Atlas Air Worldwide Holdings has posted its third-quarter 2022 results with net income of US$60.1 million compared with net income of US$119.5 million in the third quarter of 2021.
On an adjusted basis, EBITDA totalled US$194.0 million in the third quarter this year compared with US$280.5 million in the third quarter of 2021. Adjusted net income in the third quarter of 2022 totalled US$78.8 million compared with US$145.4 million in the third quarter of 2021.
Revenue grew to US$1.1 billion in the third quarter of 2022 compared with US$1.0 billion in the prior-year quarter. Volumes in the third quarter of 2022 totalled 79,274 block hours compared with 90,363 in the third quarter of 2021.
On August 4, 2022, Atlas Air Worldwide entered into a definitive agreement to be acquired by an investor group led by funds managed by affiliates of Apollo Global Management, together with investment affiliates of J.F. Lehman & Company and Hill City Capital.
The Company continues to expect to complete this transaction in the fourth quarter of 2022 or the first quarter of 2023.
