Atlas Air Reports Third-Quarter Income of $29.9 Million

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lobal air cargo company Atlas Air Worldwide Holdings Thursday reported it earned $29.9 million or $1.44 per share for the third quarter, on revenue of $404.9 million.

Atlas emerged from Chapter 11 bankruptcy proceedings in July 2004 and the company said in a statement that its financial statements since then are not comparable with those before its bankruptcy.

“Our strong performance, despite a short-term labor action, benefited from the relatively full utilization of our aircraft, the continued optimization of available capacity,” and higher unit revenues, Jeffrey Erickson, Atlas’ president, said in a statement.

For the nine months ended Sept. 30, the company reported net income of $46.4 million or $2.25 per share, on revenue of $1.1 billion.