Atlas Air Worldwide Holdings, Inc. Promotes Chief Commercial Officer Michael T. Steen to Executive Vice President

Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a leading global provider of air cargo assets and outsourced aircraft operating solutions, today announced the promotion of Michael T. Steen to Executive Vice President, effective December 1, 2010. In addition to his promotion, he will continue to serve as AAWW’s Chief Commercial Officer.

Mr. Steen oversees all aspects of the Company's global sales and marketing activities, including strategy, new products and services, brand positioning and marketing communications. He joined the Company in April 2007.

“Under Michael’s effective leadership, he and his team solidified our relationships with our valued business partners including helping Atlas grow its revenue even during global economic challenges, established long-term contracts with new customers for both ACMI and CMI placements and delivered creative solutions to the charter and military markets,” said William J. Flynn, President and Chief Executive Officer of AAWW.

“Michael has worked as a key member of our team over the past three and a half years to transform AAWW into the strong company it is today. I am delighted his work is being recognized with this promotion, and I look forward to collaborating with him as we continue to strengthen our market leadership, deliver innovative, value-added services to our global customers, and grow our business and stockholder value,” continued Flynn.

Mr. Steen has extensive experience in air cargo and logistics. Before joining AAWW, he served as Senior Vice President of Sales and Marketing for EXEL Freight Management and Technology Sector and prior to that as Vice President for the Americas for KLM Cargo.

Mr. Steen earned a degree in economic science from Katrinelund in Gothenburg, Sweden, and is an alumnus of the Advanced Executive Program at the Kellogg School of Management at Northwestern University. He currently serves as Vice Chairman of The International Air Cargo Association (TIACA) and will assume the Chairmanship in April 2011.

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 can be accessed through the Company’s home page, www.atlasair.com.