Atlas Air Worldwide Holdings (AAWW) reported third-quarter net income of US$71.1 million, up from a net loss of $24.2 million for Q3 of 2017, and expects a strong performance for the fourth quarter on expectations of a record peak season. Operating income was up by 3.3 percent, year-over-year, during Q3, to $54.5 million, while total operating revenues increased by 22.6 percent to $656.6 million.
Regarding the “trade war” between the United States and China, Atlas’ CEO, Bill Flynn, said that “neither we nor our customers have seen a material impact on air freight demand.” Flynn suggested, however, that the tariff issue may prompt China-based manufacturers to shift factories to neighboring countries, and said he expects airfreight demand growth to remain at roughly the 4 percent annual rate projected by IATA.
For much more detailed coverage of AAWW’s Q3 results, please see the segment-by-segment commentary below by Caryn Livingston, Deputy Editor of our sister publication, Cargo Facts:
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