Atlas Air Worldwide Holdings has reported strong increases in volumes, revenue and earnings for the fourth quarter and full year of 2020. These results were driven by ongoing demand for its assets and services and its operational execution.
On a reported basis, net income totaled US$184.0 million for the three months ended December 31, 2020. Results compare with a reported loss of US$410.2 million for the three months ended December 31, 2019, which was primarily due to a non-cash special charge of US$616.2 million (US$485.2 million after tax).
On an adjusted basis, EBITDA rose to US$279.7 million in the fourth quarter of 2020 compared with US$204.7 million in the prior-year period. Adjusted net income increased to US$143.2 million in the fourth quarter of 2020 compared with US$98.2 million in the prior-year period.
For the twelve months ended December 31, 2020, net income totaled US$360.3 million which included a US$71.1 million unrealized loss on financial instruments. Reported results for the twelve months ended December 31, 2019, reflected a net loss of US$293.1 million which included a non-cash special charge of US$638.4 million (US$503.1 million after tax), partially offset by an unrealized gain on financial instruments of US$75.1 million.
On an adjusted basis, EBITDA grew to US$844.2 million in 2020 compared with US$504.8 million in 2019. For the twelve months ended December 31, 2020, adjusted net income increased to US$379.0 million compared with US$139.6 million in 2019.
