Atlas Lay-offs
From Aviation Week website:
Freight hauler Atlas Air announced plans to lay off 105 crewmembers Friday after the company forecasted weaker international demand than expected. The job cuts amount to 15% of the airline's total payroll for pilots and flight engineers, an airline spokeswoman told AviationNow.com.
Atlas, which offers other airlines leases on 747 freighters that include aircraft, crew, maintenance and insurance, expects to complete the layoffs by May 31, spokeswoman Vicki Foster says. Foster declined to disclose how much the airline expects to save from making the cuts.
Atlas has no plans to reduce its fleet of aircraft, Foster says, but executives are still "taking a look at all options to reduce cost."
Despite reporting posting first quarter revenues, Atlas Air's executives were disappointed by the company international growth.
"Little, if any, flying is occurring in excess of our guaranteed levels, and we have decided to cease flying for one customer as a result of their uncertain financial condition," Atlas Air CEO Richard Shuyler said April 24. "In this environment, it will be a challenge to match last year's results if the current negative economic and market conditions persist."