I don't think so...Jade's at least 1/2 owned by Lufthansa; not sure how much ACMI they do.

Overall though, air cargo is down quite a bit over the last year - especially last quarter, so it's not just Atlas. People have quit buying stuff made in China and SE Asia; what they are buying is going by ship except for food/flowers, which generally don't come from Asia (hence Arrow's growth).

My $.05

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