newstodate.aero
DEC 16, 2003 (newstodate): Atlas Air announces unaudited operating results for the third quarter and year-to-September much below earlier published estimates.
The company has now again revised its business accordingly, lowered its projections of future operating results, and opened renewed talks with its creditors.
Despite military traffic for the US forces engaged in the wars in Iraq and Afghanisatn, Atlas Air notes "lower than anticipated military charters", termination of one ACMI contract, lower than expected revenues from scheduled services due to the deep industrial crisis, and rising fuel prices.
To allow space for the new rounds of talks with creditors, Atlas Air has now deferred the anticipated date of a Chapter 11 fililng from December 15, 2003, to February 1, 2004.
The company has now again revised its business accordingly, lowered its projections of future operating results, and opened renewed talks with its creditors.
Despite military traffic for the US forces engaged in the wars in Iraq and Afghanisatn, Atlas Air notes "lower than anticipated military charters", termination of one ACMI contract, lower than expected revenues from scheduled services due to the deep industrial crisis, and rising fuel prices.
To allow space for the new rounds of talks with creditors, Atlas Air has now deferred the anticipated date of a Chapter 11 fililng from December 15, 2003, to February 1, 2004.