Atlas Air, Inc. to Continue Training Air Force One and E-4B Aircrews

Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a leading global provider of air cargo assets and outsourced aircraft operating solutions, today confirmed that the U.S. Air Force will be extending its contract with Atlas Air, Inc. for the flight training of Air Force pilots and flight engineers who fly the VC-25, also known as Air Force One, and the E-4B National Airborne Operations Center through 2011. Atlas Air has been the incumbent sole source provider of this training to Air Force One crews since 2007 and since 2008 for E-4B pilots and flight engineers.

William J. Flynn, President and Chief Executive Officer of Atlas Air Worldwide Holdings, Inc., said, “We are very pleased to continue to provide training for the Air Force’s 747 aircrews who support our national command authorities, performing flight duties around the globe. Our Atlas Air employees are extremely proud to play a role in this mission-critical effort.”

This year, the entire pilot and flight engineer crew force of the Presidential Airlift Group (PAG) and the E-4B National Airborne Operations Center will update and enhance their Boeing 747 skills at Atlas Air’s state-of-the-art facility in Miami, Fla. These dedicated aviators receive the most up-to-date systems and safety training from an experienced and highly qualified cadre of flight instructors. Atlas instructors provide tailored training to crewmembers to help ensure mission success.

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 and aircraft operating solutions 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.