Atlas Air closes on revolving credit facility
Atlas Air Worldwide, a provider of global air cargo assets and outsourced aircraft operating solutions, has announced the closing on a revolving credit facility in connection with pre-delivery deposit payments (PDPs) on the final nine of 12 747-8 widebody freighters scheduled for delivery to the company between early 2011 and 2013.
The 2010 facility complements an initial PDP facility entered into in February 2008 that provides pre-delivery payment financing for the first three aircraft in the company's firm order. The 2010 facility is structured as a revolving credit facility under which Atlas may draw up to $283m in total, with a maximum of $125.6m outstanding at any one time.
