News
Atlas Air posts 35.7% lift in second quarter net profit
August 6th 2021
Atlas Air CEO, John Dietrich, said overnight he believed economic and supply chain conditions remained favourable for air cargo as the company reported a net profit of US$107.1 million for the three months to June 30, up 35.7%. Read More » The results compared with a net profit of US$78.9 million in the same quarter in 2020. Revenue increased 20%, to US$990.4 million, Atlas Air reported to the U.S. Securities and Exchange Commission. “Our strong performance continued in the second quarter, with revenue and earnings exceeding our already high expectations," Dietrich said. “Our performance continued to benefit from operating the four 747 freighters and one 777 freighter we reintroduced to our fleet throughout 2020. This capacity, along with a tremendous team effort, contributed to our ability to enter into and extend long-term agreements with strategic customers as well as capitalise on lucrative short-term opportunities in the strong global air freight market." Dietrich said air freight volumes remained above pre-pandemic levels. Atlas Air is forecasting revenue of US$1 billion in the third quarter of this year, with net profit tipped to be 50% above the US$82.7 million posted in the same quarter in 2020.
