Atlas acquires Polar Air Cargo

by Canadian Shipper

Atlas Air Worldwide Holdings has completed its acquisition of Polar Air Cargo from GE Capital Aviation Services after an agreement announced in July.

The company also reported a third quarter net loss of US$4.2 million, or $0.11 per share, for the period ended September 30, 2001, compared to a net income of $23.1 million, or $0.60 per share, for the third quarter 2000. Atlas Air says the quarter was overshadowed by the events of September 11 and the immediate shutdown of US airspace following the terrorist attacks.

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