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BYLINE: Thomas L. Gallagher
Atlas Air Worldwide Holdings earned just $1.5 million in the second quarter on revenue of $438.8 million, as jet fuel costs outstripped surcharges.
Net income fell 97 percent below last year's mark of $43.2 million as the cost of fuel soared 75 percent to $213.4 million, an average price of $3.61 per gallon, the company said.
AAWW said there was strong demand for its 747-400 freighters.
"With our focus on operating …