World Airways adjusts fleet mix
World Airways, a Peachtree, Ga.-based operator of aircraft for international passenger and cargo airlines and the U.S. military, announced plans last week to restructure its fleet.
The company, which flies 11 MD-11 and seven DC-10-30 planes, will return two DC-10-30 cargo planes coming off expensive leases this month and in the fourth quarter plans to replace two DC-10-30 passenger aircraft with two Boeing 767-300 Extended Range aircraft, leaving it with 16 aircraft.
The 2005 business plan calls for the fleet to grow to 17 aircraft with the addition of two more 767-300ER, the scheduled return of two MD-11 and one DC-10-30 passenger aircraft to the lessor, and the addition of two freighter aircraft.
World Airways said it plans to evaluate the possibility of adding a 747-400 Special Freighter to meet its freighter requirements.
As the operating leases for three of World’s MD-11 aircraft expire in 2006, the company anticipates it will be able to either renegotiate significantly lower lease rates on the aircraft or secure replacement units at lower lease rates.