US air cargo carrier, Atlas Air Worldwide Holdings Inc. (AAWW) reported sharply higher earnings for the second quarter of 2007 on the corresponding period last year. For the June 30, 2007 quarter, AAWW earned $43.2 million, 304 percent more than in the second quarter of 2006. This included a substantial tax benefi t related to DHL Express’ investment in Polar Air Cargo Worldwide Inc. Revenues for the quarter totalled $370.4 million.

The company said in a statement that the results refl ected “a continuing improvement in aircraft utilisation due to proactive asset management, sustained operational execution, the positive impact of Continuous Improvement initiatives, increased AMC charter demand, and reduced net interest expense.