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Mephar - Atlas Air

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Atlas Air Worldwide Holdings, Inc. Consolidated Statements of Operations (in thousands, except per share data) (Unaudited) Successor Predecessor For the Period For the July 28, 2004 Period through January 1, For the December 31, 2004 through Year Ended 2004 July 27, 2004 December 31, 2003 Operating Revenues Scheduled service $296,823 $343,605 $524,018 Charter 53,325 15,812 86,592 ACMI lease contracts 182,322 194,332 305,475 AMC charter 126,235 156,260 430,287 Other revenue 20,589 25,358 37,279 Total operating revenues 679,294 735,367 1,383,651 Operating Expenses Salaries, wages & benefits 91,463 120,609 194,390 Maintenance, materials and repairs 102,683 133,336 197,629 Aircraft fuel 176,009 175,103 326,022 Aircraft rent 60,151 81,886 183,329 Ground handling 40,815 53,558 86,612 Landing fees and other rent 37,960 53,039 91,995 Depreciation and amortization 25,457 33,510 60,138 Travel 25,741 29,549 59,223 Pre- and post-petition costs and related professional fees 4,106 11,545 44,382 Other 47,935 65,931 145,860 Total operating expenses 612,319 758,066 1,389,580 Operating income (loss) 66,975 (22,699) (5,929) Non-operating Expenses Interest income (917) (572) (3,872) Interest expense (excluding post-petition contractual ...

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Publié par	Mephar
Nombre de lectures	84
Langue	English

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Atlas Air Worldwide Holdings, Inc. Consolidated Statements of Operations (in thousands, except per share data) (Unaudited)

Operating Revenues Scheduled service Charter service ACMI lease contracts AMC charter Other revenue Total operating revenues Operating Expenses Salaries, wages & benefits Maintenance, materials and repairs Aircraft fuel Aircraft rent Ground handling Landing fees and other rent Depreciation and amortization Travel Pre and postpetition costs and related professional fees Other Total operating expenses Operating income (loss) Nonoperating Expenses Interest income Interest expense (excluding postpetition contractual interest of $20,956 for the period January 31, 2004 through July 27, 2004) Other, net Reorganization items, net Total nonoperating expenses (income) Income (loss) before income taxes Income tax expense Net income (loss) Income (loss) per share: Basic Diluted Weighted average shares: Basic Diluted

SuccessorPredecessorFor the PeriodFor the July 28, 2004Period through January1, Forthe December 31,2004 throughYear Ended 2004July 27, 2004December 31, 2003 $296,823$343,605 $524,018 53,325 15,81286,592 182,322 194,332305,475 126,235 156,260430,287 20,589 25,35837,279 679,294 735,3671,383,651 91,463 120,609194,390 102,683 133,336197,629 176,009 175,103326,022 60,151 81,886183,329 40,815 53,55886,612 37,960 53,03991,995 25,457 33,51060,138 25,741 29,54959,223 4,106 11,54544,382 47,935 65,931145,860 612,319 758,0661,389,580 66,975 (22,699) (5,929) (917) (572)(3,872)

30,582 50,22297,476 (3,504) 1,4341,457  (112,513) 26,161 (61,429)95,061 40,814 38,730(100,990) 18,104 10,484 $22,710$28,246 $(100,990) $ 1.12$ 0.74$ (2.63) $ 1.11$ 0.74$ (2.63) 20,210 38,37838,360 20,526 38,37838,360

Operating StatisticsThe table below sets forth selected operating data for the years ended December 31, 2004 and 2003, for the 2004 Plan, and for the Successor Period versus Plan. Successor For the Year Ended December31, Forthe period July 28, 2004 20042004 2003through December 31, 2004 OPERATING STATISTICSActual PlanActual ActualPlan Block HoursScheduled Service55,111 56,67254,217 22,87025,202 Commercial Charter4,973 6,5597,957 3,5153,073 AMC 22,37613,200 34,9599,576 5,642 ACMI 70,34359,327 58,53633,946 26,813 Non Revenue1,176 7843,019 487391 Total Block Hours153,979 136,547158,688 70,39361,121 Revenue Per Block HourCommercial Charter13,902.5 10,400.110,882.7 15,171.610,401.4 AMC 12,625.011,532.5 12,308.313,182.1 11,549.1 ACMI 5,354.65,218.0 5,218.55,371.0 5,199.3 Scheduled Service TrafficRTM’s (000’s)2,021,903 1,975,6631,843,882 851,179897,518 ATM’s (000’s)3,222,942 3,456,8503,253,236 1,327,6331,526,386 Load Factor62.73% 57.15%56.68% 64.11%58.80% RATM $0.199$0.172 $0.161$0.224 $0.180 Yield $0.317$0.301 $0.284$0.349 $0.307 Average fuel cost per gallon$1.25 $0.94$0.98 $1.42$0.92 Fuel gallons consumed280,304 261,673333,747 124,173115,981 Operating Fleet (average during the period) 1 Aircraft count37.7 36.345.0 38.036.0 1 Operating Fleet excludes the following aircraft count that were dry leased or out of service: Dry Leased4.0 4.93.7 4.05.0 Out of Service3.3 4.13.3 1.20.0

Atlas Air Worldwide Holdings, Inc. 2004 Successor Actual Versus 2004 Successor Plan (in thousands) (Unaudited) Successor the Period July 28,2004 For through December 31, 2004 Plan Actual Operating RevenuesScheduled service$ 296,823$ 275,464 Charter service53,325 31,964 ACMI lease contracts182,322 139,408 AMC charter126,235 65,160 Other revenue20,589 13,810 Total operating revenues679,294 525,806 Operating ExpensesSalaries, wages & benefits91,463 78,906 Maintenance, materials and repairs102,683 69,862 Aircraft fuel176,009 106,770 Aircraft rent60,151 53,289 Ground handling40,815 35,697 Landing fees and other rent37,960 33,705 Depreciation and amortization25,457 16,006 Travel 25,74119,176 Postpetition costs and relatedprofessional fees4,106 2,232 Other 47,93538,821 Totaloperating expenses612,319 454,465 Operating income66,975 71,341 Nonoperating ExpensesInterest income(917) (241) Interest expense30,582 23,744 Other, net(3,504)  Totalnonoperating expenses26,161 23,503 Income before income taxes40,814 47,838 Income tax expense18,104 18,029 Net income$ 22,710$ 29,809

Atlas Air Worldwide Holdings, Inc. Reconciliation to NonGAAP Measures 2004 Successor Actual Versus 2004 Successor Plan and 2003 (in thousands) (Unaudited) SuccessorPredecessorFor the Year For the Period July 28, 2004 Ended Dec. 31 ThroughDecember 31, 2004 ActualPlan 2003Income (loss) before income taxes$ 40,814$ 47,838$ (100,990) Pre and postpetition costs and related professional fees2,232 44,382 4,106 Income (loss) before income taxes and before pre and postpetition costs and related professional fees44,920 50,070(56,608) Interest expense, net29,665 23,50393,604 Other, net(3,504) 1,457 Operating income before pre and postpetition costs and related professional fees71,081 73,57338,453 Depreciation and amortization25,457 16,00660,138 EBITDA 96,53889,579 98,591 Aircraft Rent60,151 53,289183,329 EBITDAR 156,689142,868 281,920

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