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Atlas Air Worldwide Announces New Contract With Chapman Freeborn

Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) announced today that its Atlas Air, Inc. unit has entered into a contract with Chapman Freeborn Airchartering Ltd. to provide Boeing 747-400 Freighter service.

The contract is for one aircraft under a multiyear Aircraft, Crew, Maintenance and Insurance (ACMI) agreement, with service beginning April 2013. This will be the first dedicated 747-400F in Chapman Freeborn’s network fleet, which regularly includes a large number of various aircraft types under long-term arrangements. Chapman Freeborn first secured a 747-200F under a long-term arrangement in 2009 and has had various other 747 freighters under contract since that time.

“We are delighted that Chapman Freeborn, a leading air charter specialist, has selected Atlas Air to provide it with capacity,” said William J. Flynn, President and Chief Executive Officer, Atlas Air Worldwide. “Chapman Freeborn has been a valued charter customer of ours for more than 12 years, and we appreciate this opportunity to expand the scope of our longtime relationship.”

Chapman Freeborn Chief Executive Officer Russi Batliwala, said, “We are glad to partner with Atlas Air. They share our values and entrepreneurial spirit and are focused on operational excellence, security and outstanding customer service -- as are we.”

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 solutions 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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