Atlas Air Worldwide Holdings—parent company of Atlas Air, Polar Air Cargo, Southern Air and Titan Aviation—reported a second-quarter 2017 net profit of $38.9 million, up 88.8% over net income of $20.6 million in the 2016 June quarter.

Purchase, New York-based Atlas credited increased flying with helping to boost its 2Q revenue 16.7% year-over-year (YOY) to $517.4 million. The company said it is focused on growing its presence in Asia and ramping up its wet-lease flying for Amazon. It added Cathay Pacific and Yangtze River Airlines as customers in the second quarter and announced Aug. 2 that it had inked a wet-lease agreement to operate three Boeing 747-400Fs for Hong Kong Air Cargo, the first of which is expected to start flying in September.

“We have a strategic focus on the fast-growing Chinese and Asian markets, and we have added five new customers there this year,” Atlas president and CEO William Flynn said.

The company started operating its fifth and sixth 767-300Fs dedicated to Amazon in June and plans to have 20 767-300Fs operating for Amazon by the end of 2018. Flynn said Atlas is moving “more deeply into the faster-growing express and e-commerce markets,” adding, “More than 70% of our current freighters operate for customers in these markets, and that percentage will increase as we ramp up from six aircraft for Amazon currently to an expected 20 by the end of 2018. The evolution of e-commerce is transforming the global supply chain and creating significant new opportunities for Atlas.”

Atlas reported 2Q expenses of $458.9 million, up 8.6% YOY, and operating income of $58.5 million, nearly triple operating income of $20.8 million in the 2016 June quarter. Total 2Q block hours flown rose 15% YOY to 61,288.

Aaron Karp aaron.karp@penton.com