Boeing (BA), Atlas Air Worldwide (AAWW) Announce Order for 767 Passenger Conversions

October 11, 2016 8:35 AM EDT

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Boeing (NYSE: BA) and Atlas Air Worldwide Holdings (Nasdaq: AAWW) announced an order today to convert nine 767 passenger airplanes into Boeing Converted Freighters (BCF). Four of the orders were previously announced at the Farnborough International Airshow in July, attributed to an unidentified customer.

Atlas Air Worldwide, based in Purchase, New York has an all-Boeing fleet.

"Boeing has been a longtime and trusted partner as we've built our fleet and business," said President and Chief Executive Officer William J. Flynn, Atlas Air Worldwide Holdings. "We look forward to continuing to work with Boeing to provide operational excellence and support for our customers."

Through its freighter conversion program, Boeing transitions passenger airplanes into freighters, extending the economic life of the airplane.

"We look forward to supporting Atlas with our Boeing Converted Freighters as they expand their freighter operations," said Rick Anderson, vice president of sales and marketing, Boeing Commercial Aviation Services. "With more than 40 years of experience in passenger-to-freighter conversions, Boeing has a deep understanding of the needs of the air cargo industry. Our freighter conversion program not only provides customers with world-class Boeing platforms, we also offer global support and the assurance of a Boeing-backed program."

Boeing's current market outlook forecasts a need for 400 widebody conversions over the next two decades, with strong demand for 767 freighter conversions due to a rise in e-commerce.

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