newstodate.aero
JUL 29, 2004 (newstodate): July 27 became the turning point for Atlas Air Worldwide Holdings as the company flew out of its Chapter 11 shelter.
Atlas Air's comprehensive financial and operational restructuring program has resulted in the discharge of more than USD600 million of pre-petition debt, enhanced profitability through a reduction in operating costs and the elimination of capacity, and reduced financial costs through the restructuring of aircraft-related debt and lease obligations.
-Our emergence is the culmination of a lot of hard work and begins a new chapter for our airlines, with a renewed organizational strength and focus for us, says Jeff Erickson, AAWW President and CEO.
Atlas Air's comprehensive financial and operational restructuring program has resulted in the discharge of more than USD600 million of pre-petition debt, enhanced profitability through a reduction in operating costs and the elimination of capacity, and reduced financial costs through the restructuring of aircraft-related debt and lease obligations.
-Our emergence is the culmination of a lot of hard work and begins a new chapter for our airlines, with a renewed organizational strength and focus for us, says Jeff Erickson, AAWW President and CEO.