Atlas confident, despite questionmarks
09 / 12 / 2010
THE third quarter of 2010 saw a 28 per cent year-on-year revenue rise for Atlas Air, making for a 32 per cent increase in the first nine months of the year. Other good news included the start of a new contract with TNT for one 747-400F at the start of the fourth quarter, and Panalpina adding a second -400F to the one it already wet-leases at the same time.
Atlas has also placed its first three 747-8Fs – on a five-year contract with British Airways – and saw a 26 per cent fall in military charters in the third quarter almost exactly compensated for by a 50 per cent rise in commercial charters.
So far so good, but there are some question marks hanging over the bellwether of the cargo ACMI business – in particular where new growth in that business will come from. Though Atlas now has 19 of its 22 747-400s on wet-lease, that is still slightly down on 2008, when the total was 21, and its customer list looks remarkably static.
For the full story read the latest free digital edition of Air Cargo News, no. 692 dated 13 December, here.