Atlas Air and Qantas Extend ACMI Relationship

Atlas Air Worldwide Holdings, Inc. (Nasdaq:AAWW), a leading global provider of outsourced aircraft and aviation operating services, today said that its Atlas Air, Inc. unit and Qantas Airways Ltd. have extended their long-standing ACMI (aircraft, crew, maintenance and insurance) relationship.

Under the terms of the agreement, Atlas Air will continue to operate two Boeing 747-400 freighters in ACMI service for Qantas on trans-Pacific routes linking Australia and Asia with the United States.

“Our renewed agreement builds upon a strong and successful 10-year partnership between Atlas Air and Qantas and will capitalize on the state-of-the-art service solutions provided by our aircraft and crews,” said William J. Flynn, President and Chief Executive Officer of Atlas Air Worldwide. “We look forward to supporting Qantas as it continues to capture market opportunities and enhance its position as a premier international airline.”

“We are delighted to extend our association with Atlas Air and continue the partnerships we have forged with valued customers in China, the USA, Thailand, New Zealand and Australia. Atlas gives us the ability to integrate long-haul freighter aircraft into our fleet and strengthen the reach of our cargo network,” said Alison Webster, Executive Manager, Qantas Freight.    

Mr. Flynn added, “We are an innovative provider of outsourced aircraft and aviation operating services to the global aviation industry. Our freighters, with their superior fuel efficiency, range, capacity and loading capabilities are deployed with respected customers around the world. We are pleased to maintain our established relationship with Qantas.”

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 services 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 Qantas Freight:

Qantas Freight Enterprises is the international and domestic airfreight division of the Qantas Group and employs 1500 staff across the globe.

Qantas Freight markets the freight capacity on Qantas and Jetstar passenger aircraft as well as operating a fleet of eleven dedicated freighters to supplement capacity on key domestic and international routes. This network combined with the strength of Qantas' Emirates partnership and interline agreements gives Qantas Freight significant network reach to more than 480 international and 80 domestic destinations.

As well as being Australia's leading cargo carrier, Qantas Freight is also Australia's leading airfreight cargo terminal operator. Qantas Freight's network of 22 cargo terminals provides ground handling to the Qantas Group and 25 other airlines.