fodc8
Well-known member
- Joined
- Jun 13, 2007
- Posts
- 65
ASTAR Air Cargo Extends Credit Agreement with HSH Nordbank Through 2019
Expanded Scope to Include Aircraft and Real Property
Last Update: 12:49 PM ET Aug 8, 2007
MIAMI, Aug 08, 2007 (BUSINESS WIRE) -- ASTAR Air Cargo today announced that it has entered into an expanded revolving credit facility with HSH Nordbank AG, New York Branch. The revised credit agreement extends the term to 2019, subject to certain conditions. The scope of the revolving credit facility will now be expanded to permit ASTAR to finance capital expenditures including the acquisition of aircraft, cargo conversions, designated real property, and ground equipment.
"We at ASTAR are delighted with this important development," said Steven A. Rossum, Executive Vice President - Chief Financial Officer and Treasurer of ASTAR. "HSH Nordbank is a global leader in aviation finance and an important business partner for ASTAR. Our revised credit facility provides ASTAR with enhanced financial flexibility and access to capital for the next 12 years as we continue to carry out our business strategy focused on efficiency and growth."
Mathis Shinnick, Global Head of Transportation at HSH Nordbank, said, "We are very proud of the strength of our relationship with ASTAR which began in 2003 at the time of ASTAR's inception. This extension of the term and the expansion of the scope of our credit facility demonstrate our confidence in ASTAR's management team and their overall business strategy. We look forward to continuing to support their growth and expansion as a dedicated finance partner."
About ASTAR Air Cargo, Inc.
ASTAR Air Cargo, Inc. is the operating subsidiary of ASTAR Air Cargo Holdings, LLC. ASTAR Air Cargo is a licensed U.S. air carrier operating a fleet of 44 aircraft from its operational hub in Wilmington, Ohio. The airline provides all-cargo scheduled and charter services on a contract basis for the DHL Worldwide Express network and charter services on a contract basis for other customers including the U.S. military and the United States Postal Service. ASTAR Air Cargo is a participant in the United States Civil Reserve Air Fleet program supporting our national defense. Additional information can be found at www.astaraircargo.us.
Expanded Scope to Include Aircraft and Real Property
Last Update: 12:49 PM ET Aug 8, 2007
MIAMI, Aug 08, 2007 (BUSINESS WIRE) -- ASTAR Air Cargo today announced that it has entered into an expanded revolving credit facility with HSH Nordbank AG, New York Branch. The revised credit agreement extends the term to 2019, subject to certain conditions. The scope of the revolving credit facility will now be expanded to permit ASTAR to finance capital expenditures including the acquisition of aircraft, cargo conversions, designated real property, and ground equipment.
"We at ASTAR are delighted with this important development," said Steven A. Rossum, Executive Vice President - Chief Financial Officer and Treasurer of ASTAR. "HSH Nordbank is a global leader in aviation finance and an important business partner for ASTAR. Our revised credit facility provides ASTAR with enhanced financial flexibility and access to capital for the next 12 years as we continue to carry out our business strategy focused on efficiency and growth."
Mathis Shinnick, Global Head of Transportation at HSH Nordbank, said, "We are very proud of the strength of our relationship with ASTAR which began in 2003 at the time of ASTAR's inception. This extension of the term and the expansion of the scope of our credit facility demonstrate our confidence in ASTAR's management team and their overall business strategy. We look forward to continuing to support their growth and expansion as a dedicated finance partner."
About ASTAR Air Cargo, Inc.
ASTAR Air Cargo, Inc. is the operating subsidiary of ASTAR Air Cargo Holdings, LLC. ASTAR Air Cargo is a licensed U.S. air carrier operating a fleet of 44 aircraft from its operational hub in Wilmington, Ohio. The airline provides all-cargo scheduled and charter services on a contract basis for the DHL Worldwide Express network and charter services on a contract basis for other customers including the U.S. military and the United States Postal Service. ASTAR Air Cargo is a participant in the United States Civil Reserve Air Fleet program supporting our national defense. Additional information can be found at www.astaraircargo.us.
WOW! the 700c is a production model, not a conversion and has only been in production for 7 years! they would new and an "order" for +70. erwaz said "hands on" which led me to believe they have already been produced. And I did not know of any -700 conversion programs. Not to say something would not be set up in the future, but the -700 is only 12-13 years old. I think the only 737 conversions on line so far are the -300 and -400's. 
