The outsourced aircraft and aviation operating services provider reported a net income attributable to common stockholders of $28.4 million for the second quarter and $57.6 million for the first half of the year.
Atlas Air Worldwide reported net income attributable to common stockholders dropped 4.1 percent year-over-year to $28.4 million in the second quarter, but rose 53.6 percent year-over-year to $57.6 million in the first half of 2015.
Atlas Air Worldwide decreased diluted earnings per share from $1.17 to $1.13 year-over-year in the second quarter and increased diluted earnings per share from $1.49 to $2.29 year-over-year for the first half of 2015, according to the company’s most recent unaudited financial statements.
The company’s total operating income for the second quarter stood at $61.3 million and $118.3 million for the first half of the year, up 129.6 percent and 115.9 percent year-over-year, respectively.
Total Operating revenues for the second quarter grew 3.3 percent from the prior year to $455.8 million. Operating revenues for the first half of 2015 stood at $900.7 million, up 6.7 percent year-over-year.
Atlas Air’s ACMI division, which provides fully crewed, maintained and insured aircraft, saw operating revenues rise 1.4 percent year-over-year in the second quarter to $189.3 million. Revenues and direct contribution in the ACMI division benefited from a rise in block hour volumes and lower heavy maintenance expense, which was partially offset by a decrease in the revenue per block hour, the company said.
Operating revenues in the Charter division rose 4.5 percent year-over-year in the second quarter to $235.4 million. The company attributed the increase to a rise in commercial cargo demand, improvements in military passenger and cargo demand, and a drop in heavy maintenance expenses.
The Dry Leasing division saw operating revenues increase 7.5 percent year-over-year to $27.4 million in the second quarter.
“We are seeing good demand for our aircraft and services as we enter the second half of 2015, as many of our customers are outperforming the overall market,” Atlas Air Worldwide President and CEO William J. Flynn said in a statement. “Our approach to business growth remains disciplined, and we are managing our fleet accordingly. In addition, we are utilizing proceeds from our recent convertible note issuance to refinance higher cost debt, which will reduce aircraft ownership costs, increase fleet flexibility and enhance cash flows.”
Atlas Air Worldwide reports mixed quarterly, half-year results
