Jesup & Lamont Initiates Coverage on Atlas Air Worldwide Holdings (AAWW) with a Hold
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Jesup & Lamont initiates coverage on Atlas Air Worldwide Holdings Inc (Nasdaq: AAWW) with a Hold.
Jesup analyst says, "Atlas Air emerged from Chapter 11 in 2004 having restructured its operations following a 2002 bankruptcy filing. The company was able to eliminate some of its unprofitable Classic Boeing 727-200 aircraft during the bankruptcy filing. Atlas Air operates a fleet of 37 Boeing 747-200 and -400 aircraft. Atlas has long term relationships with its major customers, including DHL, British Airways, Emirates, Qantas and the US military. Atlas staggers its contract renewals so that it does not have more than three renewals in any one year. Atlas’ growth model includes customer and geographic expansion, seeking to grow in the Asia Pacific and the Middle Eastern markets. The US is not a viable growth market for Atlas Air because of various (labor) contract restrictions that US airlines have with its pilots. Other potential opportunities for outsourcing include crew and training, as well as aircraft management and servicing."
Atlas Air Worldwide Holdings, Inc. (AAWW) provides leased freighter aircraft, furnishing outsourced air cargo operating services and solutions to the global air freight industry.
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