Atlas Air buying back shares
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- October
- 9
Atlas Air Worldwide Holdings Inc., the air cargo carrier in Purchase, said its board has approved a plan to spend up to $100 million to buy back shares of company stock.
Based on Wednesday’s closing price of $26.58 a share, the buy back would cover 17 percent of the company’s issued and outstanding shares. The company said it will use cash that it has available to make any share buys.
William J. Flynn, the company’s president and chief executive, said in a statement released by the company: “At current levels, we believe that the company’s stock is undervalued and represents an attractive investment opportunity.â€
This entry was posted
on Thursday, October 9th, 2008 at 8:52 am by Allan Drury.
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