Atlas Air Worldwide posts $41.5 million 2016
#1
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.""""""
""""""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.""""""
#2
Gets Weekends Off
Joined APC: Jun 2006
Position: C-172 FO
Posts: 468
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.
PLUS they also said they don't predict a change in employee expenses this year... Swallow that pill.
#3
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.
#4
Gets Weekends Off
Joined APC: Jun 2006
Position: C-172 FO
Posts: 468
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.
#5
Banned
Joined APC: Dec 2014
Posts: 532
Bill and Spencer specifically said no pilot contract in 2017 at the very end of the conference call.
#9
Gets Weekends Off
Joined APC: Sep 2013
Posts: 159
Dutch, listen to the earnings call...right at the end...
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