Atlas Air Worldwide posts $11.3 million profit despite weak cargo market

Atlas Air Worldwide Holdings, parent of Atlas Air and Polar Air Cargo, reported second-quarter net income of $11.3 million, a more-than-sevenfold increase over a $1.5 million profit in the year-ago period, as it continued to benefit from Polar becoming a DHL Express carrier and its cost-cutting initiatives. President and CEO William Flynn noted to analysts that the strong result was achieved despite "a difficult demand environment" in which worldwide air cargo traffic dropped by around 18%. ...