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By Annie Palmer, CNBC • Updated on March 8, 2021 at 4:20 pm Katie Schoolov Air Transport Services Group said in an SEC filing Monday that Amazon exercised warrants in the company that will give it a minority stake in the cargo airline. Amazon owns warrants in both of its primary air freight partners, ATSG and rival Atlas Air. It comes as Amazon continues to grow Amazon Air, its dedicated air service, with plans to open a $1.5 billion air hub in Kentucky later this year. Amazon has taken a minority stake in Air Transport Services Group, an air freight partner that operates a significant share of the company s fast-growing aviation logistics unit. ....
By Cirium2021-02-19T14:07:00+00:00 Atlas Air Worldwide Holdings generated an operating profit of $495 million for the full year 2020 despite the coronavirus pandemic downturn making it the worst year in history for air cargo demand, reversing its fortunes from an operating loss of $461 million in 2019. The parent company of cargo and charter carriers Polar Air, Atlas Air and Southern Air generated $3.2 billion in operating revenue for the full year 2020, up 16% from $2.7 billion in 2019 when it faced a global air freight slump amid the prospect of a trade war between the USA and China. Source: Atlas Air Worldwide Holdings Atlas Air Boeing 747 ....
February 11, 2021 NEW YORK (AFP) – Boeing said on Tuesday it again suffered more cancellations than new orders for aircraft in January as the Covid-19 pandemic continues to weigh on airlines. The aerospace giant said it delivered 26 planes to its customers, mainly of the 737 Max, after commercial flights of the aircraft resumed following the 20-month grounding in the wake of two deadly crashes. While aircraft rental company Atlas Air Worldwide pledged to purchase four 747-8F cargo planes last month, the manufacturer said six orders were cancelled. In 2020, the company notched just 184 orders and 655 cancellations or changes, including 641 of the 737 Max. Boeing recently resumed deliveries of the top-selling Max, which US regulators cleared to return to the skies in November after the crashes that killed 346 people. ....
Atlas Air to Purchase 4 Boeing 747-8 Freighters albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.