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October 19, 2019Cart

Business

by Westchester County Business Journal
by WCBJ

Purchase-based Atlas Air to add 100 jobs

Atlas Air Worldwide Holdings Inc., which is in the cargo airline, passenger charter airline and aircraft leasing business, has renewed the lease for its corporate headquarters space at 2000 Westchester Ave. in Purchase.

A spokesperson for the company told the Business Journal that they currently occupy 120,000 square feet in Purchase. The lease which was renewed had been due to expire in 2022. The length or other terms of the extension were not disclosed. The spokesperson said that Atlas plans to create an additional 100 jobs at its Purchase headquarters over the next five years, but does not anticipate needing additional space for them. It currently employs 568 people at the site. Overall, the company employs more than 3,500 people in its global operations. It has a logistics center at John F. Kennedy International Airport in Queens. The spokesperson said that Atlas does not fly out of Westchester County Airport.

According to a filing with the Securities and Exchange Commission, in 2018 Atlas Air operated more than 59,290 flights, serving 382 destinations in 89 countries. The company said it anticipated revenue of approximately $2.9 billion in 2019, with adjusted earnings before interest, tax, depreciation and amortization of approximately $520 million.

The company reported that based on the results of an IRS tax examination for 2015, it estimated that its full-year 2019 adjusted effective income tax rate would be approximately 16%.

Atlas Air began operations in 1992. The company started by leasing aircraft to other airlines complete with crew, maintenance and insurance. Today, Atlas Air Worldwide’s companies operate the world’s largest fleet of Boeing 747 freighter aircraft. It also provides customers Boeing 747, 777, 767, 757 and 737 aircraft for domestic, regional, and international applications.

“New York is our home and we are excited to strengthen our ties and expand our company in this dynamic, thriving state,” said William J. Flynn, chairman and CEO of Atlas Air Worldwide. “We will continue to grow our team of talented, world-class, customer focused employees in New York and throughout our global network.”