AAWW - AAWW STOCK NEWS

On April 18, 2023, Atlas Air, a subsidiary of Atlas Air Worldwide, announced its partnership with Kuehne+Nagel and SR Technics to form the Sustainable Engine Alliance. This initiative aims to establish new low-carbon aircraft engine supply chain standards, aligning with the Science Based Targets Initiative (SBTi). The alliance seeks to reduce environmental impacts by deploying sustainable fuels and providing emission transparency.

The initiative targets a significant reduction in scope 3 emissions related to the engine supply chain ahead of the aerospace industry’s 2050 sustainability goals. Key leaders express optimism about setting responsible sourcing standards and enhancing industry collaboration towards sustainability.

On March 17, 2023, Atlas Air Worldwide (AAWW) announced the completion of its acquisition by an investor group led by Apollo (APO) along with J.F. Lehman & Company and Hill City Capital. Each Atlas shareholder will receive $102.50 in cash per share. This acquisition marks a significant milestone as Atlas aims to leverage its investor partners' resources for growth, while continuing its operations under the Atlas name. The current executive team, led by CEO John Dietrich, will remain in place. Following the transaction, Atlas Air’s stock will no longer be traded on the NASDAQ.

Atlas Air Worldwide has officially transitioned to a privately held company following its acquisition by an investor group led by Apollo, J.F. Lehman & Company, and Hill City Capital. The buyout, announced on August 4, 2022, concluded with shareholders receiving $102.50 per share in cash. The company, known for its global aviation services, will maintain its name and leadership structure, continuing to serve the complex global supply chain. The new partnership aims to leverage Atlas' strong service reputation to enhance growth in the air cargo industry.

Atlas Air Worldwide Holdings (Nasdaq: AAWW) reported its full-year 2022 results, showing a net income of $355.9 million, down from $493.3 million in 2021. Adjusted net income for 2022 was $418.0 million, or $14.23 per diluted share, compared to $551.0 million or $18.51 per diluted share in the prior year. Adjusted EBITDA decreased to $899.2 million from $1.1 billion. Despite these declines, all eight new aircraft were placed under long-term contracts. The company expects to finalize the sale to an investor group in Q1 2023.

Atlas Air Worldwide Holdings (Nasdaq: AAWW) is set to announce its financial results for Q4 and the full year ending December 31, 2022, on February 23, prior to market opening. Due to a pending acquisition by an investor group, including Apollo Global Management, Atlas Air will not conduct an earnings conference call. The company specializes in outsourced aircraft and aviation services, operating the world's largest fleet of 747 freighter aircraft. As a parent company, it oversees Atlas Air, Inc., Titan Aviation Holdings, and is a major shareholder of Polar Air Cargo Worldwide.

Atlas Air, a subsidiary of Atlas Air Worldwide Holdings (Nasdaq: AAWW), announced the departure of a 747-8F cargo flight from Washington Dulles International Airport, delivering humanitarian supplies to earthquake victims in Turkey and Syria. This mission, in collaboration with Turkish Airlines and the Turkish Embassy, aims to support thousands affected by the disaster. John Dietrich, CEO of Atlas Air, expressed the company's commitment to providing critical air freight capacity for this urgent relief effort, highlighting the dedication of first responders and humanitarian organizations.

Atlas Air, a subsidiary of Atlas Air Worldwide Holdings (Nasdaq: AAWW), has taken delivery of the last Boeing 747-8 Freighter, finalizing an order made in January 2021. This aircraft will operate under a long-term agreement for Apex Logistics, part of Kuehne+Nagel. CEO John Dietrich highlighted Atlas's long-standing relationship with the 747 platform, noting its critical role in transporting various cargo, including medical supplies. The new aircraft boasts improved fuel efficiency and lower emissions. The delivery reflects a strategic partnership with Kuehne+Nagel to enhance their air cargo capacity.