Atlas Air Worldwide Holdings, Inc. announced today that it has become the latest aviation partner of e-commerce retailing giant Amazon with an agreement to operate 20 freighters on behalf of the company which will take up as much as a 30 per cent share in Atlas. Under the long-term agreements announced today Atlas will, starting in the second half of this year, operate 20 B767-300 converted freighters for Amazon on a CMI (crew, maintenance and insurance) basis by the group’s airline … [Read more...] about Atlas Air to operate 20 B767-300 freighters for Amazon
Atlas Air Worldwide Holdings
Atlas Air Worldwide completes Southern Air acquisition
Atlas Air Worldwide Holdings, Inc. said it has completed its acquisition of privately held Southern Air Holdings, Inc., a premier provider of intercontinental and domestic CMI (crew, maintenance and insurance) services, for cash consideration of approximately US$110 million. "The strategically compelling, highly complementary combination," provides Atlas Air Worldwide immediate entry into B777 and B737 aircraft operating platforms with opportunities for additional growth and enhancing Atlas … [Read more...] about Atlas Air Worldwide completes Southern Air acquisition
Polar pleads guilty, fined $17 million
Polar Air Cargo, a division of Atlas Air Worldwide Holdings (AAWW), has reached an agreement with the US Department of Justice (DOJ) Antitrust Division to settle a price fixing charge involving fuel surcharges and cargo rates amongst a group of carriers. The collusion involved shipments from the US to Australia during the period from January 2000 to April 2003. Polar - not to be confused with Polar Air Cargo Worldwide, AAWW's operating subsidiary, which is not implicated - will pay a fine of … [Read more...] about Polar pleads guilty, fined $17 million
Atlas air enjoys improved demand in tight market
Atlas Air Worldwide Holdings, Inc. announced strong revenues and earnings for the second quarter of 2010, driven by what it said was a continuing improvement in airfreight demand, a tight supply environment, a significant increase in commercial charter volumes and rates, and continued strength in military demand. For the three months ended 30 June, Atlas' net income increased 188 per cent to US$32.7 million on revenues of $356.2 million and pretax earnings of $61.7 million. … [Read more...] about Atlas air enjoys improved demand in tight market
