The world's largest operator of B747 freighters, Atlas Air Worldwide Holdings, has seen comparative revenues almost double in the third quarter largely due to last year's acquisition of Polar Air Cargo.
Group revenue for the three months to September increased US$140.1 million to US$290.8 million.
The company said revenues at Atlas Air, the group's leasing arm, rose US$20.9 million compared with last year as strong commercial and military charter activity offset contract service revenue declines.
It did not state the subsidiary's overall profitability or that of Polar Air.
'As the third quarter came to a close, we began to see the expected seasonal improvement in air freight demand. This trend became more pronounced in October as a result of increased charter activity due primarily to the labour disruption at ports on the west coast, as well as strong demand for military charters,' chief executive Richard Shuyler said in a statement.
'This demand has led to substantial improvement in rates in our charter business. Our charter capacity is now almost fully booked through year-end, with additional bookings extending into January.
