Tag Archives: Polar Air Cargo

Atlas Air Worldwide Holdings is on a pace for a record year

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

Atlas Air Worldwide Holdings, Inc. (New York) announced sharply higher revenues and earnings for the third quarter of 2010, reflecting strong commercial airfreight demand; tight supply of wide-body, long-haul freighter aircraft; continued high ACMI aircraft utilization; and a significant increase in commercial charter volumes and rates.

For the three months ended September 30, 2010, AAWW’s net income rose 130% to $33.8 million, or $1.29 per diluted share, on revenues of $326.7 million and pretax earnings of $55.2 million. Solid operating and financial results for the quarter compared with net income of $14.7 million, or $0.70 per diluted share, on revenues of $255.5 million and pretax earnings of $21.7 million for the three months ended September 30, 2009.

For the nine months ended September 30, 2010, AAWW recorded net income of $100.3 million, or $3.85 per diluted share, on revenues of $978.1 million and pretax earnings of $170.8 million. In 2009, AAWW’s nine-month net income totaled $49.4 million, or $2.35 per diluted share, on revenues of $740.0 million and pretax earnings of $78.0 million.

Excluding one-time items, adjusted net income in the first nine months of 2010 increased 167% to $108.7 million, or $4.17 per diluted share, compared with $40.8 million, or $1.94 per diluted share, in the first nine months of 2009. Pretax earnings for the first nine months of 2010 included a net expense of $16.2 million for legal settlements, partly offset by an $8.8 million litigation settlement receipt and a gain of $3.5 million on disposal of aircraft assets. Pretax earnings for the first nine months of 2009 included benefits of $10.0 million for the effective early termination of a contract, $2.7 million for a gain on the early extinguishment of debt, and $1.0 million on the disposal of aircraft assets.

Atlas Air Worldwide Holdings, Inc. wholly owns Atlas Air (New York), Polar Air Cargo (51%) and a share of Global Supply Systems (49%).

Atlas Air Worldwide Holdings reports 2Q earnings of $32.7 million

Atlas Air Boeing 747-2D7B (SF) N522MC (msn 21783) ANC (Michael B. Ing), originally uploaded by Airliners Gallery.

Atlas Air Worldwide Holdings (New York-JFK) for the three months ended June 30, 2010, AAWW’s net income increased 188% to $32.7 million, or $1.25 per diluted share, on revenues of $356.2 million and pretax earnings of $61.7 million. Solid operating and financial results for the quarter compared with net income of $11.3 million, or $0.54 per share, on revenues of $240.0 million and pretax earnings of $17.8 million for the three months ended June 30, 2009.

Excluding one-time items, adjusted net income in the second quarter of 2010 increased 319% to $47.5 million, or $1.82 per share, compared with $11.3 million, or $0.54 per share, in the second quarter of 2009. Pretax earnings in the second quarter of 2010 included a net expense of $16.2 million for anticipated legal settlements, as well as a $2.2 million gain on disposal of aircraft assets. There were no one-time items in the second quarter of 2009.

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.

Atlas Air Worldwide Holdings reports 4Q and 2009 financial results

Please click on the AG icon for a direct link to the Atlas Air photo gallery.

Atlas Air Worldwide Holdings, Inc. (New York), the holding company for both Atlas Air and Polar Air Cargo, today (February 24) announced its financial results for the fourth quarter and full year ended December 31, 2009.

For the quarter ended December 31, 2009, the holding reported net income of $28.3 million compared with net income of $62.3 million for the three months ended December 31, 2008.

For the year ended December 31, 2009, the holding company posted net income of $77.8 million compared with net income of $63.7 million for the previous year.

Delivery of the Company’s 12 next-generation 747-8 freighters is expected to begin in early 2011.

Atlas Air’s third quarter net income up 181%

Atlas Air Worldwide Holdings (Atlas Air and Polar Air Cargo) (New York-JFK) reported its third quarter net income increased by 181 percent to $14.7 million compared with the same period a year ago.

Press release:

finance.yahoo.com/news/Atlas-Air-Worldwide-Holdings-bw-2446173527.html?x=0&.v=1

Atlas Air Worldwide posts 2Q $11.3 m profit

Atlas Air Worldwide Holdings (Atlas Air and Polar Air Cargo ) (New York-JFK) posted a net profit of $11.3 million in the second quarter ending on June 30.

Press release:

finance.yahoo.com/news/Atlas-Air-Worldwide-Holdings-bw-3288955831.html?x=0&.v=1