This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Atlas Air Worldwide Announces New 747-400 ACMI Contract With Astral Aviation

Stock quotes in this article: AAWW

Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), a leading global provider of outsourced aircraft and aviation operating solutions, today announced that its Atlas Air, Inc. unit has entered into a contract with Astral Aviation Limited, a Kenya-based cargo airline, to provide Boeing 747-400 Freighter service.

The contract is for one aircraft under an ACMI (Aircraft, Crew, Maintenance and Insurance) agreement, with service expected to begin in the next few weeks. This is the first 747-400F in Astral Aviation’s global network, and it will provide all-cargo operations between Europe and Africa.

Astral Aviation operates in partnership with UK-based ANA Airline Management Limited. ANA specializes in the development and operation of all-cargo aircraft across a wide range of scheduled routes as well as providing air charter capacity on a worldwide basis to the various airlines it works in partnership with. ANA was founded in 1985 and has offices throughout Europe, Africa and North America.

“We are delighted to add Astral Aviation 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. Astral Aviation, through its affiliation with ANA Airline Management, takes pride in providing reliable, high-quality service and looks forward to expanding its international route network. Africa’s stature in global trade is rapidly increasing, and we look ahead to welcoming both a new customer for Atlas Air and to future opportunities for strategic expansion for both companies.”

Sanjeev Gadhia, CEO of Astral Aviation, said: “We are excited about the prospects for air cargo growth between Africa and Europe, as well as within Africa. The Nairobi hub generates the highest volumes of perishable exports into Europe and combined with the return loads of oil and gas equipment into West Africa, the B747-400F is the perfect freighter.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,810.10 -232.80 -1.37%
S&P 500 1,949.57 -22.72 -1.15%
NASDAQ 4,426.4710 -66.9190 -1.49%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs