AMERICAS: Atlas enjoys improved demand in tight market

Atlas Air Worldwide Holdings, Inc. announced strong revenues and earnings for the second quarter of 2010, driven by what it said was a continuing improvement in airfreight demand, a tight supply environment, a significant increase in commercial charter volumes and rates, and continued strength in military demand. For the three months ended 30 June, Atlas’ […]


Atlas Air Worldwide Holdings, Inc. announced strong revenues and earnings for the second quarter of 2010, driven by what it said was a continuing improvement in airfreight demand, a tight supply environment, a significant increase in commercial charter volumes and rates, and continued strength in military demand. For the three months ended 30 June, Atlas’ net income increased 188 per cent to US$32.7 million on revenues of $356.2 million and pretax earnings of $61.7 million. For the six months ended 30 June, Atlas recorded net income of $66.4 million on revenues of $651.4 million and pretax earnings of $115.6 million.

Meanwhile, Atlas announced the closing of a loan with Industrial and Commercial Bank of China Limited (ICBC) which it said underscores the company’s commitment to “delivering innovative, outsourced aviation solutions to customers serving China and the neighboring Asia-Pacific region, which comprise the world’s largest and fastestgrowing air cargo market.” Proceeds from the loan will be used to back leverage the March 2010 acquisition of a Boeing 757-200SF aircraft by Atlas’ subsidiary, Titan Aviation Leasing.