Atlas Air Worldwide Holdings, Inc. announced the ACMI placement of three B747-400 freighters with Hong Kong Air Cargo Carrier Limited, a subsidiary of Hong Kong Airlines, which is in turn a subsidiary of the HNA Group. The cargo carrier was spun off from its parent earlier this year and received an Air Operator’s Certificate (AOC) from Hong Kong authorities – the first AOC issued in over 12 years for Hong Kong.
The aircraft will be operated by Atlas Air and will fly on behalf of Hong Kong Air Cargo through with he first aircraft entering service in September 2017, serving routes between Asia and the US. The second and third aircraft are expected to commence operation during 2018.
“We are delighted that Hong Kong Air Cargo has chosen Atlas Air as its ACMI provider as it continues to build its global freighter network,” said William J. Flynn, president and CEO of Atlas Air Worldwide. “This is a further testament to our strong focus on serving customers in the fast-growing Asia Pacific market.”
“We are pleased to work with Atlas Air as our ACMI provider,” said Guo Song Zhong, chairman and CEO of Hong Kong Air Cargo. “After strengthening our regional network in recent years, it is now time to expand our trans-Pacific network and look into other markets such as Europe, Australia, Africa and Latin America as we move forward.”
Hong Kong Air Cargo, a subsidiary of Hong Kong Airlines, is an all-cargo airline based in Hong Kong and as of 2016, the carrier’s freighters covered over 11 freight routes and 13 destinations. In 2016 the cargo carrier’s volume exceeded 327,500 tonnes, accounting for 7.0 per cent of Hong Kong International Airport’s overall throughput.
Meanwhile, Atlas Air Worldwide Holdings has reported a net profit of US$38.9 million on revenue of US$517.36 million for Q2 2017 ending 30 June. Figures for the first six months of the year were US$38.18 million and US$992.7 million respectively.
“Earnings growth in the second quarter reflected a 17 per cent increase in revenue, 15 per cent increase in block hours, and higher direct contribution in all of our segments,” said Flynn. “During the quarter, we started flying for Cathay Pacific and Yangtze River Airlines and added four 767-300 freighters for Amazon, including our fifth and sixth aircraft in June.”
Flynn said more than 70 per cent of the AAWH freighter fleet operates for customers in the express and eCommerce market.
“We believe the current demand, including our new services for Asiana Cargo, Cathay Pacific Cargo, FedEx, Hong Kong Air Cargo, Nippon Cargo Airlines and Yangtze River Airlines, the initial accretion from our Amazon operations, and the first full year of contribution from Southern Air, provide a strong foundation for earnings growth,” he said.