Icelands Avion Group orders Boeing 777 Freighters

Travel News Asia 22 September 2005

Boeing and the Avion Group signed final agreements for the purchase of four Boeing 777 Freighters at the Cargo Facts Symposium today. The new cargo planes will be operated by Avion Group's subsidiary, wet-lease operator Air Atlanta Icelandic.

Air Atlanta Icelandic is one of the world's largest ACMI (aircraft, crew, maintenance and insurance) service providers, offering tailor-made solutions to other carriers, both in the passenger and cargo industry.

The four 777 Freighters, with purchase rights for two additional 777Fs, will provide additional capacity for a number of the world's top carriers. The first 777 Freighter to Air Atlanta Icelandic is scheduled for delivery beginning in February 2009.

Additionally, the Avion Group and Boeing are in negotiations to convert three Air Atlanta Icelandic 747-400 passenger airplanes into 747-400 BCF (Boeing Converted Freighter) models.

The combined value of the four 777 Freighters and the three 747-400 BCFs at Boeing list prices is approximately $1 billion.

"This agreement represents yet another chapter in the overall Air Atlanta Icelandic fleet renewal plan. We look to the 777 Freighter to provide a new dimension in our ability to serve our customers," said Magnus Thorsteinsson, chairman of the Avion Group. "The 777 has an outstanding reputation for capability, reliability and efficiency, and the 777 Freighter will provide a good complement to the 747 Freighters that many of our customers already operate."

The 777 Freighter, based on the technologically advanced 777-200LR passenger airplane, will be capable of flying 4,965 nautical miles (9,195 kilometers) with a full payload. With a maximum takeoff weight of 766,000 pounds (347,450 kilograms), the 777 Freighter will have a revenue payload capability of 229,000 pounds (103 metric tons).

The 777 Freighter will be powered exclusively by General Electric's GE90-110B1 and will meet QC2 noise standards for maximum accessibility to noise-sensitive airports.

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