Air Freight Companies: Cleared for Takeoff?David Bogoslaw
Atlas Air Worldwide Holdings (AAWW) had a spectacular third quarter, showing a 181% jump in profits despite a 45% decline in revenue from a year ago in a report released Oct. 26. Too bad the aircraft owner and outsourcer of operating services isn't representative of most of the freight-delivery industry, whose financial results continue to be hobbled by the weak economy. (Despite the strong results, the shares were hammered 20% lower on Oct. 26 as the company announced a stock offering that investors feared would prove dilutive to its earnings per share.)
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