Company Broadens Its CMI Solutions; Expands Long-Term Relationship
with Leading Express Carrier
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), a leading global
provider of outsourced aircraft and aviation operating services, today
said that its Atlas Air, Inc. unit has commenced Boeing 767 cargo
service in North America for DHL Express under a previously announced
long-term CMI (Crew, Maintenance and Insurance) contract.
The new service on behalf of the world's leading international express
shipping company further expands Atlas Air's asset-light CMI service
solution, which was launched in 2010. Atlas Air expects CMI to be a
strategic driver of increased revenues and earnings and improved
"By growing our CMI operations, we continue to diversify our business
mix while at the same time strengthening our long-term relationship with
DHL Express," said William J. Flynn, President and Chief Executive
Officer, Atlas Air Worldwide. "Customers like DHL recognize that our
technical expertise, global scope and scale of operations, and deep
industry knowledge can greatly assist them in their own operations."
Under the agreement, Atlas Air, Inc. will operate five Boeing 767-200
freighters owned by DHL in DHL's North American network. The first of
these aircraft started service this month and all five are expected to
be operational by the third quarter of 2012.
Atlas crews will operate the aircraft on behalf of DHL on routings to
and from DHL's Cincinnati hub. Depending on routes flown, the eventual
five aircraft are expected to generate a total volume of approximately
130 to 150 block hours per aircraft per month.
The business also highlights Atlas Air's further expansion into a new,
attractive gauge of aircraft, the Boeing 767, which is expected to be an
important part of the company's fleet strategy going forward. Atlas
Air's innovative 767 freighter and passenger operations complement its
market-leading Boeing 747 freighter and passenger operations.
The company, through its Polar Air Cargo Worldwide, Inc. subsidiary,
also provides time-definite, 747-400 freighter network service to DHL,
primarily in the trans-Pacific trade lanes.
"Our new 767 service for DHL Express is another milestone event for
Atlas," Mr. Flynn added.
"It shows that we are executing on the strategies that are central to
our business plan, demonstrates growth of our asset-light CMI business
and represents an expansion of our relationship with DHL Express. It
also underscores our growth into a key new equipment type and is
symbolic of where we are taking the company."
About Atlas Air Worldwide:
Atlas Air Worldwide is the parent company of Atlas Air, Inc. (Atlas) and
Titan Aviation Leasing (Titan), and is the majority shareholder of Polar
Air Cargo Worldwide, Inc. (Polar). Atlas Air Worldwide also maintains a
49% interest in Global Supply Systems Limited (GSS). Through Atlas and
Polar, Atlas Air Worldwide operates the world's largest fleet of Boeing
747 freighter aircraft.
Atlas, Titan and Polar offer a range of outsourced aircraft and aviation
operating services that include ACMI service - in which customers
receive an aircraft, crew, maintenance and insurance on a long-term
basis; CMI service, for customers that provide their own aircraft;
express network and scheduled air cargo service; military charters;
commercial cargo charters; and dry leasing of aircraft and engines.
Atlas Air Worldwide's press releases, SEC filings and other information
can be accessed through the Company's home page, www.atlasair.com.
This release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995 that reflect Atlas
Air Worldwide's current views with respect to certain current and future
events and financial performance. Such forward-looking statements are
and will be, as the case may be, subject to many risks, uncertainties
and factors relating to the operations and business environments of
Atlas Air Worldwide and its subsidiaries (collectively, the "companies")
that may cause the actual results of the companies to be materially
different from any future results, express or implied, in such
Factors that could cause actual results to differ materially from these
forward-looking statements include, but are not limited to, the
following: the ability of the companies to operate pursuant to the terms
of their financing facilities; the ability of the companies to obtain
and maintain normal terms with vendors and service providers; the
companies' ability to maintain contracts that are critical to their
operations; the ability of the companies to fund and execute their
business plan; the ability of the companies to attract, motivate and/or
retain key executives and associates; the ability of the companies to
attract and retain customers; the continued availability of our
wide-body aircraft; demand for cargo services in the markets in which
the companies operate; economic conditions; the effects of any
hostilities or act of war (in the Middle East or elsewhere) or any
terrorist attack; labor costs and relations; financing costs; the cost
and availability of war risk insurance; our ability to maintain adequate
internal controls over financial reporting; aviation fuel costs;
security-related costs; competitive pressures on pricing (especially
from lower-cost competitors); volatility in the international currency
markets; weather conditions; government legislation and regulation;
consumer perceptions of the companies' products and services;
anticipated and future litigation; and other risks and uncertainties set
forth from time to time in Atlas Air Worldwide's reports to the United
States Securities and Exchange Commission.
For additional information, we refer you to the risk factors set forth
under the heading "Risk Factors" in the Annual Report on Form 10-K filed
by Atlas Air Worldwide with the Securities and Exchange Commission on
February 15, 2012. Other factors and assumptions not identified above
may also affect the forward-looking statements, and these other factors
and assumptions may also cause actual results to differ materially from
Atlas Air Worldwide assumes no obligation to update such statements
contained in this release to reflect actual results, changes in
assumptions or changes in other factors affecting such estimates other
than as required by law.
For Atlas Air Worldwide Holdings, Inc.
Bonnie Rodney, 914-701-8580