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Atlas Air Flies First 747-400 Freighter into New Dubai World Central-Al Maktoum International Airport

Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a leading global provider of air cargo assets and outsourced aircraft operating solutions, today confirmed the successful operation on October 14 of the first scheduled freighter service into the new Dubai World Central (DWC)-Al Maktoum International Airport on behalf of its long-standing ACMI customer, Panalpina Group.

Atlas Air’s Boeing 747-400 freighter flight initiates a new controlled airfreight service by Panalpina. The service will include two weekly flights into Dubai as part of a round-the-world rotation connecting Luxembourg, Dubai, South Africa, Hong Kong, North America and Latin America.

In addition, a second Atlas Air 747-400 freighter is helping Panalpina inaugurate new express service between Huntsville, Ala., and São Paulo, Brazil, enhancing connections between Asia, North America and Latin America.

“We are proud to support our long-term customer and facilitate Panalpina’s growth,” said Michael Steen, Senior Vice President and Chief Commercial Officer of AAWW. “Our industry-leading service enables Panalpina to offer its customers a unique and highly flexible solution for time-definite airfreight.”

According to Claus Schmidt, Panalpina’s Middle East Area Manager, “Our DWC service is a milestone in Panalpina’s growth plans in the region. It links our new Middle East distribution center at DWC with our network in Europe, Africa, Asia and North America. It also allows us to offer our customers fast turnaround times from cargo arrival to delivery.”

A new multi-year ACMI service agreement between Panalpina and Atlas Air, under which Atlas Air operates two 747-400 freighter aircraft for Panalpina, was announced on September 15, 2010, at the 20th anniversary party of Panalpina’s “Dixie Jet” freighter service connecting Huntsville, Ala., with Europe.

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.

The Panalpina Group

The Panalpina Group is one of the world's leading suppliers of forwarding and logistics services, specializing in end-to-end supply chain management solutions and intercontinental air freight and ocean freight shipments. Thanks to its in-depth industry know-how and state-of-the-art IT systems, Panalpina provides globally integrated door-to-door forwarding services tailored to its customers' individual needs. The Panalpina Group operates a close-knit network with some 500 branches in over 80 countries. In a further 80 countries, it cooperates closely with partner companies. Panalpina employs approximately 14,000 people worldwide.

Contacts:

Atlas Air Worldwide Holdings, Inc.
Dan Loh (Investors) – 914-701-8200
Bonnie Rodney (Media) – 914-701-8580

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