Latest news from Heavy Lift & Project Forwarding International Magazine

'Great year' for Atlas Air

February 19 - Atlas Air Worldwide Holdings posted an adjusted net income of USD125.3 million for the 12 months ended December 31, 2015, compared with USD93.4 million in 2014.

Atlas Air's free cash flow grew from USD247.8 million in 2014 to USD326.8 million in 2015.

"2015 was a great year," said Atlas Air president and ceo, William J. Flynn. "We grew earnings substantially, outperforming the airfreight market and delivering adjusted earnings per share of USD5.01, and we positioned Atlas for earnings growth in 2016."

Atlas Air also took actions to strengthen its fleet, adding a tenth B747-8 freighter and refinancing higher-cost debt on two existing 747-8 aircraft and five 747-400 freighters.

"We also expect to benefit from our acquisition of Southern Air Holdings, which we expect to close in the next few months," added Flynn.

Atlas Air begins 2016 with a "favourable view" about demand from its customers, expecting total block hours to increase more than 20 percent year-on-year.

Heavy Lift | News

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