Etihad Cargo has expanded its fleet of freighter aircraft with the placement of a third B747 freighter from Atlas Air Worldwide as part of a multi-year Aircraft, Crew, Maintenance and Insurance (ACMI) agreement. The 747-400 freighter is the third aircraft to be operated by Atlas Air on behalf of Etihad Cargo, and complements existing lease agreements previously signed by Etihad Cargo for B747 freighter aircraft in May 2012 and May 2013. Scheduled to come into service this month, the … [Read more...] about Etihad Cargo adds third B747 from Atlas Air
Atlas Air
Panalpina and Atlas Air extend partnership
Global forwarding and logistics group Panalpina and its long-time airline partner Atlas Air have announced a renewal of their cooperation agreement under which Panalpina provides owncontrolled capacity between Europe, North America and Mexico and links the company’s oil and gas hubs. The ‘Dixie Jet’ service’s capacity is managed by Panalpina while the Boeing 747F freighter aircraft are operated by Atlas Air. Panalpina and Atlas Air have been working … [Read more...] about Panalpina and Atlas Air extend partnership
AMERICAS: Atlas Air profits up aided by DHL business
Atlas Air Worldwide Holdings, parent of Atlas Air and Polar Air Cargo, reported second-quarter net profit of US$11.3 million, a more-than-sevenfold increase over a $1.5 million profit in the same period a year earlier despite revenue plummeting nearly 45 per cent to $240 million. Expenses fell 49.6 per cent to $214.5 million, producing an operating income of $25.5 million, nearly double last year’s $13.3 million. President and CEO William Flynn noted that the strong result was … [Read more...] about AMERICAS: Atlas Air profits up aided by DHL business
Atlas Air group posts record Q1 profit
Atlas Air Worldwide Holdings Inc (AAWW) has announced that for the three months ended 31 March, it achieved a record first quarter net profit of US$23.4 million on revenues of $244.5 million. The results for the quarter contrasted with a net loss of $5.3 million on revenues of $373 million for the same period a year earlier. The group said that reported first-quarter 2009 revenues reflect the deconsolidation of Polar Air Cargo Worldwide from AAWW for reporting purposes that occurred in October … [Read more...] about Atlas Air group posts record Q1 profit
Atlas Air posts US$23.4 million Q1 profit
Atlas Air Worldwide Holdings Inc. has reported a first-quarter profit of US$23.4 million this week, improving upon the same period last year when it posted a loss of $5.3 million. Revenue fell 34.4 per cent to $244.5 million, from $373 million a year ago, in large part due to Atlas selling a 49 per cent stake in its Polar Air Cargo unit. The carrier said global air freight traffic remains weak, but "appears to be showing signs of bottoming." With lower capacity in the industry, "any improvement … [Read more...] about Atlas Air posts US$23.4 million Q1 profit
Atlas/Polar retire seven B747 classics early
Atlas Air Worldwide, parent of Atlas Air and Polar Air Cargo, said it will retire seven of its 14 747-200s. "The current pronounced downturn in global airfreight demand has caused us to accelerate our plans to retire a portion of our older 747-200 assets," president and CEO William Flynn said. AAWW expects to report full-year 2008 pre-tax operating income of US$55-$60 million when it releases its earnings on 24 February. … [Read more...] about Atlas/Polar retire seven B747 classics early