Atlas Air Worldwide Holdings Launches Dreamlifter Flight Service for Boeing

Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a leading provider of global air cargo assets and outsourced aircraft operating solutions, today said that its Atlas Air unit has launched Dreamlifter fleet service for Boeing (NYSE: BA) pursuant to a previously announced nine-year agreement that significantly expands Atlas Air’s outsourced CMI (crew, maintenance, and insurance) service offering. The service will provide key supply-chain support for the production of Boeing’s new commercial jetliner, the 787 Dreamliner.

Starting with its inaugural Dreamlifter flight from Wichita, Kans., to Everett, Wash., on July 20, Atlas Air will commence operation of the remainder of Boeing’s Dreamlifter fleet of four 747-400 aircraft during the balance of 2010. The Dreamlifter aircraft have been specially modified by Boeing to transport major assemblies for its 787 Dreamliner from suppliers around the world to Boeing production facilities in the United States.

“The first flight of our new Dreamlifter fleet service for Boeing marks an exciting start to a long-term partnership with the world’s leading aerospace company,” said William J. Flynn, President and Chief Executive Officer of Atlas Air Worldwide Holdings, Inc. “Together with Boeing, we have worked very closely in preparing for the initiation of our new service, and we look forward to providing world-class Dreamlifter service to Boeing as it ushers in a new era in air travel with the first all-new jet airplane of the 21st century.

“Atlas Air is a global leader in innovative, outsourced aviation solutions. We deliver value-added services, reliability and superior performance to our customers, and we have played an integral role in defining and shaping the outsourced aviation solutions market since we began operations in 1993. Both our freighter leasing and CMI service solutions enable our customers to quickly and efficiently expand their capacity and operations, and capitalize on strategic growth opportunities.”

About Atlas Air Worldwide Holdings, Inc.:

AAWW 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, AAWW operates the world’s largest fleet of Boeing 747 freighter aircraft.

Atlas, Titan and Polar offer a range of air cargo services that include ACMI aircraft leasing – in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease 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.

AAWW’s press releases, SEC filings and other information may be accessed through the Company’s home page, www.atlasair.com.