Atlas Air Worldwide Holdings 3Q2013 results below expectations

Atlas Air Worldwide Holdings revenue down 1% - financial highlights for three months ended 30-Sep-2013:

• Total operating revenue: USD405.4 million, -0.9% year-on-year;
• • ACMI: USD189.6 million, +6.7%;
  • AMC charter: USD95.7 million, -18.5%;
  • Commercial charter: USD104.6 million, -3.2%;
  • Dry leasing: USD11.9 million, +288%;
• Total operating costs: USD347.7 million, +0.2%;
• • Fuel: USD93.4 million, -5.7%;
  • Labour: USD74.2 million, +3.9%;
• Operating profit: USD57.7 million, -7.3%;
• Net profit: USD23.7 million, -31.4%;
• Total assets: USD3644 million;
• Cash and cash equivalents: USD281.0 million;
• Total liabilities: USD2357 million. [more - original PR]

Atlas Air Worldwide: "Earnings in the third quarter of 2013 were below our expectations, reflecting market factors. Demand in the commercial airfreight peak season through September was less than we anticipated. Airfreight yields remained under pressure, impacting our Commercial Charter segment," William Flynn, President and CEO. Source: Company statement, 07-Nov-2013.