ATLAS Air Worldwide has seen its quarterly revenues pass the US$1 billion mark for the first time in the company's history, reports London's Air Cargo News.
The company's revenues increased 25.5 per cent year on year in the third quarter, while adjusted earnings before EBITDA climbed 42.9 per cent last year to $280.5 million and net income was up 61.4 per cent to $119.5 million.
The improvement is a 25.8 per cent increase in revenues per block hour to $10,943, while total block hours were down at 90,963.
Meanwhile, the company also finalised a new contract with its pilots.
'We delivered outstanding financial and operating results in the third quarter. We flew over 90,000 block hours and generated quarterly revenue that exceeded $1 billion for the first time in our company's history,' said atlas Air Worldwide president John Dietrich.
'In a very challenging pandemic operating environment, our team pulled together to increase utilisation of our aircraft, and safely serve our customers and the global supply chain,' said Mr Dietrich.
'We recently announced long-term contract extensions for 20 aircraft with DHL Express as well as a new long-term ACMI agreement with FedEx,' he said.
'We have also extended or entered into other new long-term agreements with additional strategic customers.'
SeaNews Turkey
The company's revenues increased 25.5 per cent year on year in the third quarter, while adjusted earnings before EBITDA climbed 42.9 per cent last year to $280.5 million and net income was up 61.4 per cent to $119.5 million.
The improvement is a 25.8 per cent increase in revenues per block hour to $10,943, while total block hours were down at 90,963.
Meanwhile, the company also finalised a new contract with its pilots.
'We delivered outstanding financial and operating results in the third quarter. We flew over 90,000 block hours and generated quarterly revenue that exceeded $1 billion for the first time in our company's history,' said atlas Air Worldwide president John Dietrich.
'In a very challenging pandemic operating environment, our team pulled together to increase utilisation of our aircraft, and safely serve our customers and the global supply chain,' said Mr Dietrich.
'We recently announced long-term contract extensions for 20 aircraft with DHL Express as well as a new long-term ACMI agreement with FedEx,' he said.
'We have also extended or entered into other new long-term agreements with additional strategic customers.'
SeaNews Turkey
