Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a leading provider of global air cargo services, today announced that Polar Air Cargo Worldwide, Inc. (Polar) will begin service into Osaka’s Kansai International Airport from Chicago O’Hare International Airport, effective February 21, 2008. Polar will operate five times weekly between Chicago and Osaka using B747-400 freighter equipment. This new service will also provide connections from Osaka to Shanghai, as well as connecting Osaka with Polar’s U.S. destinations and the fast growing South American region.
Osaka has become an important Asian hub, with approximately 500 weekly flights to Asia, 70 weekly flights to Europe and the Middle East, and 40 weekly flights to North America. Now offering the benefit of 24-hour service and a newly-opened second runway, Osaka offers Polar efficiency and convenience as it continues to build its operations in Asia.
Polar announced it would expand its operations in Japan following the conclusion of the U.S.-Japan bilateral civil aviation negotiations in September. In addition to its existing five frequencies to Tokyo with service beyond to Seoul, South Korea, Polar was granted another six frequencies to Japan, excluding Tokyo, and the right to fly beyond this new point in Japan to two points. In this, Polar was given latitude in choosing the new destination in Japan, as well as the two points outside of the country. Polar chose to commence service into Osaka with Shanghai selected as the beyond point.
About Polar Air Cargo Worldwide, Inc.
Polar is a global leader in the international air cargo market, specializing in time-definite, airport-to-airport scheduled freight service. The company provides a critical link in the international logistics chain by connecting major cargo markets in the Americas, Asia, Europe and the Far East via frequent Boeing 747 freighter service, the best freighter for long- haul payloads and flights intra-Asia. Polar will also deliver a strong express network through its partnership with DHL Express, which owns a 49% stake in Polar. Polar is 51% owned by Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), and is based in Purchase, New York.
Regina Milano, 914-701-8417
Dan Loh, 914-701-8210