Atlas Air updates outlook, has $235.6 million of cash available

Chicago, May 7 – Atlas Air Worldwide Holdings Inc. reported first-quarter results and updated its outlook on Thursday in a press release.

Cash and cash equivalents, short-term investments and restricted cash totaled $235.6 million as of March 31, compared with $114.3 million as of Dec. 31, 2019.

“Net cash provided by financing activities during the period primarily related to proceeds from debt refinancing and from our revolving credit facility, partially offset by payments on debt obligations,” the company reported.

In March, the company drew down $75 million on its revolver and had $19.8 million of unused availability as of March 31.

The company believes it will generate sufficient liquidity to satisfy its obligations over the next year.

Atlas Air is a Purchase, N.Y.-based provider of outsourced aircraft and aviation operating services.

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