Record income of Atlas Air exceeded 1 billion USD. Part 1
Atlas Air Worldwide Holdings informed high results received for the third quarter 2021. The main reason the company names increased demand on all-freight service and difficulties of overland transport. According to the data of the head company of cargo and charter carriers – Purchase, companies Polar Air, Atlas Air and Southern Air in the report from November 3rd showed quarter income in amount of 1.02 billion USD. Net profit of the company for the quarter made 119.5 million USD as compared to 74.1 million USD for the same period of 2020.
Atlas Air Worldwide CEO John W. Dietrich marked: “This is special moment for our company we just closed the best quarter in our history and expect that the next quarter will be even better. Our strategic commitment to express delivery, electronic commerce and booming world markets stimulates stable demand on our services and provides high financial results.” According to the carrier, cargo and charter operator has clocked up 90.4 thousand block-hours during three months period that ended on September 30th. Just to compare during the entire third quarter 2020 flight hours made about 90.5 block-hours. “World volumes of air transport still exceed before pandemic levels while productive facilities of the industry fail to keep pace with the demand. Narrow spaces in the supply chain, including communication problems in the ocean ports all over the world cause increase of the inquiries for air transport as manufacturers, retailers and shippers strive to turn over the stock level specially before the season of holiday purchases”. With this regard cargo operator expects that the income in the fourth quarter will increse1 billion USD again and net profit will increase more than by 20% as compared to the same quarter 2020.