Corporate Profile for Atlas Air, Inc., dated June 25, 1999.--(BUSINESS WIRE)-- The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: June 25, 1999
Company Name: Atlas Air, Inc.
Address: 538 Commons Drive
Golden, CO 80401
Main Telephone
Number: 303/526-5050
Internet Home
Page Address
(URL) www.atlasair.com
Chief Executive
Officer: Michael A. Chowdry
Chief Financial
Officer: Steven C. Nevin
Investor Relations
Contact: Suzanne Pierce
Business number: 303/526-5050
E-mail address: spierce@atlasair.com
Public Relations
Contact: Vicki L. Foster
Business number: 303/526-5050
E-mail address: vfoster@atlasair.com
Industry: Air Cargo
Trading Symbol/
Exchange: NYSE:CGO
Company description: 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. , Inc., based in Golden, Colo., is a worldwide cargo carrier that operates a fleet of Boeing 747 freighter airplanes under long-term contracts with the world's major international airlines. 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 founded the company in April 1992, with one 747-200F serving China Airlines. The initial service was under the name of Atlas Air, Inc. In 1995, Atlas issued shares to the public and traded on NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on under ATLS ATLS Advanced Trauma Life Support ATLS Aerial Target Launch Ship . On Nov. 11, 1997, the company transferred its listing to the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and trades under CGO CGO Cargo CGO Code Generation and Optimization CGO Cogeco Inc (stock symbol) CGO Zhengzhou, China (Airport Code) CGO Chief Globalization Officer CGO Company Grade Officer . The company's fleet includes 23 Boeing 747-200's and 5 Boeing 747-400's and lands in airports in 76 cities and 42 countries. Revenues for the fiscal year ending in Dec. 31, 1998, were $422.2 million. The majority of the company's income is obtained under fixed-rate, long-term contracts with major airlines. Under these contracts, Atlas provides the aircraft, crew, maintenance, and insurance (ACMI) for clients such as Alitalia, China Airlines, 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. , Fed Ex and Cargolux. The customers pay all other operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. including fuel, airport fees and services, and cargo insurance. One aircraft is dedicated to the customer under each contract and the customer guarantees a minimum level of usage. By offering its services exclusively to airlines, the company avoids competitive conflicts of interest and through its contracts creates stability of income for itself and guaranteed availability of space to its customers. The company is the only pure air cargo air cargo: see aviation. outsourcer and the largest ACMI carrier in the freight service business. Its strategy is to be the low-cost carrier and to provide a high level of service to its customers. To do this, the company maintains a fleet of 747 freighter aircraft that are considered the most efficient and cost effective for the market segments served. Atlas is able to offer freight services at up to 30% less than its customer's internal costs. |
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