Atlas Air Worldwide Dry-Leasing Subsidiary Titan Aviation Acquires Boeing
Aircraft on Long-Term Lease to AeroLogic GmbH
PURCHASE, N.Y. -- March 11, 2013
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), a leading global provider
of outsourced aircraft and aviation operating solutions, today announced the
acquisition of a Boeing 777 Freighter by its dry-leasing subsidiary, Titan
Aviation. The aircraft is currently on long-term lease to AeroLogic GmbH, a
cargo airline based in Germany and a joint venture of DHL Express and
Lufthansa Cargo AG.
“With the purchase of this 777 freighter, we gain entry into an attractive
aircraft type consistent with our strategy of investing in new technology that
creates superior value for our customers,” said William J. Flynn, President
and Chief Executive Officer, Atlas Air Worldwide.
“This deal represents an important part of our plan to grow Titan’s
dry-leasing platform through selective investments in aircraft with existing
leases that support leading operators in the airfreight industry. While Titan
is principally a cargo aircraft dry lessor, its portfolio includes passenger
narrow-body aircraft, engines and related equipment. It also provides
customers expertise in asset management, passenger-to-freighter conversion,
and other technical services.”
Norddeutsche Landesbank Girozentrale (NORD/LB), a leading aircraft financier
based in Hanover, Germany, provided financing for the 2010 vintage aircraft.
AeroLogic GmbH was founded in September 2007 with headquarters in
Schkeuditz/Leipzig, Germany. The AeroLogic fleet is composed of eight Boeing
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 solutions 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.
Atlas Air Worldwide Holdings, Inc.
Bonnie Rodney, 914-701-8580
Dan Loh, 914-701-8200
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