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Atlas Air Worldwide Dispatchers Ratify Initial Labor Agreement

Stocks in this article: AAWW

Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), a leading global provider of outsourced aircraft and aviation operating services, today announced that dispatchers of its subsidiaries, Atlas Air, Inc. (Atlas) and Polar Air Cargo Worldwide, Inc. (Polar), have ratified a collective bargaining agreement with the International Brotherhood of Teamsters, Local 210.

The five-year agreement is the first one for dispatchers represented by the union.

“We are very pleased to have finalized our new collective bargaining agreement with our highly experienced dispatchers,” said John Dietrich, Executive Vice President and Chief Operating Officer of Atlas Air Worldwide. “We achieved all of our objectives in this process, including preserving productive work rules and flexibility, while maintaining competitive compensation and favorable benefits for our dispatchers. We achieved long-term labor stability with our valued employees, enabling us to provide continued value to our customers and shareholders.”

Mr. Dietrich added: “Negotiations with Atlas and Polar dispatchers and their representatives from the International Brotherhood of Teamsters, which began in 2009, were constructive and professional, with genuine interest by both parties to reach agreement. We applaud the union leadership and its efforts.”

The company’s dispatchers are responsible for planning and monitoring the progress of aircraft during flight and, along with the pilot in command, are legally responsible for the safety of a flight.

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). 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 cargo and passenger charters; commercial cargo and passenger charters; and dry leasing of aircraft and engines.

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