Atlas Air Worldwide posts $41.5 million 2016
 

As predicted,





""""""Atlas Air Worldwide Holdings earned a 2016 net profit of $41.5 million, a nearly six-times increase over net income of $7.3 million in 2015, though the 2015 results are skewed by one-time charges related to settling class-action litigation.

The Purchase-New York based air cargo operator’s annual revenue was essentially flat in 2016 at $1.8 billion. But president and CEO Bill Flynn called 2016 “historic” for Atlas, which acquired Southern Air for $110 million and entered into a wet-lease contract with Amazon during the year.

“We acquired Southern Air, expanding the array of aircraft and services that we provide, especially to the fast-growing express market,” he said. “We entered into strategic, long-term agreements with Amazon to serve its rapidly growing e-commerce business … With our expanding business base and the ongoing development of our strategic platform, we are well-positioned to grow earnings [in 2017].”

Atlas Air Worldwide’s 2016 expenses dipped slightly year-over-year to $1.6 billion and operating income was $168.3 million, up 36.3% over an operating profit of $123.5 million in 2015.

Total block hours flown rose 18.2% year-over-year in 2016 to 210,444.""""""

They also said they are predicting a 20% growth in business this year, 75% ACMI and the rest charter.

PLUS they also said they don't predict a change in employee expenses this year... Swallow that pill.

Believable, turnover for people going to the majors etc is at an all time high. I don't agree with the litigation against the union, but it will obviously stagnate pay with a pause in negotiations. Im sure it will be higher than predicted just not drastically.

Regretfully I was wrong, nothing in the final earning statement for 2016 says that employee expenses will remain the same or anything abou employee expenses. I saw it written by another crew member and thought it was true. My mistake.

Bill and Spencer specifically said no pilot contract in 2017 at the very end of the conference call.

Lots of slow taxiing behind Atlas in CVG! And no I won't go around them.

That'll show them.

Not my call but I'll honor it.

Dutch, listen to the earnings call...right at the end...

Yep, did listen to it. My original post was correct...