Atlas Air Worldwide cuts capacity
Atlas Air Worldwide's volumes in 2019 totalled 321,140 block hours compared with 296,264 in 2018, with operating revenue increasing to USD 2.74 billion (USD 2.68 billion) and the adjusted ebitda totalling USD 504.8 million (USD 551.3 million). Adjusted net income from continuing operations totalled USD 139.6 million (USD 204.3 million).
Looking ahead, subject to coronavirus developments, Atlas Air Worldwide expects 2020 adjusted ebitda to grow by a mid-teens percentage and adjusted net income by a high -30% to low -40% level.
The absence in 2020 of return conditions income that were realised in 2019 reflects the parking of four less-efficient B747-400 converted freighters since the beginning of 2020. Atlas Air also has sold a B757F and plans to sell a B777F and to return one B747-400F to its lessor. (ah)