For Sweden-based West Atlantic, 2015 was an exceptionally challenging year, during which the company\u2019s profits dipped into the red, from a US$1.3 million profit in 2014, to a loss of $6.1 million in 2015. Despite higher revenues in 2015, which rose 13.7 percent over the previous year, to $173 million, the integrated mail and express carrier encountered enough costly setbacks to kept it in the red.
\nA West Atlantic freighter-converted 737.
\nWhile the group has traditionally operated a variety of mostly turboprop aircraft for, and on behalf of, major integrators and national postal organizations, the airline continued to branch out into larger aircraft, which it said boosted revenues. West Atlantic added two 737 converted freighters and three 767 converted freighters during the year. West Atlantic saw softer demand for its lower payload, turboprop aircraft, \u201cdriven by market consolidation of volumes,\u201d added West Atlantic\u2019s interim CEO, Fredrik Goth. \u201cDouble digit revenue growth\u201d was derived \u201cfrom the commercial success in the B737 and B767 markets,\u201d Goth added. Expanding revenues alone, however, don\u2019t always translate into profitability.
\nThe company was formed in 2011 as the result of a merger between Sweden\u2019s West Air Group, and the U.K.\u2019s Atlantic Airlines. Yet, even after five years, the carrier continues to face major obstacles as it moves to integrate both fleets under a single Swedish AOC. This resulted in costly delays for aircraft, which West Atlantic was \u201calready contracted to operate,\u201d Goth said.
\nAdding to the company\u2019s misfortunes, January 2015 saw the tragic loss of a freighter-converted CRJ-200, in a crash which took months for the company to recover from. In addition to the loss of the plane, and the lives of its two crew members, the ongoing investigation into the incident diverted vital planning and operational resources, which, in turn, slowed the company\u2019s return to \u201cnormal operations,\u201d added Groth.
\nLooking forward, West Atlantic said it plans to implement a cost-reduction program, which aims to win new contracts and return the company to profitability.
\nSource: aircargoworld<\/p>\n","protected":false},"excerpt":{"rendered":"
For Sweden-based West Atlantic, 2015 was an exceptionally challenging year, during which the company\u2019s profits dipped into the red, from a US$1.3 million profit in 2014, to a loss of $6.1 million in 2015. Despite higher revenues in 2015, which rose 13.7 percent over the previous year, to $173 million, the integrated mail and express[…]<\/a><\/p>\n","protected":false},"author":1,"featured_media":1452,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[49],"class_list":["post-1451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-airport-code"],"_links":{"self":[{"href":"https:\/\/www.actlogistics.vn\/en\/wp-json\/wp\/v2\/posts\/1451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.actlogistics.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.actlogistics.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/en\/wp-json\/wp\/v2\/comments?post=1451"}],"version-history":[{"count":0,"href":"https:\/\/www.actlogistics.vn\/en\/wp-json\/wp\/v2\/posts\/1451\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/en\/wp-json\/wp\/v2\/media\/1452"}],"wp:attachment":[{"href":"https:\/\/www.actlogistics.vn\/en\/wp-json\/wp\/v2\/media?parent=1451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/en\/wp-json\/wp\/v2\/categories?post=1451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/en\/wp-json\/wp\/v2\/tags?post=1451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}