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Atlas Air Worldwide (Nasdaq: AAWW) will announce its third quarter results for the period ending September 30, 2020, before the stock market opens on November 5, 2020. A conference call will be held at 11:00 A.M. ET on the same day, featuring CEO John W. Dietrich and CFO Spencer Schwartz. Interested listeners can access the live call via the Investor site or through an alternative link. A replay will be available until November 12.
Cainiao Smart Logistics Network, the logistics arm of Alibaba, announced a partnership with Atlas Air Worldwide Holdings (AAWW) to enhance cross-border logistics between China and South America. Starting November, dedicated charter flights will link China with Brazil and Chile, reducing delivery times to three days. In Q3 2020, Cainiao transported over eight million parcels to South America, doubling Q2 volumes. This partnership aims to streamline logistics for Alibaba's merchants and improve overall supply chain efficiency.
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) announced the extension of its pilot and flight engineer training contract for Air Force One, originally held since October 2007. The U.S. Air Force will continue to utilize Atlas Air's Miami training center for ground and flight-simulator training of crews for the VC-25 aircraft. CEO John Dietrich emphasized the importance and safety of this contract, reflecting the company's commitment to efficient operations. Atlas Air is recognized for operating the largest fleet of Boeing 747 Freighters globally, serving a range of cargo and passenger needs.
Atlas Air Worldwide reported strong second-quarter 2020 results, achieving a net income of $78.9 million or $3.01 per diluted share. This represents a decrease from $86.9 million or $1.61 in Q2 2019. Adjusted EBITDA surged to $247.0 million compared to $84.1 million a year earlier, indicating robust performance from commercial charter and ACMI services. The company anticipates full-year revenue exceeding $3 billion and adjusted EBITDA around $750 million, with significant growth expected in the second half of 2020.
Atlas Air Worldwide Holdings (Nasdaq: AAWW) is set to release its Q2 2020 financial results on August 6, 2020, before market opening. The company's President and CEO, John W. Dietrich, along with CFO Spencer Schwartz, will conduct a conference call at 11:00 a.m. ET to discuss the results. Interested stakeholders can join the live call via the Investor site. A replay will be accessible until August 14.
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) announced the appointment of Lillian A. Dukes as Senior Vice President of Technical Operations. In this role, she will oversee maintenance and engineering activities, ensuring safety and airworthiness standards for the aircraft fleet. Dukes brings over 25 years of experience in aviation, having previously held leadership positions at major companies like American Airlines and General Electric. This appointment follows the transition of Larry Gibbons into an advisory role after 24 years of service.
Atlas Air Worldwide Holdings (Nasdaq: AAWW) has announced a 10% interim pay increase for its pilots, effective May 1, 2020. This decision follows negotiations with the International Brotherhood of Teamsters (IBT) Locals 2750 and 1224. CEO John W. Dietrich emphasized the company's appreciation for the pilots' hard work during the pandemic and noted ongoing efforts to finalize a joint collective bargaining agreement related to the merger of Atlas Air and Southern Air. The company operates a significant fleet of aircraft, serving both cargo and passenger operations globally.
Atlas Air Worldwide reported a strong first-quarter 2020 performance, achieving a net income of $23.4 million or $0.90 per diluted share, a turnaround from a net loss of $29.7 million in Q1 2019. Adjusted EBITDA reached $121.2 million, up from $120.4 million the previous year. The company expects significant growth in Q2 2020, forecasting revenue of approximately $770 million and an adjusted net income rise of 40% to 50%. Demand for airfreight is expected to remain strong amid the COVID-19 pandemic, prompting the reactivation of idle aircraft.
