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
Q1 profit
ST Aerospace sees 57% drop in Q1 profit
Singapore Technologies Aerospace (ST Aerospace) has reported a 57 per cent decline in net profit to S$27.4 million (US$18.5 million) for the first quarter 2009 compared with the year-ago period. On a quarter-on-quarter basis, profit was down 30 per cent from the fourth quarter of 2008. Turnover was down marginally by 2 per cent for the first quarter, year-on-year, to S$459 million. … [Read more...] about ST Aerospace sees 57% drop in 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
Panalpina Q1 profit nose dives 94%
Swiss logistics group Panalpina reported a 94 per cent drop in first-quarter profit to 1.9 million Swiss francs (US$1.64 million), but said it was on track to reach its cost-cutting goal for 2009 which includes cutting 10 per cent of its workforce. "The massive recession-related global volume decline seen since the end of 2008 has impacted Panalpina on all major trade lanes and had negative effects on the results in the first quarter," said chief executive Monika Ribar. "However, with the … [Read more...] about Panalpina Q1 profit nose dives 94%