Atlas Air Worldwide Holdings Promotes Spencer Schwartz to Chief

  Atlas Air Worldwide Holdings Promotes Spencer Schwartz to Chief Financial
  Officer

Business Wire

PURCHASE, N.Y. -- June 09, 2010

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 Spencer Schwartz to Senior Vice President and
Chief Financial Officer. He succeeds Jason Grant, who is leaving the Company
on June 18 for a new career opportunity with a private company in the domestic
maritime shipping industry. Mr. Grant will be available to assist in
transition matters as needed.

Mr. Schwartz joined AAWW as Vice President and Controller in 2008. He is a
certified public accountant with broad experience in financial management,
risk analysis, strategic planning, accounting, budgeting, forecasting,
financial analysis, auditing, tax and related disciplines.

Prior to joining AAWW, Mr. Schwartz was employed for more than 12 years by
MasterCard Incorporated, where he served as Vice President of Taxation; Senior
Vice President, Corporate Controller and Chief Accounting Officer; Senior Vice
President and Business Financial Officer; and Group Head of Global Risk
Management. He previously held positions of increasing responsibility with
Price Waterhouse LLP (now PricewaterhouseCoopers LLP) and Carl Zeiss, Inc. Mr.
Schwartz earned an MBA from New York University’s Stern School of Business and
holds a bachelor’s degree in accounting from The Pennsylvania State
University.

“Spencer’s strong financial and accounting background and his business acumen
have been important assets to our Company,” said William J. Flynn, President
and Chief Executive Officer of AAWW. “I look forward to working with Spencer
in his expanded role as we continue to transform our business to manage risk,
improve profitability, and position the Company for continued growth in 2010
and beyond.

“As we congratulate Spencer on his promotion, we also wish Jason well in his
new opportunity,” Mr. Flynn added. “Jason is a proven executive, and he has
helped us effectively manage complex financial issues while we have improved
our profitability and grown our business. He has assembled a strong,
experienced, and deeply knowledgeable finance and accounting team that is
highly involved in our business and that will ensure a smooth and seamless
transition.”

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

Contact:

Atlas Air Worldwide Holdings, Inc.
Dan Loh, 914-701-8200
 
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