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Titan Aircraft Investments announced a long-term dry lease of three 767-300ER freighters to Ethiopian Airlines Group, enhancing its freighter fleet to 10 aircraft. Ethiopian Airlines is set to receive the first aircraft by September 2022, with additional deliveries scheduled for later in the year and in 2023. This partnership aims to support Ethiopian's growing cargo operations, marking a strategic step in Titan's expansion as a leading freighter leasing company, which now manages 33 aircraft with a cumulative value exceeding $1.5 billion.
Atlas Air has announced an extension of its partnership with Qantas Freight, which began in 2004. This agreement will see Atlas Air provide additional long-haul capacity utilizing Boeing 747-400Fs to enhance service links between Australia, Asia, and the U.S. The extension aims to meet the growing demand for air freight while supporting Qantas's global network expansion. Both companies are committed to sustainability and the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), with initiatives in place to improve fuel efficiency and lower emissions.
Atlas Air Worldwide Holdings (Nasdaq: AAWW) reported Q2 2022 net income of $88.3 million, down from $107.1 million in Q2 2021, translating to $2.65 per diluted share. Adjusted EBITDA declined to $215.6 million from $243.7 million year-over-year. The company announced a definitive agreement for acquisition by an investor group at $102.50 per share, valuing Atlas at approximately $5.2 billion. Revenue surged to $1.2 billion despite a decrease in block hours due to operational disruptions from COVID-19. Share buybacks are suspended amid the acquisition.
Atlas Air Worldwide has announced a definitive agreement to be acquired by a consortium led by Apollo, J.F. Lehman, and Hill City Capital for approximately $5.2 billion. Shareholders will receive $102.50 per share in cash, reflecting a 57% premium over the 30-day average trading price before the announcement. The acquisition aims to accelerate Atlas's strategic growth and operational capabilities, with completion expected in Q4 2022 or Q1 2023, pending shareholder and regulatory approvals.
Atlas Air Worldwide Holdings (Nasdaq: AAWW) has announced the recognition of Lillian Dukes, Senior Vice President of Technical Operations, as one of Savoy Magazine’s Most Influential Black Executives in Corporate America for 2022. This accolade highlights her leadership in data-driven improvements and mentorship in the aviation industry. Dukes has a strong background with major corporations and is involved in initiatives supporting women in leadership. This recognition emphasizes the company’s commitment to strong leadership and diversity within its ranks.
Atlas Air Worldwide Holdings (Nasdaq: AAWW) will announce its Q2 2022 results on August 5, 2022, before the market opens. A conference call featuring CEO John W. Dietrich and CFO Spencer Schwartz is scheduled for 11:00 A.M. Eastern Time. The call can be accessed live via Atlas Air's Investor site. A replay will also be available afterward.
Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings (Nasdaq: AAWW), announced the delivery of a Boeing 747-8 freighter dedicated to its customer Cainiao, the logistics arm of Alibaba Group. This aircraft will enhance capacity on routes between China and the Americas as part of a long-term agreement. It boasts a 20% higher payload capacity and 16% lower fuel consumption compared to its predecessor, the 747-400F. The investment highlights Atlas’s commitment to sustainable aviation and supports Cainiao’s growth in e-Commerce logistics.
Atlas Air Worldwide Holdings (Nasdaq: AAWW) has announced the election of Walter G. Borst, Raymond L. Conner, and George A. Willis to its Board of Directors, effective immediately. These appointments follow the retirement of Timothy J. Bernlohr, Carol B. Hallett, and John K. Wulff. The board remains at ten members. Chairman General Duncan McNabb expressed confidence that the new directors will enhance the company’s strategic direction as a leader in global aviation.
Atlas Air has launched its Pathway to Success Program in partnership with Embry-Riddle Aeronautical University, focusing on recruiting and training qualified pilots. This initiative aims to enhance Atlas Air's workforce by offering graduates preferential hiring opportunities. The program is designed to secure well-paying jobs for highly trained pilots and allows participants to gain experience flying a diverse fleet, including 747 and 777 aircraft. Candidates must meet specific academic and certification criteria to qualify for the program.
Atlas Air Worldwide Holdings (AAWW) announced its 2021 ESG Report, emphasizing sustainability and corporate responsibility. Key highlights include a target to reduce absolute Scope 1 carbon emissions by 20% by 2035, in line with IATA’s net-zero emissions goal by 2050. The report showcases initiatives on environmental stewardship, employee equity, social philanthropy, and responsible business growth. CEO John W. Dietrich reinforced the company’s commitment to achieving these targets while promoting a strong workplace culture. For more details, visit the 2021 ESG Report.
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