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Atlas Air 2018 profit and revenue soars on e-commerce boom

ATLAS Air Worldwide Holdings (WW) said it expected 2018 adjusted pre-tax profit to increase more than 20 per cent to US$525 million and adjusted net income to rise 50 per cent, drawn on record revenues of $2

Atlas Air 2018 profit and revenue soars on e-commerce boom

ATLAS Air Worldwide Holdings (WW) said it expected 2018 adjusted pre-tax profit to increase more than 20 per cent to US$525 million and adjusted net income to rise 50 per cent, drawn on record revenues of $2

21 February 2019 - 19:00

ATLAS Air Worldwide Holdings (WW) said it expected 2018 adjusted pre-tax profit to increase more than 20 per cent to US$525 million and adjusted net income to rise 50 per cent, drawn on record revenues of $2.7 billion, a year-on-year increase of 24 per cent.

Revenue in the fourth quarter of 2018 rose by 22 per cent year on year to a record $765 million.



William Flynn, president and CEO of the Purchase, New York-based provider of outsourced aircraft and aviation operating services predicted continued growth this year.



'We expect record Atlas volumes and earnings in 2019 driven by our multi-year initiatives, which enable us to serve a greater range of customers and provide a solid platform for future growth initiatives.



'2018 was another great year for Atlas, with substantial growth in the scale, diversity and profitability of our business,' he said.



'Our focus is on express and e-commerce, and fast-growing markets in Asia and elsewhere, such as South America, where we had the strongest year [in 2018] in the company's history.



'As air freight tonnage continues to grow, further globalisation will require time-definite air networks to facilitate the flow of goods,' Mr Flynn added.



'We are well-positioned to capitalise on the scale and scope of our domestic and worldwide operations, to drive record volume, revenue, adjusted EBITDA [earnings before income, taxation, depreciation and amortisation] and adjusted net income this year, and to further reduce our net leverage ratio,' he said.



'We expect to benefit from a full-year of flying by the aircraft we added in 2018 for customers such as Asiana, DHL Express, Inditex and SF Express.'



Plus: 'We will see our first year of flying 20 767-300s for Amazon [and] we look forward to operating three incremental 747-400 freighters for Nippon Cargo Airlines, which will increase our near-term fleet to 115 aircraft.



'And we anticipate that the flying we do for the military will be higher than the flying we did in 2018.'


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