News / Upbeat Atlas Air notes Q1 losses, but says 2017 is 'off to an exciting start'

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Atlas Air yesterday announced a net first-quarter loss of $752,000, down from a profit of $471,000 a year earlier, as expenses grew for its fleet expansion.

Revenue was up 13.6% to $475m and operating income was up nearly 14%, to $24m, while there was also an unrealised loss on financial instruments of $5.2m, related to outstanding warrants.

Cash and cash equivalents fell from $124m at the end of December to $109m, with Q1 operating cash flow of $18.6m, while capex was $21m. Payments for ...