Atlas Air reports earnings ahead of delivery from Boeing of final 747

As it geared up to take a history-making delivery of Boeing’s last-ever jumbo jet on January 31, Atlas Air announced earnings fell in 2022, mainly due to increased pilot costs related to a new collective bargaining deal and higher overtime pay. “Net income and Adjusted EBITDA [earnings before interest, taxes, depreciation and amortization] were negatively impacted by lower aircraft utilisation and higher crew travel costs driven by the operational disruptions noted above, as well as higher commercial passenger airfare rates,” Atlas said in a filing to the US Securities and Exchange Commission (SEC). Atlas estimates showed operating revenue of $4.03bn,