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To: jim_p who wrote (5347)	6/19/2001 4:12:52 PM
From: The Ox	Read Replies (1) of 23153

Atlas Air warns, to cut 200 positions --9:48am - By Michael Baron Atlas Air (CGO) is down $1.08, or 5.7 percent, to $18.01, after the Purchase, N.Y., firm unveiled restructuring plans in response to the current global economic environment and the resulting decline in air cargo demand. The company plans to lay off roughly 200 employees, and decrease its fleet service levels by up to six aircraft. A charge of $40 million to $50 million will be recorded in relation to these moves. Atlas Air expects to breakeven for the current quarter and earn 90 cents to $1.10 a share for the full year, missing Wall Street expectations for both periods. The company expects its restructuring to result in annualized savings of about $50 million.

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