"Global airfreight demand is approaching its previous peak level in early 2008, led by the Asia-Pacific region," Atlas Air Chief Executive William Flynn said in a statement.
The provider of charter freight services to commercial airlines and the U.S. military said net income rose 44 percent to $33.8 million, or $1.30 a diluted share, for the first quarter, from $23.4 million, or $1.12 a share, a year earlier.
Excluding one-time items, profit was $1.06 a share in the latest period. Analysts had expected 72 cents a share, according to Thomson Reuters I/B/E/S.
Operating revenue rose 21 percent to $295.2 million, helped by stronger military and commercial charter volume.
Amid the continuing recovery, Atlas Air said it now expects full-year adjusted earnings to exceed $4 a share, up from a forecast of $3.08 a share in late February. Analysts have expected profit of $3.34 a share for the year. (Reuters)
