Atlas Air Worldwide Holdings,parent of ACMI cargo carriers Atlas Air and Polar Air Cargo, last week posted first-quarter net income of $10.5 million, down 68.9% from a $33.8 million profit in the year-ago quarter. ATW's2011 Phoenix Award winner (ATW, Feb. 1) noted in a statement that "the market was unable to quickly and fully absorb the dramatic rise in aviation fuel prices that began midway through the quarter." It also said its military charter business suffered, with ...

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