Atlas Air Worldwide revenue and earnings exceed expectations in second-quarter 2020

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Atlas Air Worldwide has reported second-quarter 2020 net income of US$78.9 million compared with net income of US$86.9 million in the second quarter of 2019.

On an adjusted basis, EBITDA totaled US$247.0 million in the second quarter this year compared with US$84.1 million in the second quarter of 2019. Adjusted net income in the second quarter of 2020 totaled US$123.2 million compared with US$4.5 million in the second quarter of 2019.

“Revenue and earnings in the second quarter continued to exceed our expectations,” said Chief Executive Officer John W. Dietrich. “These positive results were primarily driven by the team capitalizing on strong demand and higher yields in our commercial charter and South America businesses. We also continued to provide the U.S. military with essential services and our ACMI customers flew well above their minimum guarantees.”

“To serve the increased demand, we reactivated three of our 747-400 converted freighters and operationalized a 777 freighter from our Dry Leasing business. This enabled us to serve the strong and profitable shorter-term demand, while also entering into numerous new long-term charter programs at attractive yields. We expanded our long-term charter business to include new agreements with manufacturers such as HP, and large freight forwarders like DHL Global Forwarding, APEX Logistics, DB Schenker, Flexport and Geodis, all that wanted to secure committed capacity from us.”

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