ATLAS 3Q EARNINGS TAKE HIT FROM TARIFFS AND TRADE TENSIONS

摘要

While total block hours for the quarter were up 7.7% year-over-year, Atlas Air Worldwide Holdings reported an operating loss of $0.88 million for the third quarter of 2019, a 102% drop year-on-year. Adjusted net income was $9.5 million, 78% lower than 3Q 2018. Block-hour growth was mainly driven by CMI flying. During the third quarter of 2019, Atlas Air’s Southern Air subsidiary began flying a fourth 737-800BCF on a CMI basis for Amazon, with another to be added by year-end. Atlas also began operating a fourth 747-400F for Nippon Cargo Airlines (NCA) and expects to fly the remaining one in 2020. But all this was offset by lower levels of ACMI flying because of the imposition of tariffs and trade tensions. What the company did not mention, however, is that Amazon in September reassigned a 767-300BDSF (30109) previously operated by Atlas to Air Transport Services Group (ATSG) affiliate Air Transport International (ATI). Another 767-300BDSF (28495) is also due to be transferred to ATI. Atlas told Cargo Facts that its Titan Aviation Holdings subsidiary would continue to lease nineteen converted 767-300Fs to Amazon.