All Atlas Air Worldwide Articles – Page 2
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News
Atlas Air promotes Gonopolskiy
Atlas Air Worldwide has appointed Artem Gonopolskiy as executive vice president and chief financial officer, effective December 1.Gonopolskiy has been with Atlas for more than 18 years, and has served as the interim chief financial officer of the company since June 15.Gonopolskiy will lead all aspects of the company’s finance ...
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Ex Polar Air Cargo executive pleads guilty to fraud
Former Polar Air Cargo executive Robert Schirmer has pleaded guilty for his part in allegedly defrauding the cargo carrier out of millions of dollars.Robert Schirmer was one of 10 people charged earlier this year with defrauding the Atlas Air Worldwide/DHL subsidiary of tens of millions of dollars in revenue, said ...
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Ex-Etihad Cargo boss Drew scoops Atlas Air role
Ex-Etihad Cargo boss Martin Drew has been appointed as Atlas Air Worldwide chief strategy and transformation officer.Drew started in his new role this week and will lead the company’s corporate strategy, including its transformational growth initiatives.As part of this role, he will drive strategic growth and diversification across Atlas’ services, ...
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New chief executive for Atlas Air Worldwide
Atlas Air Worldwide has appointed executive vice president and chief commercial officer Michael Steen as chief executive from June 15.He succeeds John Dietrich, who is retiring from the company after nearly 25 years.Steen has more than 30 years of experience in aviation and logistics, including 16 years of executive leadership ...
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Kuehne+Nagel and Atlas Air team up on Sustainable Engine Alliance
Kuehne+Nagel, Atlas Air and SR Technics Group have formed the Sustainable Engine Alliance which aims to reduce the environmental impact of aircraft engine supply chains.The alliance said that it would deploy sustainable fuels, engine stand management solutions and a global digital interface for emission transparency, reduction and avoidance.The initiative is ...
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Investor group completes Atlas Air acquisition
An investor group led by Apollo Global Management has completed the acquisition of freighter operator Atlas Air Worldwide Holdings.The deal was first announced in August last year with an equity value of around £3bn, although FlightGlobal reports the final deal had a value of around $2.9bn. The completion of the ...
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Atlas Air expects takeover to complete in days
The takeover of freighter operator Atlas Air Worldwide Holdings is expected to complete in the coming days after the company gained the necessary approvals.In a stock exchange filing, the New York-headquartered firm said that as of March 14 "all regulatory conditions to closing set forth in the merger agreement were ...
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Atlas Air takeover moves ahead after shareholders' approval
The takeover of Atlas Air Worldwide Holdings took a step forward yesterday when the firm's shareholders voted to approve the deal.More than 99% of the shareholder votes cast were in favor of the adoption of the agreement, which represented approximately 80.9% of the outstanding shares of company's common stock.The final ...
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Atlas Air sees profits and volumes slide due to Covid cases and hurricane Ian
Atlas Air Worldwide Holdings saw its profits and volumes decline in the third quarter of the year due to a rise in Covid cases and the impact of Hurricane Ian.The lessor said its revenues for the quarter increased by 10.7% year on year to $1.1bn, while operating profits declined by ...
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Atlas Air takes delivery of another B747F
Atlas Air has continued to expand its fleet of widebody freighters through the addition of its latest B747-8 aircraft - one of the last iconic 'jumbo jets' that will be built.The aircraft is the second of four new B747-8 freighters ordered by Atlas Air in 2021. These are the last ...
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Atlas Air sees profits slide in Q2 as costs rise
Atlas Air Worldwide, which yesterday announced it is being acquired in a $3bn deal, saw volumes and profits take a hit in the second quarter while revenues improved.The company saw revenue grow to $1.2bn in the second quarter of 2022, compared with $990m last year, volumes totaled 83,922 block hours, ...
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Atlas Air Worldwide to be acquired in $3bn takeover
Freighter firm Atlas Air Worldwide has entered into a definitive agreement to be acquired by an investor group in an all-cash transaction with an enterprise valuation of approximately $5.2bn.The takeover is led by funds managed by affiliates of Apollo, affiliates of JF Lehman & Company, and Hill City Capital.Under the ...
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Reports: Apollo group in talks over Atlas Air takeover bid
A group led by investment firm Apollo Global Managment is in talks to purchase airfreight group Atlas Air Worldwide Holdings, according to Reuters.The newswire quotes a person familiar with the matter as saying that talks are at an advance stage, although no details of whether a deal had been reached ...
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Atlas Air revenues improve despite volume decline
Atlas Air Worldwide reported improvements in revenues during the first quarter of the year despite a decline in volumes.The freighter lessor and operator saw first-quarter revenues increase by 20% on last year to $1bn, adjusted earnings before interest, tax, depreciation, amortisation (ebitda) increased 11.9% to $202,814 but net income dropped ...
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Record 2021 results for Atlas Air Worldwide
Atlas Air Worldwide Holdings saw record results in 2021 with increased revenue and income, while also placing all of its incoming B747-8Fs under long-term agreements.The US-based freighter lessor expects a “strong performance” in the first quarter of 2022, helped by new or enhanced long-term customer contracts.Atlas saw 2021 revenues of ...
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NewsCargo airlines urge US to swerve 5G "economic calamity”
Photo: PixabayCargo airlines are amongst the signatories of a letter urging immediate action on 5G plans in the US to “avoid significant operational disruption” in the supply chain.The letter, sent by trade association Airlines for America to stakeholders in government bodies, is signed by 11 companies including Atlas Air Worldwide, ...
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NewsAtlas Air orders Boeing 777 freighters
Atlas Air Worldwide Holdings, Inc. has ordered four new Boeing 777 freighters, with the first due for delivery in November.The company, which reached a quarterly revenue record of $1bn in the third quarter of 2021, said the order of the 777-200LRFs is in response to strong customer demand for dedicated ...
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Atlas Air quarterly revenues breach $1bn mark
Atlas Air Worldwide has seen its revenues breach the $1bn mark for the first time in the company's history.During the third quarter, the lessor saw its revenues increase by 25.5% year on year to just over $1bn, while adjusted ebitda climbed 42.9% on last year to $280.5m and net income ...
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Atlas Air pilots hit out at new five-year contract
Atlas Air pilots have criticised the new five-year collective bargaining agreement (CBA) announced earlier this week saying it makes the airline a place to train, not for a career.The new contract will merge the pilots of Atlas Air and Southern Air, which was by Atlas acquired in 2016, onto a ...
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Titan Aviation Holdings appoints SVP and CCO
Titan Aviation Holdings, a subsidiary of Atlas Air Worldwide Holdings, has appointed Eamonn Forbes into the role of senior vice president (SVP) and chief commercial officer (CCO) of Titan Asset Management Ireland Limited.Forbes joins Titan with more than 15 years of aviation leasing, legal and finance experience. Most recently, he ...
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