Atlas Air reports full year results while Panalpina ends one 747-8F deal

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Atlas Air has announced its full-year and fourth-quarter earnings. While adjusted net income for the fourth quarter fell from $41.8m in 2013 to $38.8m, and for the full year fell from $96.8m to $93.5m, the carrier said it had undergone heavy maintenance expenses on its 747-400Fs, which had offset an increase in aircraft utilisation.

Perhaps more interesting though is a change in deal terms with Panalpina, which had been wet-leasing two 747-8Fs on multi-year leases. From next month, however, one of ...