Atlas Air Worldwide Holdings Inc. in Purchase has a new financing partner as it expands into military and commercial passenger service with its outsourced fleet of Boeing aircraft.
The company, headquartered at 2000 Westchester Ave., said it recently closed on a $35.7 million, five-year term loan facility with an affiliate of CIT Bank, a wholly owned subsidiary of CIT Group Inc. The proceeds are secured by and have been used to back- leverage Atlas Air”™s two Boeing 747-400 and two Boeing 767-300ER passenger aircraft purchased in 2011, when the aviation outsourcer launched its military and commercial passenger service and added Boeing”™s mid-sized 767 aircraft to its business.
Atlas Air last officials last year signed a five-year lease renewal and announced a 10-year commitment to stay at the company”™s 120,000-square-foot headquarters in Purchase, where its landlord and co-tenant is Morgan Stanley. Atlas Air CEO William J. Flynn last June said 430 of the company”™s 1,400 international employees worked in Purchase.
