Atlas Air Worldwide swings to first-quarter profit on record

[Covert53]

"Real World PAC/GTI news I saw on Air Transport World news today. Link here: http://www.atwonline.com/news/story.html?storyID=8827

Tuesday May 8, 2007 Atlas Air and Polar Air Cargo parent Atlas Air Worldwide Holdings reported first-quarter net income of $6.2 million, reversed from a net loss of $3.7 million in the year-ago quarter, on a 6.1% rise in revenue to $353.6 million, the highest total it has ever generated in a first quarter. President and CEO William Flynn called the results "excellent," adding: "Our active asset management and continuous improvement initiatives are yielding measurable gains in our margins and operating efficiency and enhancing our earnings." The company said its CI program contributed more than $12 million in cost savings during the quarter, including gains achieved through outsourcing, reduced fuel consumption and improved parts management. "With this momentum, we maximized returns on our assets and achieved robust results during a traditionally slow period of the year in air cargo demand, as well as a quarter with some sluggishness in key trade lanes," he said. Expenses increased 3.4% to $336.1 million and operating income totaled $17.5 million, more than double the $7.1 million achieved in the year-ago period. Scheduled service traffic grew 5.7% to 335.1 million RTMs on a 4.5% lift in capacity to 523.1 million ATMs, producing a load factor of 64.1%, up 0.8 point. Scheduled service yield decreased 7.4% to 37.6 cents as RATM fell 6.3% to 24.1 cents. AAWW attributed the drop to "the impact of an increase in competitive capacity serving the transpacific market and moderation of demand for shipments from China, Hong Kong, Korea and Japan." Scheduled service and commercial charter fuel gallons consumed lowered 1.8% to 32.8 million as the average cost per gallon dropped 6.3% to $1.92. AAWW's average fleet size during the quarter was 32.7 aircraft, down 16.2% from the year-ago quarter, while average utilization of operating aircraft increased 18.7% to 10.7 block hr. daily.

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[yoni63]

Would that mean that their swingers?