A unit of global air freight company Atlas Air greed to pay USD$95,000 as part of a settlement with the US Federal Aviation Administration over a maintenance issue, according to a filing in US District Court in lower Manhattan.

The issue involved a weld to an engine exhaust nozzle cowl that was not performed in accordance with FAA rules, and the mechanic who did the work during the May 2006 repair was unqualified, according to the settlement filed on Wednesday.

Atlas Air World shares closed at USD$59.90, up USD$1.31 or 2.24 percent, on Nasdaq.