MIAMI – Atlas Air (5Y) has refused to heed calls from members of the US Congress and some members of the public to repay US$406m in COVID-19 bailout funds.
The primary reason given by those who want the funds repaid is the fact that cargo carriers have done well as a result of the pandemic, with many passenger planes with cargo hold space now grounded.
The airline has reported an eightfold increase in adjusted net income along with 25% more revenue in the third quarter compared to the previous year.
Source:: “Airways Magazine”