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West Atlantic AB (Publ) Annual Report 2017

West Atlantic Group’s Annual Report for 2017 is now available for download.

English version 

Swedish version

For further information, please contact:
Magnus Dahlberg, CFO
Telephone: +46 (0) 10 452 95 49
E-mail: magnus.dahlberg@westatlantic.eu

This information is information that West Atlantic AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 2018-04-27, 21.00 CET.

About West Atlantic
The West Atlantic Group is one of the market leading providers of dedicated airfreight services to European NMO’s and airfreight capacity to Global Integrators and Freight Forwarders. The Group has a well-established geographic network and operates a customised aircraft fleet, whereof a majority is wholly owned. West Atlantic was founded in 1962 and is headquartered in Gothenburg, Sweden. Operations are performed all over Europe and 2017 West Atlantic had 459 employees. For 2017 West Atlantic reported revenues of MSEK 1,589 and EBITDA of MSEK 126.

West Atlantic AB (publ) takes delivery of first B737-800BCF

West Atlantic, a European dedicated cargo airline specialised in mail and express logistics, has today taken delivery of the world’s first B737-800BCF Next Generation freighter. The aircraft is the first of four supplied by GE Capital Aviation Services (GECAS). Delivery was concluded with a handover ceremony by Boeing at East Midlands airport.

The aircraft will operate in the Group’s European network and will be placed on a long term contract during the third quarter of 2018. The aircraft offers significantly improved operating efficiency and environmental footprint through a 15% reduction in fuel burn compared to the B737 Classic and a 12% lower noise footprint. Payload is increased by an additional pallet position over the 737-400 and offers 23 tonnes of revenue generating capability.

“We’re excited to be the first operator of the 737-800BCF” stated West Atlantic’s Chief Executive, Fredrik Groth, adding: “The additional capacity and Next Generation efficiency offered by this new aircraft will deliver real benefit to our customers and we’re delighted to be at the forefront of deliveries of this new technology. This first of type, and the additional three aircraft being delivered to us within the next 11 months will all be operated for one of most recognized global integrators within their European Network.  With the 800 BCF, we expect to improve reliability, lower aircraft operating costs, and provide a better environmental footprint.”

Once all four aircraft are delivered, West Atlantic will be operating a fleet of 23 B737 aircraft.

For further information, please contact:

Fredrik Groth, CEO

Telephone: +46 (0) 10-452 97 09

E-mail: Fredrik.Groth@westatlantic.eu

This information is information that West Atlantic AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 2018-04-19, 18.00 CET.

 

About West Atlantic

The West Atlantic Group is one of the market leading providers of dedicated airfreight services to European NMO’s and airfreight capacity to Global Integrators and Freight Forwarders. The Group has a well-established geographic network and operates a customised aircraft fleet, whereof a majority is wholly owned. West Atlantic was founded in 1962 and is headquartered in Gothenburg, Sweden. Operations are performed all over Europe and 2017 West Atlantic had 459 employees. For 2017 West Atlantic reported revenues of MSEK 1,589 and EBITDA of MSEK 126.

West Atlantic AB (publ) Org. no: 556503-6083, Box 5433, SE-402 29 Gothenburg, Sweden

Investor Relations: investor.relations@westatlantic.eu  Webpage: www.westatlantic.eu

Press Release

Christmas cards from Sheffield to Svalbard

Our fleet is flexible enough to handle extra capacity whatever the season.

Our aircraft play a key role in delivering letters, cards and parcels for many of Europe’s largest national mail carriers, linking postal services in southern Europe with those in the very north.

So when a child in Spain, Switzerland or Sheffield writes to Father Christmas it can travel aboard our aircraft all the way to the North Pole. (Well, very close to!)

This film shows one of our CRJ200PFs flown by Captain Jan-Anders Tingström on approach and landing at Svalbard Airport, on a Norwegian Island far into the Arctic Circle, a trip we make every day Monday to Friday.

 

Horses from Dublin to Dubai

We have the specialist training, licences and adaptable aircraft to deliver whatever you need, wherever in the world.

Every so often West Atlantic is trusted to move a very special cargo, racehorses. A transport like this of high value, delicate live animals requires specialist training, experience and knowledge.

We use specially adapted aircraft for work like this and our pilots are trained for the unique take-off and landing techniques that are needed when transporting horses.

Our experienced ground staff are fully focused on animal welfare and ensuring that the horses remain calm during a potentially stressful experience. A typical flight begins on the ground in Dublin where the horses pass through a special security process. They board the 737 aircraft with trained handlers via a modified ramp and are secured safely aboard, each standing in a custom built box.

The horses have enough room to be comfortable, but not so much as to mean there are safety issues. Horses are used to travelling in horseboxes on the ground and an aircraft isn’t much different. A team of grooms travel with the horses and help keep them calm throughout the process, the horses are fed and watered at regular intervals throughout the flight to keep them hydrated and avoid any chance of colic, a risk when travelling by air.

The horses receive first class treatment with consideration for their comfort even going so far as to change the way the aircraft is flown, pilots must perform shallow take-offs and landings as this minimizes braking and reduces the stress on the horses.

Once on the ground again the horses are given a chance to stretch their legs and relax before travelling to the local stables and on to the racetrack.

 

West Atlantic AB (publ) receives equity contribution to the value of MSEK 31.7

As communicated in the interim report for the last quarter of 2017, certain shareholders have contributed equity to the group (the “Equity Contribution”).

An extraordinary meeting has been held whereby shareholders resolved on a new share issue in West Atlantic AB (publ) (“West Atlantic”). The subscription period and registration of the new shares has now been finalised. 15,864,205 of preferred shares have been issued at a subscription price of SEK 2 per share. Through the new share issue, the preferred shares in West Atlantic increases by 15,864,205, from 0 to 15,864,205 and the share capital increases by SEK 15,864,205 from SEK 27,004,640 to SEK 42,868,845.

Due to the earlier communicated Equity Contribution now having been completed, the proposed amendments and waivers to the terms and conditions of West Atlantic’s bond loan, approved by the bondholders in a written procedure concluded on 1 February 2018, which were subject to the completion of the Equity Contribution, will now become effective.

For further information, please contact:

Magnus Dahlberg, CFO

Telephone: +46 (0) 10 452 95 49

E-mail: magnus.dahlberg@westatlantic.eu

This information is information that West Atlantic AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 2018-04-04, 08.00 CET.

 

About West Atlantic

The West Atlantic Group is one of the market leading providers of dedicated airfreight services to European NMO’s and airfreight capacity to Global Integrators and Freight Forwarders. The Group has a well-established geographic network and operates a customised aircraft fleet, whereof a majority is wholly owned. West Atlantic was founded in 1962 and is headquartered in Gothenburg, Sweden. Operations are performed all over Europe and 2017 West Atlantic had 459 employees. For 2017 West Atlantic reported revenues of MSEK 1,589 and EBITDA of MSEK 126.

West Atlantic AB (publ) Org. no: 556503-6083, Box 5433, SE-402 29 Gothenburg, Sweden

Investor Relations: investor.relations@westatlantic.eu  Webpage: www.westatlantic.eu

Press Release

West Atlantic AB (publ) announces sale of two ATP freighters

Generated by the decision in 2017 to start marketing spare BAE ATP-F aircraft for dry-leasing and sale West Atlantic can today announce that an agreement has been reached for the sale of two BAE ATP freighters to EnComm Ltd., based out of Nairobi, Kenya. The agreement also includes commitments for spares, engineering and training support to assist the assigned operator in setting up its operation.

As part of the transaction West Atlantic also brokered an additional two BAE ATP passenger aircraft, currently owned by one of the Group’s collaboration partners.

This transaction marks the first step in reallocating our ATP aircraft portfolio into markets and geographies that can capitalise in full on the benefits of this efficient turboprop”, stated West Atlantic’s VP Aircraft Management Robert Drews, adding “we are now dedicated to providing all necessary support to ensure that the operation is set up as efficiently as possible.”

Financially the transaction will generate a significant contribution to cash flow and net income for the first quarter of 2018, in line with provided guidance.

 

For further information, please contact:

Fredrik Groth, CEO

Telephone: +46 (0) 10-452 97 09

E-mail: Fredrik.Groth@westatlantic.eu

This information is information that West Atlantic AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 2018-03-28, 17. CET.

 

About West Atlantic

The West Atlantic Group is one of the market leading providers of dedicated airfreight services to European NMO’s and airfreight capacity to Global Integrators and Freight Forwarders. The Group has a well-established geographic network and operates a customised aircraft fleet, whereof a majority is wholly owned. West Atlantic was founded in 1962 and is headquartered in Gothenburg, Sweden. Operations are performed all over Europe and 2017 West Atlantic had 459 employees. For 2017 West Atlantic reported revenues of MSEK 1,589 and EBITDA of MSEK 126.

West Atlantic AB (publ) Org. no: 556503-6083, Box 5433, SE-402 29 Gothenburg, Sweden

Investor Relations: investor.relations@westatlantic.eu  Webpage: www.westatlantic.eu

Press release

West Atlantic AB (publ) secures long term B737-800BCF contract

In 2017, West Atlantic committed to take four Boeing converted B737-800BCF, with first aircraft being scheduled for delivery in the second quarter of 2018.

West Atlantic can now announce that a long term agreement is in place to operate all committed aircraft on behalf of an express logistic provider in its current EU-network. The capacity will be phased in as the aircraft are being delivered, with the last aircraft entering service in the first quarter of 2019.

“We are delighted and proud to have secured a long term home for our Next Generation fleet in our core market” stated West Atlantic’s CEO Fredrik Groth, adding “we will now focus all efforts to leverage the NG’s technological advance and efficiency to deliver an excellent service. We are confident that West Atlantic is well positioned in the market going forward being in the forefront of the Next Generation programme.”

For further information, please contact:

Fredrik Groth, CEO

Telephone: +46 (0) 10-452 97 09

E-mail: Fredrik.Groth@westatlantic.eu

 

This information is information that West Atlantic AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 2018-03-21, 08.00 CET.

 

About West Atlantic

The West Atlantic Group is one of the market leading providers of dedicated airfreight services to European NMO’s and airfreight capacity to Global Integrators and Freight Forwarders. The Group has a well-established geographic network and operates a customised aircraft fleet, whereof a majority is wholly owned. West Atlantic was founded in 1962 and is headquartered in Gothenburg, Sweden. Operations are performed all over Europe and 2017 West Atlantic had 459 employees. For 2017 West Atlantic reported revenues of MSEK 1,589 and EBITDA of MSEK 126.

West Atlantic AB (publ) Org. no: 556503-6083, Box 5433, SE-402 29 Gothenburg, Sweden

Investor Relations: investor.relations@westatlantic.eu  Webpage: www.westatlantic.eu

Notice of written procedure – Request for approval of amendments and waivers

To the Holders in:
ISIN SE0007783840 – West Atlantic AB (publ) maximum SEK 1,350,000,000 Senior Secured Callable Fixed Rate Bonds 2015/2019

This voting request for procedure in writing has been sent on 15 January 2018 to bondholders directly registered in the debt register (Sw. skuldbok) kept by the CSD.

NOTICE OF WRITTEN PROCEDURE – REQUEST FOR APPROVAL OF AMENDMENTS & WAIVERS