Atlas Air Worldwide confirms long-term ACMI agreement with MSC Mediterranean Shipping Company

Image MSC

Atlas Air Worldwide Holdings, confirmed that its Atlas Air, Inc. subsidiary and MSC Mediterranean Shipping Company SA have entered into an agreement that enables MSC to expand its reach and capacity for its customers.

Under the terms of the long-term ACMI (aircraft, crew, maintenance and insurance) agreement, Atlas Air will operate all four of its new and incoming Boeing 777-200 freighters on a global basis for MSC, with the first delivery being taken in Q4 2022. Atlas’ order of these four aircraft was announced in January 2022.

The 777-200Fs will provide dedicated airfreight capacity to meet customer demand and will serve as a complementary service to MSC’s container shipping solutions. The 777-200F supports environmental stewardship with a twin-engine design that delivers excellent fuel efficiency and noise reduction.

“We are pleased to welcome MSC as a new customer, and look forward to supporting MSC as it develops its airfreight business and further enhances its position as a global leader in transportation and logistics,” said John Dietrich, President and Chief Executive Officer, Atlas Air Worldwide. “This new agreement will allow MSC to capitalize on the state-of-the-art service solutions provided by our aircraft and crews, as well as the unparalleled air cargo expertise brought by our Atlas team.”

Soren Toft, Chief Executive Officer, MSC, said, “We are delighted to announce the development of MSC Air Cargo, an exciting new offering for MSC clients. This strategic partnership with Atlas Air is the first step into this market and we plan to continue exploring various avenues to develop air cargo in a way that complements our core business of container shipping. Atlas Air’s fleet of 777 freighter aircraft is well-suited to support our entry into air cargo and this strategic initiative will ensure we meet the cargo requirements of our customers.”

Air101: Mediterranean Shipping Company to start cargo airline to meet increased demand

Mediterranean Shipping Company to start cargo airline to meet increased demand

Image MSC

MSC Mediterranean Shipping Company SA, a global leader in transportation and logistics, has started developing a new MSC Air Cargo solution in response to customer demand and as a complementary service to its container shipping solutions.

MSC Air Cargo has been under development for several months and the new solution will be available from early 2023, following the delivery of the first of four MSC-branded Boeing 777-200F aircraft that will be operated by Atlas Air, a subsidiary of Atlas Air Worldwide Holdings, Inc.

MSC has appointed Jannie Davel, formerly of Delta Cargo, Emirates SkyCargo and DHL to develop its air cargo business and to build the team that will implement it.

Commenting on the new initiative, MSC Chief Executive Officer Soren Toft said: "We are delighted to announce the development of MSC Air Cargo and to welcome Jannie Davel to spearhead this exciting new offering for MSC clients. This is our first step into this market and we plan to continue exploring various avenues to develop air cargo in a way that complements our core business of container shipping."

Titan Aircraft Investments and Ethiopian Airlines agree long-term lease deal for three Boeing 767 cargo planes

Photo Atlas Air Worldwide

Titan Aircraft Investments, a freighter-centric leasing company that provides dry leasing solutions to airlines worldwide has announced this week, the placement of three 767-300ER converted freighters on long-term dry leases with Ethiopian Airlines Group.

“We are delighted to welcome Ethiopian Airlines as a strategic customer and support its growing freighter fleet,” said Michael Steen, President and Chief Executive Officer of Titan Aviation Holdings and Chief Commercial Officer of Atlas Air Worldwide. “We are honoured that Ethiopian Airlines recognizes our industry and technical expertise and has placed its trust in Titan.”

Ethiopian Airlines is expected to take delivery of the first of these aircraft later this month, with the second delivery planned for later this year, and the third aircraft planned for 2023.

The addition of these three aircraft brings Titan Aircraft Investments’ freighter fleet to 10 aircraft, five of which are Boeing 767 converted freighters.

Atlas Air Worldwide Reports Second-Quarter 2022 Results

Reported Net Income of $88.3 Million

Adjusted EBITDA of $215.6 Million

Adjusted Net Income of $97.3 Million

Atlas Air Worldwide Holdings announced second-quarter 2022 net income of $88.3 million, or $2.65 per diluted share, compared with net income of $107.1 million, or $3.53 per diluted share, in the second quarter of 2021.

On an adjusted basis, EBITDA totaled $215.6 million in the second quarter this year compared with $243.7 million in the second quarter of 2021. Adjusted net income in the second quarter of 2022 totaled $97.3 million, or $3.36 per diluted share, compared with $121.8 million, or $4.10 per diluted share, in the second quarter of 2021.

Announced Transaction With Investor Group Led by Funds Managed by Affiliates of Apollo Global Management, Inc., Together With J.F. Lehman & Company, LLC and Hill City Capital LP

In a separate press release, Atlas Air Worldwide today announced that it has entered into a definitive agreement to be acquired by an investor group led by funds managed by affiliates of Apollo Global Management, Inc., together with investment affiliates of J.F. Lehman & Company, LLC and Hill City Capital LP. The transaction consideration of $102.50 per share in cash represents a 57% premium to the 30-day volume-weighted average trading price per share of Atlas Air Worldwide common stock as of July 29, 2022,1 and values Atlas Air Worldwide at an enterprise value of approximately $5.2 billion. Upon completion of the transaction, AAWW will become a privately held company and shares of Atlas Air Worldwide common stock will no longer be listed or publicly traded on the Nasdaq stock market. A copy of that press release is accessible by visiting Atlas Air Worldwide’s Investor site.

In light of the announced transaction with the investor group, Atlas Air Worldwide has cancelled the second quarter 2022 earnings call previously scheduled for Friday, August 5, 2022. The Company is not providing financial guidance for the third quarter and full year 2022.

1 July 29, 2022 represents the last full trading day prior to market speculation regarding a potential sale of the Company.

First of four new Boeing 747-8 freighters arrives for Atlas Air

Atlas Air, one of the leading suppliers of cargo and freight solutions to airlines, has taken delivery of a Boeing 747-8 freighter, which will operate on behalf of its customer Cainiao, the logistics arm of Alibaba Group. 

This new aircraft will increase capacity on routes between China and the Americas and is the first of four new 747-8 freighters that Atlas expects to receive from Boeing this year.  The addition of this 747-8F expands service for Cainiao between China, the United States, Brazil and Chile aboard the most capable, technologically advanced and environmentally-friendly widebody freighter, providing 20% higher payload capacity and 16% lower fuel consumption than the very capable 747-400F.

The iconic Boeing 747 program has been in operation for over 50 years and will continue to play a critical role in keeping global supply chains moving for decades to come “These four new 747-8s allow us to offer our customers significant growth opportunities to capitalize on strong demand and deliver value on what we consider among the best and most versatile widebody freighters in the market,” said Michael T. Steen, Executive Vice President and Chief Commercial Officer, Atlas Air Worldwide. “We are pleased that the first of our new 747s will be placed on a long-term basis with Cainiao, as they continue strengthening their presence as a global e-Commerce logistics leader, and we look forward to continue supporting their growth and expansion.”

Dandy Zhang, Commercial Director of Cainiao’s Cross-border business said: “As a global smart logistics company, Cainiao has been consistently enhancing our logistics services to satisfy the booming demand for e-Commerce in the Americas. We have been operating daily chartered flights linking China and the Americas since last year, in partnership with Atlas Air, and now we are excited to embrace the new 747-8 freighter as a token of commitment to serve our global customers with sustainable and efficient logistics.”

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Changes at the top for Atlas Air.....

Atlas Air Worldwide Holdings announced that Walter G. Borst, Raymond L. Conner and George A. Willis were elected to the Company’s Board of Directors at its Annual Meeting of Shareholders. Board members Timothy J. Bernlohr, Carol B. Hallett and John K. Wulff announced their retirements. These changes are effective immediately. The total number of Board members remains consistent at ten.

“We are delighted to welcome Walter, Ray and George to Atlas Air Worldwide’s Board of Directors,” said Board Chairman General Duncan McNabb. “They each bring deep experience as Atlas strengthens its position as a global aviation leader and we will benefit enormously from their expertise and insight.”

Newly-Elected Directors

Mr Borst is an accomplished business leader and has extensive experience in finance, accounting and risk management. He has had a distinguished career serving as Executive Vice President and Chief Financial Officer of Navistar International Corp., Chairman, Chief Executive Officer and President of General Motors Asset Management, Vice President and Treasurer of General Motors Company, as well as a number of other positions of increasing responsibility within General Motors Company.

Mr Conner brings over 40 years of global leadership experience in the airline industry. He is former Vice Chairman of The Boeing Company and retired as President and Chief Executive Officer of Boeing Commercial Airplanes. Leading up to that appointment, Mr Conner served in roles of increasing responsibility, including Vice President and General Manager of the 777 program, Vice President of Sales for the Americas, Vice President and General Manager of Supply Chain Management and Operations, and Vice President Sales, Marketing and Commercial Aviation Services.

Mr Willis has substantial global and logistics experience, as he joins the Atlas Board following a 36-year career with United Parcel Service (UPS) where he served in several executive leadership positions. In his most recent role as President of U.S. Operations, he was responsible for all package delivery services as well as UPS Airlines. Prior to that role, he served as UPS President, West Region, and as UPS President for the U.K., Ireland and Nordics Region, and Vice President of U.S. Operations and Senior Vice President of UPS Store Franchise.

Retiring Directors

Mr Bernlohr is retiring from the Board of Directors after 16 years of service to Atlas. He served as President and Chief Executive Officer of RBX Industries, Inc., in several key leadership positions in the International and Industry Products divisions of Armstrong World Industries, founder and as managing member of TJB Management Consulting, LLC, as well as Chairman of the Board of Skyline Champion Corporation and Lead Director of Chemtura Corporation.

Ms Hallett, who has served on the Atlas Board of Directors since 2006, has worked in both public and private sectors as United States Ambassador to the Commonwealth of the Bahamas and Commissioner of the United States Customs Service, President and Chief Executive Officer of the Air Transport Association of America (ATA), counsel at the U.S. Chamber of Commerce, a member of the U.S. Chamber Foundation Board of Directors, senior government relations advisor with Collier, Shannon, Rill & Scott, and chair of Homeland Security at Carmen Group, Inc.

Mr Wulff, who joined the Atlas Board of Directors in 2016, has had a distinguished career, having served as Chief Financial Officer of Union Carbide Corporation, Chairman of the Board of Directors of Hercules Inc., and partner of KPMG LLP.

“The contributions of Tim, Carol and John have shaped Atlas into the leader in aviation outsourcing it is today,” said General McNabb. “Their passion for the Company, its mission and its people have been instrumental to Atlas Air Worldwide’s success. We thank them for their dedication.”

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Atlas Air Worldwide Releases 2021 Environmental, Social and Governance Report

Atlas Air Worldwide Holdings, a leading global provider of outsourced aircraft and aviation operating services, announced the release of its 2021 Environmental, Social and Governance (ESG) Report today.

Featuring the theme “Caring for the World We Carry,” Atlas’ third ESG report outlines the Company’s sustainability and corporate responsibility achievements in 2021 under its four ESG pillars: Environmental Stewardship; Career, Culture & Equity for Our People; Social Impact & Community Engagement; and Responsible Business Growth.

“We believe building a strong and responsible business today is good for our people, communities and the planet tomorrow,” said John W. Dietrich, President and Chief Executive Officer of Atlas Air Worldwide. “Our 2021 ESG Report reflects the next step in Atlas’ ESG journey, including announcing our carbon emissions reduction target, as well as our strategies to achieve this target.”

Key highlights from the 2021 ESG Report include the following:

Environmental Stewardship

Announced its support for the International Air Transport Association (IATA) and Airlines for America’s (A4A) goal to achieve net-zero carbon emissions by 2050, as well as Atlas’ goal to reduce absolute Scope 1 emissions by 20% by 2035.

Published its Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Standards Board (SASB) disclosures in concert with its new carbon emissions reduction target.

Career, Culture & Equity for Our People

Supported employees’ quality of life through enhanced benefits and wellness programs, hybrid working policies, as well as a growing focus on diversity, equity and inclusion as a driver of innovation.

Promoted ongoing safety protocols focused on the health and well-being of the Company’s employees and the stability of its operations.

Social Impact & Philanthropy

Gave back through corporate and employee philanthropy supporting local communities, COVID-19 pandemic and disaster relief, and global humanitarian efforts.

Invested in developing and strengthening the pipeline of diverse, qualified STEM talent needed to ensure the aviation industry remains strong for years to come.

Responsible Business Growth

Improved governance policies through revisions to its Employee Handbook and Atlas Values as well as the establishment of new Leadership Principles.

Advocated on behalf of Atlas, the air cargo industry, and key stakeholders on priority topics such as attracting the aviation workforce of the next generation, strengthening transportation supply chains and supporting government policies to help the industry reduce its greenhouse gas emissions.

 

To learn more about Atlas Air Worldwide’s ESG efforts, view the Company’s 2021 ESG Report.

Use the voucher code MAY22FREE to get free delivery in May from Help for Heroes.

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not applicable to international or next day delivery.

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Atlas Air reports first-quarter 2022 net income of $81.5 million.......

Atlas Air Worldwide Holdings has just reported its first-quarter 2022 net income was $81.5 million, compared with  $89.9 million in 2021 (which included $40.9 million, $31.9 million after-tax, of CARES Act grant income).

On an adjusted basis, EBITDA totalled $202.8 million in the first quarter of 2022 compared with $181.3 million in the prior-year period. For the three months ended March 31, 2022, adjusted net income totalled $88.8 million.

“We are off to an excellent start in 2022. We delivered strong earnings, despite the pandemic-related operational challenges we continue to navigate,” said Atlas Air Worldwide President and Chief Executive Officer John W. Dietrich. “I would like to thank the entire Atlas team for their ongoing commitment to deliver this great performance.”

He added: “Atlas continues to demonstrate the value of airfreight as a vital component of the global supply chain. We are seeing a sustaining shift in long-term customer demand for Atlas’ dedicated aircraft, and the speed and reliability airfreight provides. During the first quarter, our customers continued to enter and enhance long-term contracts with Atlas for dedicated freighter capacity.

Atlas Air latest results and news.

Atlas Air, Inc has just released its latest figures for last year showing an adjusted net income of $551.0 million on a bumper year for the cargo giants.

“2021 was another outstanding year with excellent financial and operating performance. Our greatest strength is our people and I’d like to thank everyone at Atlas for working together to deliver these very strong results. We are also very pleased to have achieved a long-term labour agreement with our pilots that recognizes their significant contributions to Atlas. With the strength, flexibility and resiliency of our global business model, our experienced and dedicated team delivered high-quality service to our customers in an operating environment with persistent pandemic-related obstacles,” said Atlas Air Worldwide President and Chief Executive Officer John W. Dietrich.

The company also just announced it has entered into a long-term, dedicated charter agreement to operate two of its new incoming Boeing 747-8 freighters on a global basis for Kuehne+Nagel, one of the world’s largest freight forwarders.

Atlas Air will commence operation of these aircraft for Kuehne+Nagel following their delivery from Boeing, with one expected in the third quarter and the second in the fourth quarter of 2022. Atlas Air operates one of the world’s largest fleets of 747-8Fs, the most capable freighter aircraft in the world. These two aircraft placed with Kuehne+Nagel are the last 747s Boeing will produce.

As previously announced, Atlas ordered the last four 747 production aircraft to capitalize on strong demand and deliver value for its customers, while also bolstering its commitment to environmental stewardship through the reduction of aircraft emissions, resource consumption and noise. This legendary aircraft has been in production for over 50 years and will continue to serve the needs of our global supply chains for decades into the future.

“We are delighted to expand our partnership with Kuehne+Nagel by providing dedicated capacity for their growing global airfreight network,” said Atlas Air Worldwide President and Chief Executive Officer John W. Dietrich. “The Boeing 747-8F serves an incredibly important role in global airfreight, with advanced technology that allows for lower fuel consumption, higher capacity and unique nose-loading capability. We look forward to taking delivery of these two 747s and operating them for Kuehne+Nagel to support their network for years to come.”

Yngve Ruud, Member of the Management Board of Kuehne+Nagel, responsible for Air Logistics, commented: "As a market leader in airfreight, Kuehne+Nagel further expands its dedicated charter network to support customers with solutions for long-term planning and high-quality service. We are proud to partner with Atlas Air and include these two new Boeing 747-8Fs in our already extensive global capacity offering."

The 747-8F provides 20% higher payload capacity and 16% lower fuel consumption than the very capable 747-400F.

A new deal was arranged with Cainiao Network, the logistics arm of Alibaba Group, by adding a new Boeing 747-8 Freighter under a long-term agreement to increase capacity on routes between China and the Americas.

This expansion builds upon Atlas Air’s partnership with Cainiao, and the new aircraft will enter service for Cainiao in the second quarter of 2022, linking China with the United States, Brazil and Chile.

This 747-8F aircraft is among the last 747s ever to be produced by Boeing. As previously announced, Atlas ordered the last four 747 production aircraft to capitalize on strong demand and deliver value for its customers, while also bolstering its commitment to environmental stewardship through the reduction of aircraft emissions, resource consumption and noise. The iconic Boeing 747 program has been in operation for over 50 years and will continue to play a critical role in keeping global supply chains moving for decades to come.

“We are very pleased to extend our strong partnership with Cainiao with the placement of one of our new 747-8Fs, the best performing widebody freighter in the industry with unique nose-loading capability,” said Atlas Air Worldwide President and Chief Executive Officer John W. Dietrich. “Cainiao is a leader in the fast-growing e-Commerce logistics market, and we look forward to continuing to support its global network with the superior and reliable service Atlas Air provides. This fuel-efficient, high-capacity aircraft reinforces the commitment to environmental stewardship that Atlas and Cainiao share.”

“Through our successful partnership, Cainiao has been able to offer our customers across the Americas with faster and more eco-friendly deliveries provided by Atlas’ global operating capabilities. We are excited to add the new Boeing freighter to our expanding partnership in response to the growing demand for e-Commerce and greener logistics across the world,” said William Xiong, Cainiao's Chief Strategist and General Manager for Export Logistics.

The Boeing 747-8 Freighter is the most capable, technologically advanced and environmentally friendly widebody freighter. The 747-8F provides 20% higher payload capacity and 16% lower fuel consumption than the very capable 747-400F.

In November 2021, Cainiao expanded its partnership with Atlas Air to include daily charter flights operated between China and Latin America in response to the growth of cross-border trade between China and Latin America.

Full-Year Results

Atlas Air Extends Long-Term Agreement with SF Group

Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings, Inc. has reached an agreement for the extension of a long-term aircraft transportation services agreement to operate a Boeing 747-400 Freighter for SF Group (SF), China’s leading express service provider, between China and the United States.

The agreement, which has been in place since 2018, enhances the operating capability of SF and extends its fast-growing global network.

SF is one of the largest integrated logistics service providers in China and the fourth largest express enterprise worldwide in terms of market capitalization and is committed to becoming a data and technology-driven company providing independent third party solutions. It empowers customers with leading technology and provides customers with smart and integrated supply chain solutions covering various industries and application scenarios. SF is also a smart logistics operator with network scale advantages, integrating aviation, ground and information networks, boasting an operating model with strong management and control over the whole network.

“We are very pleased to extend our strong partnership with SF,” said John W. Dietrich, President and Chief Executive Officer of Atlas Air Worldwide. “SF is a key player in the growing express and e-commerce markets, and we look forward to supporting their rapid global expansion. We value the opportunity to continue providing the superior, reliable service that SF and its customers expect of Atlas.”

SF, based in Shenzhen, Guangdong, is one of the world’s largest express providers and one of China’s leading couriers.

“Our partnership with Atlas Air supports our network between China and the U.S. to further integrate our high-quality transport capacity resources to shorten delivery times,” said a representative of SF.

Atlas Air Worldwide is a leading global provider of outsourced aircraft and aviation operating services. It is the parent company of Atlas Air, Inc., and Titan Aviation Holdings, Inc., and is the majority shareholder of Polar Air Cargo Worldwide, Inc. Our companies operate the world’s largest fleet of 747 freighter aircraft and provide customers the broadest array of Boeing 747, 777, 767 and 737 aircraft for domestic, regional and international cargo and passenger operations.  

Air101: 4 Ways to Make Aviation More Sustainable

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Four new Boeing 777 Freighters for Atlas Air

Atlas Air Worldwide Holdings confirmed an order with Boeing for four new 777 freighters in response to strong customer demand for dedicated international wide-body airfreight capacity, particularly in the fast-growing e-Commerce and Express markets.

The first of the four new 777-200LRFs is expected to be delivered in November 2022 with the other three expected to be delivered throughout 2023. This investment will bolster Atlas’ 777 fleet, which currently includes 14 freighters that the company operates or provides to customers on a dry-lease basis through its Titan Aviation Leasing subsidiary.

“We are excited to expand our fleet and service offerings for our existing and prospective customers with these four new 777s. With the best team in the industry as well as our focus on innovation and prudent fleet management, Atlas is serving the evolving needs of the global supply chain and delivering value for our customers,” said John W. Dietrich, Atlas Air Worldwide President and Chief Executive Officer.

“These new aircraft will advance our strategic growth plan as we continue to capitalize on strong demand for dedicated airfreight capacity. This investment aligns with our disciplined approach to deploying capital and meets our strict return guidelines when investing in aircraft. We anticipate this transaction will drive strong earnings and cash flows, and enhance shareholder value,” Mr. Dietrich added.

DB Schenker extends long-term agreement with Atlas Air

Atlas Air, part of the Atlas Air Worldwide Holdings group have confirmed an extension of its partnership with Schenker Flight Services GmbH (DB Schenker), one of the world’s largest integrated logistics service providers, to provide transpacific service. 

Atlas Air’s relationship with DB Schenker includes supporting its global network by providing charter capacity service. The new arrangement builds on an agreement Atlas Air reached with DB Schenker in 2020, and extends the dedicated capacity, which Atlas Air provides on multiple flights every week. 

“We are excited to strengthen our partnership with DB Schenker through this long-term, extended agreement to provide critical capabilities for our valued customer,” said John W. Dietrich, President and Chief Executive Officer of Atlas Air Worldwide.  “We appreciate DB Schenker’s confidence in Atlas Air’s ability to deliver their cargo safely and efficiently as we support their network across the Pacific and around the world.” 

Björn Eckbauer, Senior Vice President, Global Operations and Procurement Airfreight for DB Schenker, said the flights Atlas Air provides have become an essential part of their global flight network.  “We are excited to extend our current partnership with Atlas Air on our transpacific charter operations.  The timely and reliable operation of Atlas Air fits perfectly into our commitment to provide our customers a reliable service for air transportation in their supply chain,” Mr Eckbauer said. 

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New FedEx ACMI deal for Atlas Air

Atlas Air Worldwide confirmed this week that it has entered into a long-term agreement with FedEx to provide two 747-400 freighter aircraft on a full-time aircraft, crew, maintenance and insurance (ACMI) basis. This new agreement is in addition to the company’s existing multi-year peak season contract that provides FedEx with a minimum of five aircraft during the fourth quarter.

Both 747-400 freighters have entered service and are flying on behalf of FedEx to support their growing express and e-commerce network.

“We are pleased to grow our long-term relationship with FedEx. This agreement reflects the continued strong demand for airfreight capacity, particularly in the express and e-commerce markets,” said John W. Dietrich, President and Chief Executive Officer of Atlas Air Worldwide. “Atlas is a leader in supporting express networks, with a focus on operating the most modern, fuel-efficient aircraft to deliver high levels of on-time performance for our customers.”

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Atlas Air and DHL Express Extend Agreements for 20 Freighters

Atlas Air, Inc. confirmed this week that it has entered into contract extensions with DHL Express to continue operating 20 freighter aircraft in support of their fast-growing express and e-commerce markets.

These agreements build on the long-standing strategic partnership between Atlas Air Worldwide and DHL, which began in 2008 and included DHL acquiring 49% of AAWW’s subsidiary, Polar Air Cargo, as well as a long-term agreement for six dedicated 747-400Fs to operate on key Trans-Pacific routes.  

The partnership has grown significantly over the years, and under these extended agreements, Atlas Air will continue to operate four different aircraft platforms for DHL Express, including:

Six Boeing 747-8 freighters

Two Boeing 747-400 freighters

Eight Boeing 777-200 freighters

Four Boeing 767-300 freighters

“DHL Express is a global leader in express and e-commerce, and it is our privilege to contribute to their continued success,” said John W. Dietrich, President and Chief Executive Officer of Atlas Air Worldwide. “These agreements build on our successful 13-year partnership. We look forward to continuing to provide DHL Express with critical capacity through our modern, fuel-efficient fleet. As this agreement indicates, Atlas is capitalizing on the strong global airfreight market conditions as we deepen relationships with our customers.”

“We are pleased to extend our long-standing and valued partnership with Atlas Air,” said Rob Hyslop, Executive Vice President Aviation at DHL Express. “Continuing to utilize Atlas and its global operating capabilities enables us to best serve our customers and their continued high demand for fast international shipping, fueled by the megatrend of e-commerce and the overall importance of global trade.”

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Atlas Air Worldwide Reports Second-Quarter 2021 Results

Atlas Air Worldwide Holdings, Inc. announced a second-quarter 2021 net income of $107.1 million, or $3.53 per diluted share, compared with net income of $78.9 million, or $3.01 per diluted share, in the second quarter of 2020.

On an adjusted basis, EBITDA totalled $243.7 million in the second quarter this year compared with $247.0 million in the second quarter of 2020. Adjusted net income in the second quarter of 2021 totalled $121.8 million, or $4.10 per diluted share, compared with $123.2 million, or $4.71 per diluted share, in the second quarter of 2020.

Second-quarter 2021 Airline Operations segment performance improved significantly compared with the prior year that included exceptionally high commercial cargo Charter yields in April and May 2020.

“Our strong performance continued in the second quarter, with revenue and earnings exceeding our already high expectations,” said Atlas Air Worldwide President and Chief Executive Officer John W. Dietrich. “These positive results were driven by our team executing our strategy, increasing the utilization of our aircraft and delivering safe, high-quality service for our customers.

“Our performance continued to benefit from operating the four 747 freighters and one 777 freighters we reintroduced to our fleet throughout 2020. This capacity, along with a tremendous team effort, contributed to our ability to enter into and extend long-term agreements with strategic customers, as well as to capitalize on lucrative short-term opportunities in the strong global air freight market.

“Economic and supply chain conditions remain favourable for air cargo and our dedicated freighters. These include global airfreight volumes exceeding pre-pandemic levels, an acceleration of e-commerce and express growth, low inventory levels, positive Purchasing Managers’ Index readings, as well as congestion, long lead times and elevated pricing for ocean freight. Demand also continues to exceed available supply, particularly on long-haul international routes, as belly capacity on a significant number of widebody passenger aircraft remains out of the market.”

Atlas Air Worldwide announces board refreshment

Atlas Air Worldwide Holdings,  announced changes to its Board of Directors. General Duncan J. McNabb, U.S. Air Force (retired), previously Lead Independent Director of the Board, has been named Chairman. General McNabb succeeds William J. Flynn, who is retiring from the Board. Current Board member, Jane H. Lute, is also retiring. The company confirmed that Beverly K. Goulet and Carol J. Zierhoffer have been elected to the Board of Directors during the Annual Shareholder Meeting today. These changes are effective immediately. The total number of Board members remains consistent at ten.

Duncan J. McNabb Named Chairman, Board of Directors

William J. Flynn, Current Chairman, Retires

New Directors Beverly K. Goulet and Carol J. Zierhoffer Elected to Board

Current Board Member Jane H. Lute Retires

Chairman Transition

“It has been my honour to serve as Chairman of the Atlas Air Worldwide Holdings Board,” said Mr Flynn. “Duncan has served as Lead Independent Director and demonstrated exceptional leadership, acumen and insight that make him the clear choice to lead the Board and govern the company on its path forward. In addition, the appointment of Beverly Goulet and Carol Zierhoffer underscores the commitment of the Nominating and Governance Committee and of the full Board to continue to leverage a diversity of skill sets and professional backgrounds. I feel confident in the path ahead for Atlas.”

Atlas Air and Polar Air Cargo Achieve Center of Excellence for Independent Validators (CEIV) Pharma Certification through 2024

Atlas Air Worldwide Holdings, Inc. announced that its companies Atlas Air, Inc. and Polar Air Cargo Worldwide, Inc. have each achieved the Center of Excellence for Independent Validators (CEIV) Corporate Pharma credential from the International Air Transport Association (IATA), confirming their commitment to meeting pharmaceutical manufacturers' requirements to transport temperature-controlled and time-sensitive products, including vaccines.

CEIV Pharma is a quality certification program developed by IATA that has established high standards for safe air transport of pharmaceuticals around the world to ensure product integrity. Operators who achieve the CEIV Pharma credential undergo a rigorous process to confirm their experience, education and adherence to these high standards.

By achieving this certification, Atlas Air and Polar are even better positioned to deliver the best form of safe transportation for their valued pharma and medical customers around the world, offering them the assurance that CEIV Pharma certification provides.

Strong First-Quarter 2021 Results for Atlas Air Worldwide

Reported Net Income Increased to $89.9 Million
Adjusted Net Income Grew to $72.2 Million
Adjusted EBITDA Rose to $181.3 Million
Strong 2Q21 Outlook

Atlas Air Worldwide Holdings, Inc. announced in recent days that first-quarter 2021 net income of $89.9 million, compared with $23.4 million, for the first quarter of 2020.

On an adjusted basis, EBITDA rose to $181.3 million in the first quarter of 2021 compared with $121.2 million in the prior-year period. Adjusted net income grew to $72.2 million, or $2.45 per diluted share, in the first quarter of 2021 compared with $29.9 million, or $1.15 per diluted share, in the prior-year period.

“Our performance was driven by the strength and flexibility of our global business model and our team continuing to capitalize on the current airfreight environment, with demand and yields that are well above typical seasonal levels,” said Atlas Air Worldwide President and Chief Executive Officer John W. Dietrich.

“Our results also benefited from flying four 747 freighters and one 777 freighters that we reintroduced to our fleet throughout 2020 to serve customer demand.

“I would like to thank our team for continuing to deliver safe, high-quality service for our customers in this very challenging operating environment. We flexed our global network and increased aircraft utilization to match airfreight demand. We also positioned ourselves for the future by entering into and extending numerous long-term charter agreements with strategic customers.”

Atlas Air and cabin crew union agree deal.

Photo iflymia

Atlas Air, a leading global provider of outsourced aircraft and aviation operating services has confirmed its Flight Services International (FSI) has reached a five-year agreement with the Transport Workers Union of America (TWU) Local 591, which represents flight attendants who support Atlas Air’s passenger services.

FSI provides Atlas Air with over 400 flight attendants to serve its thousands of passenger flights a year. Customers include U.S. military service personnel, sports teams, entertainers and other VIP passengers. Atlas Air has worked with FSI since 2012.

“We are pleased to recognize the great contributions of our flight attendant workforce with this updated wage and benefits package,” said Joni Ffrench, President of Flight Services International.

“FSI flight attendants are true partners with us and provide excellent service to our customers on passenger flights,” said John W. Dietrich, Atlas Air Worldwide President and Chief Executive Officer. “We applaud FSI for their efforts in reaching this desired outcome for their flight attendants.”

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Atlas Air Worldwide order four Boeing 747-8 Freighters - the last ones ever.

Atlas Air Worldwide has confirmed an agreement to purchase four 747-8 Freighters from planemaker Boeing, closing out the 747-8 production line in 2022.

“The 747-8F is the best and most versatile widebody freighter in the market, and we are excited to bolster our fleet with the acquisition of these four aircraft,” said John W. Dietrich, Atlas Air Worldwide President and Chief Executive Officer. “This significant growth opportunity will enable us to capitalize on strong demand and deliver value for our existing and prospective customers. The 747-8F further complements our longstanding focus on leading-edge technology. Dedicated freighters – like those operated by our Atlas, Polar and Southern subsidiaries – will continue to be in demand as the global airfreight market, particularly the e-commerce and express sectors, continues to grow.”

The 747-8F has a maximum payload capacity of 137.7 metric tonnes (137,750 kg) and on average uses 16% less fuel compared to previous-generation 747s. The jet also features 30% quieter engines. The 747-8 aeroplanes in this agreement will be the final four aircraft to roll off the production line in Everett, Washington.