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Atlas Air Announces Planned Expansion into Outsourced Passenger Aircraft Operations

Dépèche transmise le 23 octobre 2009 par Business Wire

PURCHASE, N.Y.--(BUSINESS WIRE)--Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a leading provider of global outsourced aircraft services, announced today that its Atlas Air unit has been selected to operate an outsourced premium passenger private charter service for the U.S.-Africa Energy Association (USAEA). The Agreement to operate the charter was reached with SonAir - Serviço Aéreo, S.A. (SonAir), acting as agent for the USAEA.

Atlas will operate the charter service with two newly customized Boeing 747-400 aircraft provided by SonAir’s parent company, which are being reconfigured into largely business and executive class configuration. The charter service, which has become known as the “Houston Express,” includes three dedicated weekly non-stop flights between Houston and Luanda, Angola. While it is not open to the public, it provides USAEA members with a premium non-stop transportation link to support complex long-term projects in the West African energy sector.

The parties have structured the long-term commercial arrangement in a manner consistent with the outsourcing business model under which Atlas Air typically operates. Under that model, Atlas Air receives contractually determined revenues for the operation of the aircraft, with the customer assuming responsibility for passenger revenue and certain direct costs, including fuel.

“Atlas Air, Inc. is proud and honored to have been selected to operate these newly customized Boeing 747-400 passenger aircraft,” said William J. Flynn, President & CEO, Atlas Air Worldwide Holdings, Inc. “Our dedication to our customers and record of reliability and operational excellence as the largest Boeing 747-400 freighter provider in the world have set the stage for this next and important step for our company into outsourced, charter passenger service. We look forward to working closely and cooperatively with SonAir to make the Houston Express a world-class service.”

SonAir is a wholly owned subsidiary of Sonangol Group, the multinational energy company of Angola and a member of the USAEA. USAEA’s members include many of the leading U.S. energy companies involved in the exploration and development of petroleum resources in West Africa.

About Atlas Air Worldwide Holdings, Inc.:

AAWW is the parent company of Atlas Air, Inc. (Atlas) and Titan Aviation Leasing Limited (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 services that include ACMI aircraft leasing – in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis – 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.