Luxembourg-based cargo carrier Cargolux made $49 million net profit from sales of $807 million last year, both record results for the airline. Despite falling traffic in the Americas, blamed on the slump in the high-technology sector, the airline saw traffic grow from 3.8 billion to 4.2 billion revenue tonne kilometres over the year. Meanwhile, Atlas Air of New York started to pull back from bankruptcy by signing a debt-restructuring deal with GE Capital Aviation Services, its largest lessor. It still hopes to sign deals with several other debtors by the end of this month "or as soon as possible thereafter", but warned success was uncertain. Failure could mean the repossession of much of its fleet.
Source: Flight International
