Atlas Air Inc. announces increased flying level for fourth quarter 1995.GOLDEN, Colo.--(BUSINESS WIRE)--Jan. 19, 1996--Atlas Air Inc. today announced that its flying level for the fourth quarter of 1995 increased by 63% over the year-earlier period. Total aircraft block hours In aviation, block hours is the time between an aircraft leaving from the departure gate and ariving at the destination gate. for the quarter rose to 10,809 from 6,619 hours in the fourth quarter of 1994. These results primarily reflected the increase in the airline's fleet from an average of 6 aircraft in the 1994 quarter to over 9 aircraft in the 1995 quarter, including the delivery of one 747-200 to the carrier in late November. In addition, the flying level performance for the quarter reflected strong operational results on the part of Atlas Air's customer airlines, who flew well above their contractual commitments. Michael Chowdry Michael A. Chowdry (1955-2001) was a Pakistani American businessman who became the founder of American-based cargo carrier Atlas Air in 1992. He made the Forbes 400 list and with a net worth of $920 million, ranked among the richest American businessmen of Pakistani heritage before , Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Golden, Colo.-based international cargo carrier, said: "We are very pleased with our fourth quarter flying performance. Not only did our operations exceed our expectations, but we set successive records for flying hours in October and then again in December. This obviously is a reflection of the strong demand for our services from our customers, as well as the continued strength of the underlying international cargo market. "This superior performance will obviously be reflected in our financial results for the quarter. In conjunction with the contracted delivery of three additional aircraft to Atlas in the first quarter and our expectation of entering into further aircraft delivery contracts during the course of the year, we believe this performance sets the stage for a very successful 1996 for Atlas Air Atlas Air is an American cargo airline based in Purchase, New York, United States. It operates scheduled freight flights on an ACMI contract basis for some of the world's leading airlines, flying to 101 cities in 46 countries. ." Atlas Air is a U.S.-certificated carrier that operates a fleet of ten 747 freighter aircraft under long-term contracts with international air carrier clients, including British Airways British Airways in full British Airways PLC International passenger airline based in London. In 1936 British Airways Ltd. was founded through the merger of three smaller airlines. , China Airlines, KLM KLM Kaiserliche Marine (Enigma: Rising Tide game) KLM Koninklijke Luchtvaart Maatschappij (Royal Dutch Airlines) KLM Klub Langer Menschen (German: Tall Person Club) , Lufthansa, Varig and the Emirates, and, as previously announced with SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. beginning in March. It serves 28 cities in 26 countries. The company expects to release its fourth quarter and full year 1995 financial results on Feb. 14. CONTACT: Atlas Air Inc. Richard H. Shuyler, 303/526-5050 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion