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Atlas Air Worldwide Holdings reported a first-quarter 2021 net income of $89.9 million, significantly up from $23.4 million in Q1 2020. Adjusted net income stood at $72.2 million, while adjusted EBITDA rose to $181.3 million. The company anticipates flying approximately 90,000 block hours in Q2 2021, projecting revenues of $950 million and adjusted EBITDA of $210 million. Challenges remain due to pandemic-related impacts, with ongoing uncertainties around international travel and market conditions influencing their outlook.
Atlas Air Worldwide Holdings (Nasdaq: AAWW) will disclose its first quarter results for the period ending March 31, 2021, on May 5, 2021, before the stock market opens. A conference call is scheduled for 11:00 A.M. Eastern Time on the same day, featuring John W. Dietrich, CEO, and Spencer Schwartz, CFO. The call can be accessed via the company’s Investor site. A replay will be available until May 12, 2021, and complimentary slides for the presentation will be downloadable prior to the call. Atlas Air Worldwide is a key player in outsourced aircraft services.
Atlas Air Worldwide (Nasdaq: AAWW) announced a five-year agreement between its provider of flight attendant services, Flight Services International (FSI), and the Transport Workers Union of America (TWU) Local 591. This marks the first labor contract for FSI's flight attendants since TWU's organization. FSI supplies over 400 flight attendants for Atlas Air's passenger services, which cater to U.S. military personnel, sports teams, and VIPs. The updated wage and benefits package acknowledges the valuable contributions of the flight attendant workforce.
Titan Aircraft Investments has acquired two 767-300ER aircraft from Icelandair, which will be converted to freighters and leased long-term. This addition increases Titan's portfolio to three aircraft, aligning with Icelandair's cargo expansion goals. The new freighters, which can carry 50% more freight than Icelandair's current B757-200s, will enhance operational capacity while supporting Iceland as a cargo hub. Titan Aviation Holdings manages these assets, further solidifying its position in the global air freight market, boasting one of the largest freighter portfolios.
Atlas Air Worldwide Holdings (Nasdaq: AAWW) reported strong financial performance for Q4 and full-year 2020.
Net income reached $184.0 million in Q4, a significant recovery from a loss of $410.2 million in the previous year.
Full-year net income surged to $360.3 million from a loss of $293.1 million in 2019, with adjusted EBITDA climbing to $844.2 million.
The company anticipates continued demand and expects Q1 2021 adjusted net income to grow by 60-65% compared to Q1 2020.
Atlas Air Worldwide Holdings (Nasdaq: AAWW) will announce its fourth quarter and full year results on February 18, 2021, before the market opens. A conference call, hosted by CEO John W. Dietrich and CFO Spencer Schwartz, is scheduled for 11:00 A.M. Eastern Time to discuss the results. Interested listeners can access the call via the Investor site. A replay will be available until February 25, along with presentation slides. Atlas Air Worldwide is a leader in outsourced aviation services, operating the largest fleet of 747 freighter aircraft.
Atlas Air Worldwide Holdings has ordered four new Boeing 747-8 freighters to enhance its airfreight capabilities, particularly in the growing e-commerce sector. This investment reflects the company's strategic growth plan and commitment to environmental stewardship, as the 747-8F offers 20% higher payload capacity and 16% lower fuel consumption compared to its predecessor. Deliveries are anticipated between May and October 2022. As the largest operator of Boeing 747 freighters globally, Atlas aims to capitalize on increasing demand in the airfreight market.
Atlas Air Worldwide Holdings (Nasdaq: AAWW) successfully completed a transoceanic test flight using sustainable aviation fuel (SAF) on December 21, 2020, from Zaragoza, Spain, to Mexico City. The flight marked a significant milestone as it is believed to be Spain's first commercial cargo flight blending SAF with Jet A-1 fuel. The SAF blend, made from fresh vegetable oil, can reduce carbon emissions by up to 80%. This initiative aligns with Atlas Air's commitment to sustainability and operational efficiency in the air cargo industry.
Atlas Air Worldwide Holdings (Nasdaq: AAWW) announced a US$300 million warehouse financing agreement with CDPQ and BNP Paribas, along with a US$200 million bridge financing agreement with volofin Capital Management. These funds will support Titan Aircraft Investments in acquiring freighter aircraft and converting passenger planes to freighter configurations. The partnership aims to capitalize on the growing demand for airfreight, especially in e-commerce. The joint venture, formed in 2019, aims to build a freighter aircraft leasing portfolio valued at approximately US$1 billion.
Atlas Air Worldwide Holdings (Nasdaq: AAWW) reported strong third-quarter 2020 results with a net income of $74.1 million or $2.78 per diluted share, up from $60.0 million in Q3 2019. Adjusted EBITDA soared to $196.3 million compared to $95.6 million last year. The company increased operations for Amazon and expanded its charter customer base. Despite challenges from COVID-19, Atlas anticipates approximately $850 million in Q4 revenue and an adjusted net income growth of approximately 25%. The full-year 2020 revenue outlook stands at approximately $3.1 billion.
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