Atlas Air 747-8F Artwork
\nAfter a solid performance in 2015 and a robust fourth quarter, William Flynn, president and CEO of Atlas Air Worldwide Holdings (AAWW), said the company is positioned for earnings and growth in 2016.
\nAfter adjusting for a US$100 million one-time charge to settle a class-action lawsuit, presumably the cargo cartel case that dragged on for 10 years, AAWW reported fourth quarter net income of $39.4 million, up 1.5 percent year-over-year. However, total operating revenue declined 3.4 percent to $472 million for a total operating loss of $43.7 million and a net loss of $37.6 million for Q4 2015.
\nFor the full year of 2015, the company had a net operating loss of $43.7 million, compared to $60 million net operating profit in 2014. Total operating revenue was $472 million, compared to $488 million in 2014.
\nFlynn said the company added a tenth 747-8 freighter, increased its CMI operations by four 767s, returned a 747-400BCF to the\u00a0 global charter part of the business, and expanded its dry-leasing portfolio to include two 767 aircraft that will also operate on a CMI basis.
\n\u201cIn addition, we refinanced higher-cost debt on two 747-8s and five 747-400 freighters, enabling us to reduce our cost of debt, increase cash flows, enhance adjusted earnings per share, unencumber these 747-400s and add flexibility to our fleet,\u201d Flynn said.
\nAdditionally, Atlas Air Worldwide is in the process of acquiring Southern Air in an all-cash deal for approximately $110 million, which Flynn said will be immediately accretive. DHL, which is AAWW\u2019s biggest customer is said to be supportive of the acquisition.
\nSource: aircargoworld<\/p>\n","protected":false},"excerpt":{"rendered":"
Atlas Air 747-8F Artwork After a solid performance in 2015 and a robust fourth quarter, William Flynn, president and CEO of Atlas Air Worldwide Holdings (AAWW), said the company is positioned for earnings and growth in 2016. After adjusting for a US$100 million one-time charge to settle a class-action lawsuit, presumably the cargo cartel case[…]<\/a><\/p>\n","protected":false},"author":1,"featured_media":1103,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[49],"class_list":["post-1102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-airport-code"],"_links":{"self":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts\/1102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/comments?post=1102"}],"version-history":[{"count":0,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts\/1102\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/media\/1103"}],"wp:attachment":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/media?parent=1102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/categories?post=1102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/tags?post=1102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}