Atlas Air parent company plans share repurchases

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Atlas Air Worldwide Holdings, the parent company of Atlas Air, says it has completed a review of its capital allocation strategy.

The cargo specialist anticipates that excess cash from business investments and balance sheet maintenance requirements will be allocated to its share repurchase programme.

The company intends to begin actively purchasing shares in the first quarter of 2013.

"Share purchases would recommence under a previously announced $100 million share repurchase programme," it said at a presentation to investors at the CJS Securities New Ideas for the New Year conference.

Up to $81 million remains available for purchases under the current programme.