Purchase, New York-based air cargo operator Atlas Air Worldwide Holdings reported a first-quarter net profit of $471,000, down significantly from net income of $29.2 million in the prior-year period, as revenue fell 5.9% year-over-year to $418.6 million. Atlas Air Worldwide executives downplayed the significance of the year-over-year profit decline, citing non-recurring benefits in the 2015 March quarter and non-recurring charges in the 2016 first quarter, and emphasized in a presentation ...

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