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TheStreet Open House

Atlas Air Worldwide Announces New ACMI Contract With Etihad Airways

Stocks in this article: AAWW

Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), a leading global provider of outsourced aircraft and aviation operating services, announced today that its Atlas Air, Inc. unit has entered into a contract with Etihad Airways, the national carrier of the United Arab Emirates, to provide Boeing 747-400 Freighter service for Etihad Cargo.

The contract is for one aircraft under a multiyear Aircraft, Crew, Maintenance and Insurance (ACMI) agreement, with service beginning in June 2012. This will be the first 747-400F in Etihad Cargo’s global network and it will link Asia, Africa, Europe and other global trade lanes with Etihad Airways’ hub in Abu Dhabi.

“We are delighted to add Etihad Airways to our portfolio of ACMI customers,” said William J. Flynn, President and Chief Executive Officer, Atlas Air Worldwide. “Atlas Air has the largest and most modern fleet in our industry, with a mix of cargo and passenger aircraft, serving customers who are leaders in their markets. Etihad Airways takes pride in providing reliable, high-quality service across its expanding international route network. We look forward to welcoming not only a new customer for Atlas Air, but also future opportunities for strategic expansion for both companies.”

James Hogan, Etihad Airways President and Chief Executive Officer, said: “In Atlas Air, we have found a first-rate partner focused on operational excellence, security and outstanding customer service. We look forward to a rewarding relationship that leverages each of our expertise to grow global trade.”

David Kerr, Etihad Airways Vice President Cargo, added: “We are strongly committed to building our presence in the cargo sector and to serving the growing demand from our customers around the world. We have the fortune of geography and being able to bridge many of the trade flows from producer to consumer markets.”

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.

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