Atlas Air Worldwide Holdings, parent of Atlas Air and Polar Air Cargo, reported 2008 net income of $63.7 million, down 51.9% from a $132.4 million profit in 2007, citing "a challenging year for global trade and airfreight," high first-half fuel prices and the "global recession" in the second half of the year. The results were helped by a deferred pre-tax gain of $153.6 million related to DHL purchasing a 49% equity interest in Polar, which started operating as a DHL Express carrier in ...

Subscribe to Access this Entire Article

"Atlas Air Worldwide posts 51.9% 2008 profit drop" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.