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Atlas Air Worldwide Holdings (AAWW) reported a net income of $81.5 million for Q1 2022, down from $89.9 million in Q1 2021. Adjusted net income increased to $88.8 million from $72.2 million year-over-year. Revenue rose to $1.0 billion, while adjusted EBITDA reached $202.8 million, an increase from $181.3 million in the previous year. The company initiated a $100 million accelerated share repurchase program and is investing in expanding its fleet with new aircraft. For Q2 2022, AAWW expects revenue to exceed $1.1 billion, driven by increased flying hours and customer contracts.
Atlas Air Worldwide (Nasdaq: AAWW) will announce its Q1 2022 results on May 5 before market opening. A conference call will be hosted by CEO John W. Dietrich and CFO Spencer Schwartz at 11:00 A.M. Eastern Time to discuss these results. The call will be accessible via the company's Investor site. A replay will be available until May 12, accessible by phone or on the website.
Atlas Air Worldwide Holdings has appointed Doug McKeen as Senior Vice President of Labor Relations, a newly created role aimed at enhancing labor relations strategy and managing employee agreements. McKeen, with over 30 years of experience including 11 years at United Airlines, is noted for his negotiation skills and employee-focused approach. His previous work includes consulting with Atlas on a recent collective bargaining agreement with pilots. This strategic hire is expected to strengthen Atlas’s labor relations and overall operational efficiency.
Titan Aircraft Investments, a joint venture between Titan Aviation Holdings and Bain Capital Credit, announced the placement of three Boeing 757-200SF freighters on long-term dry leases with Amerijet International. This partnership aims to enhance Amerijet's network in Central America and the Caribbean. Titan Aviation, managing these assets, plays a crucial role in their joint venture, which has a projected portfolio value of $1 billion and is driven by the rising demand for cargo aircraft due to e-commerce growth.
Atlas Air, a subsidiary of Atlas Air Worldwide (Nasdaq: AAWW), has signed a long-term charter agreement with Kuehne+Nagel to operate two new Boeing 747-8 freighters globally. The first aircraft is set to be delivered in Q3 2022, with the second following in Q4. This partnership is aimed at enhancing Kuehne+Nagel's airfreight network, utilizing the 747-8F's superior technology for increased payload and reduced fuel consumption. Atlas has ordered the last four 747 production aircraft to meet strong demand while supporting environmental initiatives.
Atlas Air, a subsidiary of Atlas Air Worldwide Holdings (Nasdaq: AAWW), has expanded its partnership with Cainiao Network by adding a new Boeing 747-8 Freighter under a long-term agreement. This aircraft will enhance capacity on routes between China and the Americas, scheduled to enter service in Q2 2022. The 747-8F boasts 20% higher payload and 16% lower fuel consumption compared to its predecessor, the 747-400F. The move aligns with Atlas Air’s commitment to sustainability and addresses the growing demand for e-Commerce logistics.
Atlas Air Worldwide Holdings (AAWW) reported record financial results for 2021, with revenue rising to $4.0 billion and net income at $493.3 million, or $16.16 per share. Adjusted EBITDA reached a record $1.1 billion. The fourth quarter saw net income of $176.7 million on revenue of $1.2 billion. The company announced a $200 million share repurchase program, with $100 million in accelerated repurchases. For Q1 2022, AAWW expects revenue around $1.0 billion and adjusted net income in line with the previous year, despite pandemic-related challenges.
Atlas Air Worldwide Holdings (Nasdaq: AAWW) will announce its fourth quarter and full year results on February 17, 2022, before the stock market opens. President and CEO John W. Dietrich, along with CFO Spencer Schwartz, will host a conference call at 11:00 A.M. Eastern Time to discuss these results. Interested listeners can tune in live via the company’s Investors site.
Atlas Air Worldwide has expanded its partnership with Flexport by adding a third Boeing 747-400 freighter to its fleet starting September 2022. This long-term charter arrangement underscores significant demand for airfreight services. The move will enhance Flexport’s network, increasing dedicated airfreight capacity by 50% and improving service options from Asia to major U.S. cities. The partnership aims to bolster supply chain resilience for global shippers, with expanded origins and destinations for improved logistics.
Atlas Air, a subsidiary of Atlas Air Worldwide Holdings (Nasdaq: AAWW), has extended its long-term agreement to operate a Boeing 747-400 Freighter for SF Group, enhancing SF's service between China and the U.S. The partnership, established in 2018, aims to boost SF's expanding global network, particularly in the express and e-commerce sectors. The collaboration is expected to improve delivery efficiency, aligning with SF's goals of shortening delivery times through superior transport resources.
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