ATLAS CUTS CREW IN RESPONSE TO WEAK DEMAND
Atlas Air, the all-cargo operator that flies freighters for other airlines, has decided to furlough 105 crew members to contain costs in the face of an economic slowdown that is weakening demand for the company's services.
Atlas said it had staffed its freighters this year in anticipation of a significant increase in business. That has not happened and Atlas indicated that it did not expect business to pick-up significantly anytime soon.
“While we hope to see a strengthening in demand as we go into the second half of this year, it is only prudent to take those measures necessary to ensure that we are best-positioned to deal effectively with any prolonged economic weakness,” said Richard Shuyler, chief executive officer.
Shuyler said Atlas will monitor its cost structure carefully throughout the rest of the year and will take additional actions if necessary to remain cost efficient.