newstodate.aero
FEB 02, 2004 (newstodate): On January 30, Atlas Air announced that it has now filed for protection under Chapter 11.
-Through the Chapter 11 filing we intend to implement the restructuring efforts which had commenced in March 2003 to respond more effectively to changes in the air cargo marketplace, reducing operating costs, reducing the size of our fleet to match demand and reducing our leasing and secured borrowing costs to better mirror current market conditions, says Jeff Erickson, Atlas Air Worldwide Holding president and CEO.
-Through the Chapter 11 filing we intend to implement the restructuring efforts which had commenced in March 2003 to respond more effectively to changes in the air cargo marketplace, reducing operating costs, reducing the size of our fleet to match demand and reducing our leasing and secured borrowing costs to better mirror current market conditions, says Jeff Erickson, Atlas Air Worldwide Holding president and CEO.