Atlas Air Worldwide Holdings

Atlas Air Worldwide Holdings, reports strong results for the quarter ended June 30, 2006

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Atlas Air Worldwide Holdings, a provider of global air cargo services, has reported strong results for the quarter ended June 30, 2006.

Last month, the company reported net income of US$10.7 million on revenues of $366.4 million for the quarter ended June 30, 2006. Results for the quarter included operating income of $30.6 million and pretax income of $17.5 million.

For the three months ended June 30, 2005, AAWW reported net income of $15.9 million on revenues of $395.2 million. Operating income in the second quarter of 2005 totalled $43.8 million with pretax income of $26.9 million.

William J. Flynn, AAWW president and chief executive officer, said: “Results for the second quarter reflected solid operating performance. We benefited from improved unit pricing metrics in our major business segments and from a substantial reduction in our maintenance expenditures, where we expect to see continued improvement over the balance of the year. The current quarter also experienced reduced flying by 747 Classic aircraft."

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