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Atlas Air Worldwide Announces New ACMI Contract with Etihad Airways

  Atlas Air Worldwide Announces New ACMI Contract with Etihad Airways

  Adds Premier Customer; New 747-400 Freighter Service to GrowEtihad Cargo’s
                              Long-Haul Network

Business Wire

PURCHASE, N.Y. -- May 03, 2012

Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), a leading global provider
of outsourced aircraft and aviation operating services, announced today that
its Atlas Air, Inc. unit has entered into a contract with Etihad Airways, the
national carrier of the United Arab Emirates, to provide Boeing 747-400
Freighter service for Etihad Cargo.

The contract is for one aircraft under a multiyear Aircraft, Crew, Maintenance
and Insurance (ACMI) agreement, with service beginning in June 2012. This will
be the first 747-400F in Etihad Cargo’s global network and it will link Asia,
Africa, Europe and other global trade lanes with Etihad Airways’ hub in Abu
Dhabi.

“We are delighted to add Etihad Airways to our portfolio of ACMI customers,”
said William J. Flynn, President and Chief Executive Officer, Atlas Air
Worldwide. “Atlas Air has the largest and most modern fleet in our industry,
with a mix of cargo and passenger aircraft, serving customers who are leaders
in their markets. Etihad Airways takes pride in providing reliable,
high-quality service across its expanding international route network. We look
forward to welcoming not only a new customer for Atlas Air, but also future
opportunities for strategic expansion for both companies.”

James Hogan, Etihad Airways President and Chief Executive Officer, said: “In
Atlas Air, we have found a first-rate partner focused on operational
excellence, security and outstanding customer service. We look forward to a
rewarding relationship that leverages each of our expertise to grow global
trade.”

David Kerr, Etihad Airways Vice President Cargo, added: “We are strongly
committed to building our presence in the cargo sector and to serving the
growing demand from our customers around the world. We have the fortune of
geography and being able to bridge many of the trade flows from producer to
consumer markets.”

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 Etihad Airways:

Etihad Airways, the national airline of the United Arab Emirates, began
operations in 2003, and in 2011 carried 8.3 million passengers. From its hub
at Abu Dhabi International Airport, Etihad Airways serves 84 passenger and
cargo destinations in the Middle East, Africa, Europe, Asia, Australia and
North America, with a fleet of 66 Airbus and Boeing aircraft, and 100 aircraft
on order, including 10 Airbus A380s, the world’s largest passenger aircraft.
Etihad Airways also owns nearly 30 per cent of airberlin, Europe’s sixth
largest airline, and 40 per cent of Air Seychelles. For more information,
please visit: www.etihad.com.

This release contains “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995 that reflect Atlas Air
Worldwide’s current views with respect to certain current and future events
and financial performance. Such forward-looking statements are and will be, as
the case may be, subject to many risks, uncertainties and factors relating to
the operations and business environments of Atlas Air Worldwide and its
subsidiaries (collectively, the “companies”) that may cause the actual results
of the companies to be materially different from any future results, express
or implied, in such forward-looking statements.

Factors that could cause actual results to differ materially from these
forward-looking statements include, but are not limited to, the following: the
ability of the companies to operate pursuant to the terms of their financing
facilities; the ability of the companies to obtain and maintain normal terms
with vendors and service providers; the companies’ ability to maintain
contracts that are critical to their operations; the ability of the companies
to fund and execute their business plan; the ability of the companies to
attract, motivate and/or retain key executives and associates; the ability of
the companies to attract and retain customers; the continued availability of
our wide-body aircraft; demand for cargo services in the markets in which the
companies operate; economic conditions; the effects of any hostilities or act
of war (in the Middle East or elsewhere) or any terrorist attack; labor costs
and relations; financing costs; the cost and availability of war risk
insurance; our ability to maintain adequate internal controls over financial
reporting; aviation fuel costs; security-related costs; competitive pressures
on pricing (especially from lower-cost competitors); volatility in the
international currency markets; weather conditions; government legislation and
regulation; consumer perceptions of the companies’ products and services;
anticipated and future litigation; and other risks and uncertainties set forth
from time to time in Atlas Air Worldwide’s reports to the United States
Securities and Exchange Commission.

For additional information, we refer you to the risk factors set forth under
the heading “Risk Factors” in the Annual Report on Form 10-K filed by Atlas
Air Worldwide with the Securities and Exchange Commission on February 15,
2012. Other factors and assumptions not identified above may also affect the
forward-looking statements, and these other factors and assumptions may also
cause actual results to differ materially from those discussed.

Atlas Air Worldwide assumes no obligation to update such statements contained
in this release to reflect actual results, changes in assumptions or changes
in other factors affecting such estimates other than as required by law.

Contact:

For Atlas Air Worldwide Holdings, Inc.
Media
Bonnie Rodney, 914-701-8580
or
Investors
Dan Loh, 914-701-8200
 
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