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Air freight carrier Atlas Air says global demand for air cargo still outpacing capacity
May 6th 2021
Atlas Air Worldwide CEO, John Dietrich, said overnight he expected air freight demand and yields to remain strong, with capacity on long-haul trade lines to remain tight in the period ahead as global demand for air freight outpaced air cargo transport supply. Read More » The cargo operator reported a net profit of US$89.9 million for the three months to March 31, 2021, up 285% from US$23.4 million 12 months ago. Operating revenue rose 33.8%, to US$861.3 million, Atlas Air said in a regulatory filing. “We are off to a very good start in 2021 and are seeing continued business momentum in the second quarter," Dietrich said. "We are closely monitoring the market and leveraging the diversity of our business model." The cargo carrier is forecasting revenue of US$950 million for the three months to June 30 with adjusted net profit tipped to be up 30%, from US$72.2 million, in the first quarter. No full-year earnings guidance was provided.
