Atlas Air Worldwide Holdings, parent of Atlas Air and Polar Air Cargo, posted third-quarter net income of $5.2 million, down 84% from $32.4 million in the year ago period. It blamed the drop on fuel costs and "soft demand." President and CEO William Flynn noted that Polar becoming a DHL contract carrier last month will lead to "significant earnings improvement" in 2009 by "de-risking our business model." Third-quarter revenue rose 15.6% to $460.7 million while expenses jumped 21.2% to $440.4 ...

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