Tag Archives: 30811

Polar Air Cargo to start nonstop Cincinnati-Tokyo cargo service

Polar Air Cargo Worldwide, Inc. (New York) today confirmed its plans to initiate daily nonstop Boeing 747-400 express freighter service between Cincinnati, Ohio, and Tokyo, Japan, by the end of April 2013.

The new service will complement a daily 747-400 flight from the Japanese industrial city of Nagoya to Cincinnati, facilitating next-day deliveries to the U.S. from all major cities and industrial areas in Japan.

Polar also will double the frequency of its wide-body freighter connections to Australia from two to four days per week. The routing of this service, via Japan, will allow Polar customers such as DHL Express to optimize their intercontinental networks and introduce additional capacity both from the U.S. and from key North Asian markets to Australia. The increase in Polar’s frequencies will be supported by the introduction of two new Boeing 767-300ERF wide-body aircraft.

DHL-Polar Air Cargo:

Atlas Air Worldwide Holdings announces record first quarter earnings

Polar Air Cargo Boeing 747-46NF N453PA (msn 30811) MIA (Bruce Drum), originally uploaded by Airliners Gallery.

Atlas Air Worldwide Holdings, Inc. (New York) today (May 5) announced record first-quarter earnings that sharply exceeded previous record first-quarter earnings achieved in 2009.

For the three months ended March 31, 2010, AAWW’s net income increased 44.5% to $33.8 million, or $1.30 per diluted share, on revenues of $295.2 million and pretax earnings of $53.9 million. Record earnings for the quarter compared with previous record first-quarter net income of $23.4 million, or $1.12 per share, on revenues of $244.5 million and pretax earnings of $38.5 million for the three months ended March 31, 2009.

Excluding one-time items, adjusted net income in the first quarter of 2010 increased 86.2% to $27.5 million, or $1.06 per diluted share, compared with $14.8 million, or $0.71 per diluted share, in the first quarter of 2009.

The holding company expects to manage and operate a fleet of 22 747-400 freighters and six 747-200s (Atlas Air and Polar Air Cargo) through the remainder of this year. In addition, the Titan Aviation Leasing business acquired a Boeing 757-200 freighter in March that it has leased to a Chinese airline for a five-year term.

The holding company also plans to start outsourced CMI service using two customer-owned 747-400 passenger aircraft later this quarter, and to begin CMI flying for Boeing using four 747-400 Dreamlifter aircraft later this year. Additional fleet and earnings growth is expected with the delivery of 12 next-generation 747-8 freighters beginning in early 2011.