North American main-deck providers post excellent results
Atlas Air Worldwide Holdings, which has the highest number of Boeing B747s in its fleet (53 units, 44 of which are freighters), has posted a net income of USD 78.9 million in Q2, (USD 86.9 million in Q2/2019). Its adjusted ebitda came to USD 247 million (USD 84.1 million in 2019), and its adjusted net income to USD 123.2 million (USD 4.5 million in 2019).
The Air Transport Services Group announced a 74% increase in its adjusted earnings from continuing operations in Q2, bringing the figure to USD 32.5 million. Its adjusted ebitda increased by 20% to USD 125.6 million. Key growth drivers included greater contributions from its airlines, and more leased-out Boeing B767Fs, especially to Amazon.
Canadas's Cargojet, in turn, generated revenues of USD 147.7 million in the quarter (USD 89.7 million), in Q2, fuelled by rising e-commerce volumes, amongst other things. It reported a gross margin of USD 68.3 million (USD 20 million in Q2/2019) and an adjusted ebitda of USD 68.6 million (USD 28.3 million in 2019). (ah)
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