the delivery of the fourth Boeing 767 freighter in December 2018, the company says in the report.
To bolster its future aircraft maintenance, West Atlantic is advancing in its project to in-source its line and base maintenance activity at East Midlands airport, slated for completion in Q2, 2019.
The 31-aircraft strong ATP freighter fleet remains a burden on the company, with now 18 aircraft long-term parked, only 12 in actual service, and one on a dry-lease contract.
Talks are progressing with LUSAT, a holding company owning SWIFTAIR and AVIATION LEASING SPAIN, on the refinancing of the Group.
LUSAT has made an offer to the shareholders of the company and the bondholders as regards the repayment of the Bonds.
The Offer includes several features such as an equity injection in the company and pre-agreed assets to be allocated to the bondholders.
If talks end conclusively and are confirmed by the current stakeholders, the Spanish company will effectively take over West Atlantic.
Drawing in the negative direction were high overruns of maintenance Check requirements on the Boeing 767-200BCF freighter fleet during the period, partly offset, however, by the delivery of the fourth Boeing 767 freighter in December 2018, the company says in the report.
To bolster its future aircraft maintenance, West Atlantic is advancing in its project to in-source its line and base maintenance activity at East Midlands airport, slated for completion in Q2, 2019.
The 31-aircraft strong ATP freighter fleet remains a burden on the company, with now 18 aircraft long-term parked, only 12 in actual service, and one on a dry-lease contract.
Talks are progressing with LUSAT, a holding company owning SWIFTAIR and AVIATION LEASING SPAIN, on the refinancing of the Group.
LUSAT has made an offer to the shareholders of the company and the bondholders as regards the repayment of the Bonds.
The Offer includes several features such as an equity injection in the company and pre-agreed assets to be allocated to the bondholders.
If talks end conclusively and are confirmed by the current stakeholders, the Spanish company will effectively take over West Atlantic.