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A cargo aircraft landed safely after experiencing an engine malfunction shortly after departure from Miami International Airport, Atlas Air said on Friday.
Publicly traded cargo airline Atlas Air said Tuesday the Department of Transportation has signed off on its sale to private investors and that it expects to finalize the deal Friday. A private equity consortium led by Apollo Global Management (NYSE: APO) agreed in early August to buy Atlas Air Worldwide Holdings (NASDAQ: AAWW) for $5.2 billion, including $2.2 billion in debt.
All-cargo airline Atlas Air Worldwide recorded $287 million in fourth-quarter adjusted earnings before accounting measures, a 23.6% decline from the prior year, reflecting weak shipping demand that resulted in fewer flying hours and higher operating costs associated with weather disruptions. Thursday's earnings report is likely the last for Purchase, New York-based Atlas Air (NASDAQ: AAWW), which is being purchased by an investor group led by Apollo Global Management.
BGS, AAWW and MOS have been added to the Zacks Rank #5 (Strong Sell) List on February 21, 2023.
PURCHASE, N.Y., Feb. 17, 2023 (GLOBE NEWSWIRE) -- Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) will release results for the fourth quarter and full year ended December 31, 2022, prior to the opening of stock market trading on Thursday, February 23.
Boeing is delivering its final 747 jumbo jet on Tuesday after introducing more profitable and fuel-efficient wide-body planes in the last 15 years.
Atlas Air has limited upside. Most upside already materialized since the takeover and funds might be deployed more efficiently elsewhere.
Stocks like UPS, Atlas Air (AAWW) and Air Transport Services (ATSG), belonging to the Zacks Transportation-Air Freight and Cargo industry, should benefit from favorable demand and pricing.
The company is experiencing solid demand for assets and services due to sustaining shifts in consumer demand for long-term dedicated airlifts. The company has entered into two agreements of dry-lease and AMCI Placements.
PURCHASE, N.Y., Oct. 21, 2022 (GLOBE NEWSWIRE) -- Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) will release results for the third quarter ended September 30, 2022, prior to the opening of stock market trading on Thursday, November 3.