Atlas Profits
Atlas Air Worlwide Holdings is flying more profitably thanks to its scheduled freighter service but the carrier says it plans to put more of its aircraft into its core ACMI business. emphasis added The parent of Atlas Air and Polar Air Cargo showed a $32.4 million net profit in the third quarter, a four-fold improvement over last year, and revenue grew nearly 10 percent to $395.9 million.
Most of that improvement came in Polar's forwarder-focused scheduled business, as well as a big jump in commercial charters.more added emphasis Revenue from ACMI operations was down nearly 12 percent in the first nine months of the year and makes up only about 22 percent of AAWH's overall revenue.
But Atlas says six 747-400s coming to the carrier through DHL's $150 million investment in Polar will take a role in the ACMI business. WTF, over? Six coming?
"(The 747s) will migrate from the scheduled service platform they are operating in today to a platform that will generate a profit contribution more consistent with our traditional ACMI operations, while mitigating traditional scheduled-service risks such as fuel," said Atlas President and CEO William J. Flynn.
Just so I understand: The big improvement was in Polar's scheduled service, and they are going to move airplanes from this "profit center" to (C - if we get hosed)MI service to get a profit margin more consistent?
