Atlas Air Worldwide Announces New Contract with Chapman Freeborn

Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) announced today that its Atlas Air, Inc. unit has entered into a contract with Chapman Freeborn Airchartering Ltd. to provide Boeing 747-400 Freighter service.

The contract is for one aircraft under a multiyear Aircraft, Crew, Maintenance and Insurance (ACMI) agreement, with service beginning April 2013. This will be the first dedicated 747-400F in Chapman Freeborn’s network fleet, which regularly includes a large number of various aircraft types under long-term arrangements. Chapman Freeborn first secured a 747-200F under a long-term arrangement in 2009 and has had various other 747 freighters under contract since that time.

“We are delighted that Chapman Freeborn, a leading air charter specialist, has selected Atlas Air to provide it with capacity,” said William J. Flynn, President and Chief Executive Officer, Atlas Air Worldwide. “Chapman Freeborn has been a valued charter customer of ours for more than 12 years, and we appreciate this opportunity to expand the scope of our longtime relationship.”

Chapman Freeborn Chief Executive Officer Russi Batliwala, said, “We are glad to partner with Atlas Air. They share our values and entrepreneurial spirit and are focused on operational excellence, security and outstanding customer service -- as are we.”

About Atlas Air Worldwide:

Atlas Air Worldwide 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). Atlas Air Worldwide also maintains a 49% interest in Global Supply Systems Limited (GSS). Through Atlas and Polar, Atlas Air Worldwide operates the world’s largest fleet of Boeing 747 freighter aircraft.

Atlas, Titan and Polar offer a range of outsourced aircraft and aviation operating solutions that include ACMI service – in which customers receive an aircraft, crew, maintenance and insurance on a long-term basis; CMI service, for customers that provide their own aircraft; express network and scheduled air cargo service; military cargo and passenger charters; commercial cargo and passenger charters; and dry leasing of aircraft and engines.

Atlas Air Worldwide’s press releases, SEC filings and other information can be accessed through the Company’s home page, www.atlasair.com.

About Chapman Freeborn:

Chapman Freeborn was established in the UK in 1973 and the group now comprises of 35 offices in 25 countries around the world.

The company specializes in the charter and lease of fixed-wing and rotary-wing aircraft for a wide ranging client base including international agencies such as major international organizations, NGOs, major corporations, governments, and a host of industries around the globe.

Chapman Freeborn has been voted Air Cargo Charter Broker of the Year at the World Air Cargo Awards for the last six consecutive years. Industry publication Air Cargo News also named the company as its Cargo Charter Broker of the Year 2012.

Chapman Freeborn has over 450 employees worldwide and is currently ranked 32nd in the Sunday Times HSBC Top Track 250 list of Britain’s biggest mid-market private companies.

For more information visit: www.chapman-freeborn.com