Atlas Air fills financial post from within
Atlas Air Worldwide Holdings, parent company of air-freight charter companies Atlas Air and Polar Air Cargo, promoted David Lancelot to senior vice president and chief financial officer. The positions have been open since Douglas Carty left the company in January.
Lancelot moves up from vice president and controller. He previously was controller at Polar Air Cargo and before that vice president of finance at AirTran Airways.
Lancelot has his work cut out for him as Atlas struggles to avoid bankruptcy and get its accounting systems in order. Earlier this year the Securities and Exchange Commission initiated an investigation into Atlas' accounting practices, after the airline revealed it may have overstated earnings during the past couple of years. Atlas is in the process of auditing its financial statements and expects to restate its earnings soon.