Atlas Air’s net income drops to $21million in Q2

ATLAS AIR’S net income plummeted by a third from US$31.2 million in the second quarter of 2012 to $21million in the second quarter of this year.
Quarterly revenue for the USA-based cargo and passenger charter airline was $403.6 million in total, down from $424.7 million in the same quarter last year.
However, of that total, revenue from the aircraft, crew, maintenance and insurance (ACMI) division, which provides outsourced cargo aircraft, was $182.0 million in the second quarter – an increase of 13.4 per cent year-over-year from $160.4 million.
“Earnings [in this sector] in the second quarter of 2013 were driven by the strength of our ACMI operations, especially our new B747-8 freighters,” reveals William J Flynn, president and chief executive.
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