Atlas sees revenues grow on increasing demand

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Atlas Air Worldwide Holdings (AAWW) saw adjusted profits increase in the first quarter of the year as a result of increasing customer demand.

The aircraft lessor and operator reported first-quarter operating revenues of $680m, while adjusted income for the period was up 14.7% to $27.3m and adjusted earnings before interest, tax, depreciation and amortisation improved by 29.1% to $121.1m.

On a non-adjusted basis the company reported a loss of $29.7m as a result of an unrealised loss on outstanding warrants of $46.6m.

Volumes in the first quarter of 2019 increased 16% to 77,061 block hours.

Increased ACMI segment revenue in the first quarter of 2019 primarily reflected an increase in flying partially offset by a slight decline in average rate per block hour.

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