Latest news from Heavy Lift & Project Forwarding International Magazine

Atlas Air posts third quarter loss

November 3 - Atlas Air Worldwide Holdings posted a loss from continuing operations in the third quarter of 2016, which it attributed to "nondeductible expenses triggered by shareholder approval of warrants granted to Amazon".

The US headquartered airline posted a loss from continuing operations of USD7.5 million for the third quarter of 2016, compared with a loss from continuing operations of USD12.8 million for the same period of 2015.

On an adjusted basis, income from continuing operations in the reporting period totalled USD27.4 million, compared with USD30.7 million in 2015.

William J. Flynn, president and ceo of Atlas Air, commented: "We placed our first aircraft into service for Amazon in August, and we moved forward with preparations to ramp up to 20 by the end of 2018. We also made significant progress toward integrating Southern Air and the two new operating platforms that it adds."

He added that results in the company's charter business reflected an increase in military cargo and passenger demand.

"We expect peak-season demand to be solid and accompanied by a seasonal improvement in commercial airfreight yields," Flynn continued.

Heavy Lift | News

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