During the conference Gustaf Thureborn, West Atlantic’s Chief Executive Officer and Group President, will hold a presentation covering the Group’s operations, market position, financial performance up to the third quarter of 2015 and present a current market outlook for 2015-2020.
The full presentation is available here: 2016-01-20 Pareto Sec
West Atlantic discloses the information in this release pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instrument Trading Act.
West Atlantic are pleased to announce that a second B767 has successfully entered service under a multi-year agreement with a Global Integrator. The aircraft is the second to have been supplied to West Atlantic by Cargo Aircraft Management, a division of strategic partner, Air Transport Services Group.
Operated by West Air Sweden the aircraft (SE-RLB) joins its sister ship (SE-RLA) which entered service in April this year.
West Atlantic has further secured commercial terms for a third B767 aircraft which is scheduled to be deployed in Q1, 2016.
“We have been delighted with the performance of our first 767 and, with the arrival of the second, we’re further delivering on our commitment to ensure that West Atlantic continues to meet a growing demand for efficient outsourced medium widebody freighters in our core EU market” – says Gustaf Thureborn, CEO and President.
Amapola has announced that they will not extend the subcontractor agreement of PostNord with West Atlantic when it expires at the end of this year. West Atlantic has been a subcontractor to Amapola since 2005. The agreement with Amapola involves five BAe ATP-F aircraft and accounted for roughly 10 percent of the revenue in 2014, but has decreased in importance during 2015 as a result of the new Boeing 737-routes that were introduced during the first half of 2015.
It is unfortunate that we were unable to reach an agreement with Amapola. We now look at alternatives for the five aircraft currently deployed by Amapola, such as engaging these aircraft on new routes in our continued expansion or using them to cover the Company’s ongoing need for spare parts, says Gustaf Thureborn, CEO and President of West Atlantic.At the same time, the efforts of adding new Boeing 737 routes to the network have progressed very well and we will launch two new routes during the second half of 2015 and we have already signed two new contracts for the first half of 2016.
After concluding its network procurement process DHL has announced that West Atlantic has been awarded four new long-term B737-400 operations during 2015. The Group is currently sourcing capacity to be able to efficiently phase in the requirement, the estimated phase in period is set to six months. Two of the awarded operations are upgrades to existing routes already operated by the Group with BAe ATP aircraft that will now be deployed elsewhere in commercial operations.
“This award marks the Group’s entry as a committed provider of dedicated B737 capacity to DHL. Concluding this contract award provides the Group with the opportunity to further capitalise on its strategic growth with the B737 platform. The Group organisation is dedicated to delivering a quality operation to our customers”, says Gustaf Thureborn, CEO and President.
On April 7th, the Group’s first B767 aircraft completed its first commercial flight. The aircraft has been placed on a long term customer agreement.
“This marks the commercial start of the B767 project, which was initiated over a year ago. During 2015, the organisation has efficiently put all pieces together and we now look forward to future additions to the B767 fleet”, says Gustaf Thureborn, CEO and President.
West Atlantic has today announced agreement to form a strategic partnership with Wilmington, Ohio based Air Transport Services Group, Inc. (Nasdaq: ATSG). The agreement, signed on December 6th and expected to close on January 2nd 2014, provides ATSG with a strategic 25% shareholding in the Gothenburg based West Atlantic Group.