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Atlas Air revenue down 4.0%, reports operating profit in 4Q2009

25-Feb-2010 11:58 AM

Atlas Air Worldwide Holdings revenue down 4.0% - financial highlights:

  • Three months ended 31-Dec-2009:
    • Total operating revenue: USD32.6 million, -4.0% year-on-year;
    • Total operating cost: USD269.4 million, -28.1%;
    • Operating profit: USD52.2 million, compared to a loss of USD39.7 million in the previous corresponding period;
    • Net profit: USD28.3 million, -54.5%;
  • 12 months ended 31-Dec-2009:
    • Total operating revenue: USD1,062 million, -34.0%;
    • Total operating cost: USD911.5 million, -43.7%;
    • Operating profit: USD150.0 million, compared to a loss of USD12.1 million in the previous corresponding period;
    • Net profit: USD77.8 million, +22.1%. [more]

Atlas Air: “The fourth quarter reflected encouraging trends for airfreight generally, and was consistent with the views of tightening supply that we expressed throughout 2009…the global scale and scope of our operations positioned us very well to participate in a vigorous commercial charter market during the fourth quarter, especially in the Asia-Pacific region. Low inventory levels and stronger-than-expected holiday demand during the quarter generated yields in our Commercial Charter segment not seen since ports on the U.S. west coast were shut down in the second half of 2002. Peak charter yields were a major contributor to our earnings for the quarter…our outlook for 2010 is based on the encouraging trends we have seen in airfreight and strong demand in AMC Charter, and also assumes a modest pace of economic recovery,” William Flynn, President and Chief Executive Officer. Source: Atlas Air, 24-Feb-2010.