Court rules in favour of Atlas Air and against union
Atlas Air Worldwide Holdings has succeeded in its legal dispute with the pilot union, ordering them to negotiate a new deal. The decision by the US Court of Appeals for the Second Circuit upholds a 13 March 2018 decision by the Southern District Court of New York compelling the union, the International Brotherhood of Teamsters […]
Atlas Air faces tough questions about Q3 results
Atlas Air Worldwide Holdings faced tough questions about how the business was being run during its third quarter earnings call. Adjusted income from continuing operations net of taxes was down 78.3% in the third quarter to $9.5 million and 64.8% to $41.3 million in the nine months to 30 September. The third quarter performance was […]
Atlas Air extends lease on New York headquarters
Atlas Air Worldwide Holdings has renewed and extended the lease on its Purchase, New York corporate headquarters. The plans include creating 100 additional jobs and enhancing the offices to accommodate its growing employee base and business growth. Purchase has been its headquarters since 2000 and Atlas Air employs 568 employees in New York. Eric Gertler, […]
Atlas Air pilots ordered to negotiate new agreement
Atlas Air pilots have been ordered to negotiate for a joint collective bargaining agreement (JCBA) following an arbitration decision on Monday 26 August. The collective bargaining agreement (CBA) applies to Atlas Air’s acquisition of Southern Air, and Atlas says it confirms their position that the union, Airline Professionals Association – Teamsters Local 1224 violated the […]
Atlas Air chairman Robert Agnew passes away
Robert Agnew, chairman of the board of directors for Atlas Air Worldwide Holdings passed away early last week. Board member since July 2004 and chairman of the board since 2017, Agnew served on the nominating and governance committee, and previously was the chair of the audit committee. The aviation leader was also president and chief […]
Tariffs and trade concerns hit Atlas Air results
Revenue and earnings were below expectations for Atlas Air Worldwide, with management citing tariffs and trade concerns as reasons for the slowdown. Net income in the first half of 2019 was $57.1 million compared to a loss of $11.5 million in 2018, which had been caused by unrealised losses on outstanding warrants of $50 million. […]
Atlas Air to open Kentucky global operations centre
Atlas Air Worldwide Holdings will expand operations in Kentucky with the opening of a global operations centre in Erlanger. The facility is located near Cincinnati/Northern Kentucky International Airport and having secured a long-term lease, it is expected to open in 2021. Atlas Air employs 318 professionals, including 182 Kentuckians at facilities in northern Kentucky including […]
Atlas Air pilots ordered to stop “illegal” slowdown
Atlas Air Worldwide pilots represented by the International Brotherhood of Teamsters have been ordered to stop their work slowdown by the Court of Appeals. The International Brotherhood of Teamsters, International Brotherhood of Teamsters Airline Division and Local Union No 1224 have been ordered to stop an “intentional and illegal work slowdown” by Atlas Air pilots […]
Dietrich to succeed Flynn as Atlas Air CEO
Leadership will be changing at Atlas Air next year, with William Flynn becoming chairman of the board and John Dietrich filling the role of CEO. After 13 years, Flynn will retire on 1 January 2020 and become chairman of the board, while executive vice president and chief operating officer Dietrich will become president and COO […]
Southern Air claims arbitration victory over pilots
Atlas Air Worldwide Holdings has claimed victory over unions after Southern Air pilots were ordered to negotiate a new joint collective bargaining agreement, much to the anger of the pilots. On 12 June, Southern Air pilots represented by the Airline Professionals Association, Teamsters Local 1224 were ordered to proceed with the negotiations relating to the […]
First quarter exceeds expectations for Atlas Air
First quarter results exceeded expectations for Atlas Air with adjusted income rising by $3.5 million to $27.3 million. The adjusted results exclude the impact of warrant accounting, with unrealised losses totalling $46.6 million, pushing reported first quarter losses to $29.7 million. Volumes in the first quarter increased 19% to 77,061 block hours, and revenue grew […]
Pilots union rains on Atlas Air’s parade
The Teamsters Union, which represents Atlas Air and Southern Air pilots who fly for DHL and Amazon Air, is warning investors not to believe the positive spin put out by the parent company in its latest financial results. In an open letter to investors, it says that many pilots are leaving the employment of Atlas […]
Atlas Air expands 747-400F services for NCA
Atlas Air has expanded its strategic agreement with Nippon Cargo Airlines to add three NCA-owned Boeing 747-400 Freighters to the existing operation. The incremental aircraft will be operated on key routes across the transpacific market, and are scheduled to enter service in April, July and September 2019, bringing the total number of 747-400Fs operated on […]
Atlas Air delivers 20th 767-300 to Amazon
Atlas Air has delivered its 20th Boeing 767-300 converted freighter to Amazon, with N1487A arriving in time for the peak season. Under long-term commercial agreements announced in 2016, Atlas Air operates the aircraft for Amazon on a CMI (crew, maintenance and insurance) basis and Titan Aviation dry leases the aircraft to Amazon. Atlas Air Worldwide […]
$71m profit for Atlas Air, pilots say issues remain
Atlas Air Worldwide has posted a third quarter profits of $71.1 million but pilot unions are warning the public not to be fooled by executives painting a rosy picture. The third quarter profit compares to a loss of $24.1 million in the same period last year, while net income for the first nine months of […]
ALTA welcomes Atlas Air as newest member
Atlas Air Worldwide Holdings has joined the Latin American and Caribbean Air Transport Association (ALTA), making it the fourth airline to join ALTA in 2018. The airline owns the world’s largest fleet of Boeing 747 Freighters and provides customers with Boeing 737s, 747s, 757s, 767s and 777s for domestic, regional and international cargo and passenger […]
Atlas Air to operate Boeing 747-400F for SF Express
Atlas Air will operate a Boeing 747-400 Freighter for SF Express, entering service in October 2018. The aircraft will operate on key global routes across the transpacific market connecting China and the US. Atlas Air Worldwide president and chief executive officer, William Flynn says: “We are delighted to welcome SF Express as a strategic customer […]
Atlas Air to operate second B747-400F for Asiana Cargo
Atlas Air has entered into an agreement with Asiana Cargo to add a second Boeing 747-400 Freighter for the South Korean airline. The aircraft will be operated by Atlas Air and be flown on key global routes across the fast growing transpacific market, connecting South Korea with several destinations in the US. The aircraft is […]
Atlas Air remains upbeat despite second quarter loss
Atlas Air Worldwide is remaining positive in the second quarter despite reporting a loss of $21.1 million. The reported loss from continuing operations net of tax included an unrealised loss on outstanding warrants of $50 million as well as a special charge of $9.4 million related to engines held for sale. For the first six […]
Atlas Air losses increase in Q3 despite volume and revenue growth
Atlas Air Worldwide has seen losses increase to $24.1 million in the third quarter despite significant growth in revenue and volumes. The losses are up from $7.9 million in the same period of 2016, though revenue rose from $448 million in 2016 to $535.7 million this year. Year to date profits were up from $13 […]
Second quarter profits double at Atlas Air
Second quarter profits at Atlas Air have almost doubled to $38.9 million with all business segments seeing strong growth. Net income for the period is up from $20.5 million in 2016 and net income for the first half is up from $21 million in 2016 to $38.2 million this year, while total operating revenue rose […]
Atlas Air signs ACMI deal with Cathay Pacific for two 747-8Fs
Atlas Air is to place two Boeing 747-8 Freighters into ACMI service for Cathay Pacific Cargo. The aircraft will be operated by Atlas Air and will fly on behalf of Cathay Pacific Cargo through aircraft, crew, maintenance and insurance (ACMI) agreements. The 747-8F service is scheduled to begin in May, and will supplement capacity Cathay […]
Atlas Air pens deal with Boeing to convert 767s into freighters
Atlas Air has come to an agreement with Boeing to convert nine 767 passenger aircraft into Boeing Converted Freighters (BCF). Four were previously announced at the Farnborough International Airshow in July, attributed to an unidentified customer. Boeing predicts in its current market outlook forecast that 400 widebody conversions will be needed over the next two decades, with […]
First Atlas Air provided Amazon freighter due in the next quarter
Atlas Air is hoping to provide online retailer, Amazon with its first aircraft in the next quarter as it announced its first half profits fell to $21 million due to acquisitions and investments. The aircraft outsourcer signed a deal with Amazon earlier this year to provide 20 Boeing 767-300s by the end of 2018 and […]
Atlas Air completes $110m acquisition of Southern Air
Atlas Air Worldwide has completed the acquisition of Southern Air Holdings in a deal worth about $110 million. The deal will give Atlas access to Southern’s fleet of crew, maintenance and insurance Boeing 737s and Boeing 777s. The five Southern 737s and five 777s will compliment Atlas’ fleet of more than 75 aircraft, which are […]
Price fixing litigation causes Atlas Air profits to plummet
Atlas Air has seen its net income for 2015 fall to $7.3 million, with losses in the fourth quarter, which it says, “primarily reflect previously disclosed litigation settlement”. Net income for the year fell from $106.7 million in 2014 to $7.3 million, and in the fourth quarter Atlas made a loss of $37.6 million compared […]
