Atlas reports Q2 results

Victoria
By Victoria August 5, 2014 08:21

Atlas reports Q2 results

Atlas Air Worldwide Holdings has recorded a second-quarter net income of $29.6 million, up 47.5% from the $20 million net profit reported in Q2 2013.

Atlas CEO William Flynn said: “Our second-quarter results illustrate the positive contributions being generated by the investments we’ve made and the initiatives we’ve undertaken. In the face of an uncertain airfreight market and an anticipated decline in military cargo demand we have diversified our business mix and are driving business resilience.”

For the second quarter, Atlas Air’s consolidated operating revenue increased 9.3% year-on-year to $441.2 million. Operating expenses grew 16.7% year-over-year to $414.5 million. Consolidated operating income for the quarter was $26.7 million, down 45% year-over-year from $48.5 million in the year-ago quarter.

New York-based Atlas Air Worldwide is parent company to Atlas Air and Titan Aviation Leasing, and majority owner of Polar Air Cargo.

Victoria
By Victoria August 5, 2014 08:21