Atlas Air Worldwide Places Two 747-8 ACMI Freighters with Cathay Pacific Cargo

Atlas Air Worldwide Places Two 747-8 ACMI Freighters with Cathay Pacific Cargo

PURCHASE, N.Y., May 03, 2017 (GLOBE NEWSWIRE) -- Atlas Air Worldwide Holdings,
Inc.  (Nasdaq:AAWW)  today  announced  the  placement  of  two  Boeing   747-8 
Freighters into  ACMI  service for  Cathay  Pacific Cargo,  a  leading  global 
airline based in Hong Kong.

Both 747-8 Freighters  will be operated  by Atlas  Air, Inc. and  will fly  on 
behalf of  Cathay  Pacific  Cargo  through  aircraft,  crew,  maintenance  and 
insurance agreements. The new 747-8F service is scheduled to begin in May, and
will be deployed  to supplement  capacity on Cathay  Pacific Cargo’s  existing 
network.

“Cathay Pacific is a prominent global airline and a standout performer in  the 
airfreight market,”  said  William J.  Flynn,  President and  Chief  Executive 
Officer, Atlas Air Worldwide.

“We are delighted to work with  Cathay Pacific’s cargo division to  facilitate 
the strong growth of its global network, and we look forward to supporting our
customer as it takes advantage of market opportunities.”

Cathay Pacific Director  Cargo Simon Large  said: “This agreement  underscores 
the strength  of  our cargo  operations  and  our commitment  to  enhance  the 
frequency of our  services across our  expanding global network.  We are  very 
pleased  to  be  able  to  provide  our  customers  with  increased   options, 
flexibility and  convenience  and  look  forward  to  developing  a  long-term 
partnership with Atlas Air Worldwide.”

About Atlas Air Worldwide:

Atlas Air Worldwide is  a leading global provider  of outsourced aircraft  and 
aviation operating services.  It is  the parent  company of  Atlas Air,  Inc., 
Southern Air Holdings,  Inc. and  Titan Aviation  Holdings, Inc.,  and is  the 
majority shareholder of Polar Air Cargo Worldwide, Inc. Our companies  operate 
the world's largest fleet  of 747 freighter aircraft  and provide customers  a 
broad array  of Boeing  747, 777,  767,  757 and  737 aircraft  for  domestic, 
regional and international applications.

Atlas Air Worldwide’s press releases, SEC filings and other information may be
accessed through the company’s home page, www.atlasair.com.

About Cathay Pacific Cargo:

Cathay Pacific Cargo is one of  the leading international air cargo  carriers. 
Using a  dedicated fleet  of  21 Boeing  747  freighters, including  14  747-8 
freighters, to over 47 freighter destinations worldwide, Cathay Pacific  Cargo 
also utilises  cargo space  on  Cathay Pacific’s  124 passenger  aircraft  and 
Cathay Dragon’s 43 passenger aircraft, serving a growing global route  network 
from its Hong Kong  home. Cathay Pacific’s  cargo business currently  accounts 
for around 24% of its annual revenues, and has helped to build Hong Kong  into 
the  world’s   busiest   air   cargo  hub.   For   more   information,   visit 
www.cathaypacificcargo.com.

Contacts: 
Beth Roach (Media) – (914) 701-6576
Dan Loh (Investors) – (914) 701-8200

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