Atlas income drops by US$20 million

HIGHER maintenance and fuel costs have reduced Atlas Air Worldwide Holdings first-quarter profit to US$10.5 million against $33.8 million for the same period in 2010.

While fuel expenses have shot up 15 per cent to $74.2 million, maintenance costs were higher, but only against lower than average costs in the same period last year.

Revenue reached $297.6 million, up from $295.2 million a year ago.