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 ...

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