It's not often that a growing, highly profitable company is punished by the market as severely as Atlas Air Inc. was last week., but the Golden, Colo.-based cargo carrier was mauled mercilessly.

THE EUROPEAN CIVIL AVIATION Conference's (ECAC) 35 member states have agreed to implement ``a new institutional strategy'' to enhance air traffic management (ATM).

Strong commercial aircraft sales are expected to propel revenues and earnings upward at Coltec Industries Inc. in the next 24 months.

Large-cap U.S. aerospace/defense stocks are spring-loaded, and they are likely to remain that way at least through the first quarter, according to some Wall Street analysts.

Southwest Airlines expects fourth-quarter profits to lag substantially behind earnings for the same period last year.

The U.S. National Transportation Safety Board has concluded that the use of improper procedures by pilots of a ValuJet McDonnell Douglas DC-9 led to deployment of ground spoilers on final approach, resulting in a hard landing last January at Nashville International Airport.

Following in Rockwell International's footsteps, Texas Instruments Inc. has decided the time has come to offload its defense business--despite its earlier insistence that the operating unit was a valued part of the company's long-range business strategy.

Seattle Boeing is studying an "alertness management'' philosophy and other methods, such as cockpit napping and a self-test device, to more accurately gauge and combat pilot fatigue.