Atlas Air, the second-largest carrier of air cargo planes and outsourced aircraft operating systems, sought to free up working capital by financing progress payments due on its purchase order for 12 next-generation aircraft—the Boeing 747-8 wide-body freighter. Atlas turned to Pillsbury’s Transportation Finance team to help structure and close the financing package. Pillsbury helped Atlas close the transaction within a few weeks and the deal provided for a new revolving credit facility that allowed the airline to draw up to $283 million in pre-delivery payments on nine of the aircraft. The security package needed to be structured to harmonize with the 2008 security package, which required the consent of Boeing. Pillsbury’s team helped guide this transaction to a smooth landing and helped secure Atlas’ competitive edge as a launch customer for the new Boeing planes.