Atlas Air and Polar Air Cargo parent Atlas Air Worldwide Holdings, in its first full fiscal year since exiting bankruptcy protection, reported a 2005 profit of $73.9 million on revenue of $1.62 billion, a performance that left the company confident as it pursues a listing of its common stock on a national exchange."We believe that reaching these milestones will greatly broaden our potential investor base and therefore interest in AAWW, ensuring a more liquid market for our shares," Senior VP and CFO Michael Barna said.

Atlas exited bankruptcy in late July 2004, making full-year comparisons difficult. The company provided separate figures for its pre- and post-Chapter 11 performance in 2004, but on a pro forma basis, as calculated by ATWOnline, it posted a profit of $51 million in 2004 on revenues of $1.41 billion. Operating expenses in 2005 were $1.42 billion compared to $1.37 billion in 2004. Operating profit more than quadrupled from $44.3 million to $193.3 million.

Atlas operated 39 747Fs at year end (it now has 41) and flew 157,259 block hr. in 2005, an increase of 2.1%. RTMs fell 30% to 1.41 billion against a 33.1% decline in capacity to 2.16 billion ATMs. Load factor rose 3 points to 65.7%. Unit revenues grew 30.3% to 25.8 cents and yield increased 24.4% to 39.3 cents.

In the fourth quarter ended Dec. 31, 2005, AAWW earned $27.5 million, a slight improvement over the $27.1 million earned in the year-ago period, its first full quarter after exiting bankruptcy. Operating profit dipped 2.3% to $61 million.

Goals for 2006 include an increased presence for its Scheduled Service business in China, where it already has boosted weekly frequencies from nine to 12, and fleet renewal, which will start with the phasing out of older aircraft this year.