Atlas Air Worldwide Holdings and Boeing have yet to agree to firm deliveries for the 12 Boeing 747-8Fs it has on order with the airframer.
Launch customer Cargolux in now taking first delivery in mid-2011 instead of a previously planned delivery for the fourth quarter of this year.
Today during a call to discuss third quarter earnings Atlas Air chief executive William Flynn said the company was in discussions with Boeing regarding specific deliveries on a unit-by-unit basis as well as "considering remedies and protections we have in our contract relative to yet another delivery delay". In a previously revised schedule, Atlas was supposed to take delivery of the first aircraft last month.
Flynn says it is "our belief Boeing is anxious to deliver the aircraft". Atlas understands that more than 10 of the freighters have been assembled, and are sitting on the runway in Everett, Washington, says Flynn.
In June of 2009 ATI reported that Atlas was in talks with Boeing over compensation for delivery delays, and in March of this year Atlas won a nine-year contract from Boeing to operate the manufacturer's fleet of four modified 747-400 Dreamlifters to transport 787 fuselage portions. Atlas replaced Evergreen International Airlines, which was awarded the contract in 2005.
Flynn says all four aircraft are now on the Atlas operating certificate.
As delivery schedule discussions continue with Boeing Atlas has recorded a 130% rise in third quarter net income to $33.8 million on revenues of $326 million.
Atlas ended the quarter with $570 million in cash and equivalents and $438 million in debt.