newstodate.aero
Oct 17, 2006 (newstodate): Deutsche Post-owned DHL has anounced plans to take a 49 percent stake in Polar Air, a subsidiary of Atlas Air Cargo.
The proposed deal includes a strategic 20-year commercial arrangement that will ensure DHL access to aircraft capacity in key global markets, primarily US and the Far East, while Polar Air Cargo will enjoy the benefits from a long-term customer and potential revenue stream.
The agremment contains certain early mutual termination rights at five-year intervals.
DHL is the world's largest buyer of third-party airlift capacity.
Under the terms of the 20-year commercial arrangement, DHL would have access to lift capacity through Polar's current fleet of six Boeing 747-400 Freighters, plus access to additional available ACMI aircraft from Atlas that recently placed orders for order for 12 Boeing 747-8 freighters, with options to purchase an additional 14 aircraft.
The proposed deal includes a strategic 20-year commercial arrangement that will ensure DHL access to aircraft capacity in key global markets, primarily US and the Far East, while Polar Air Cargo will enjoy the benefits from a long-term customer and potential revenue stream.
The agremment contains certain early mutual termination rights at five-year intervals.
DHL is the world's largest buyer of third-party airlift capacity.
Under the terms of the 20-year commercial arrangement, DHL would have access to lift capacity through Polar's current fleet of six Boeing 747-400 Freighters, plus access to additional available ACMI aircraft from Atlas that recently placed orders for order for 12 Boeing 747-8 freighters, with options to purchase an additional 14 aircraft.