Atlas Air Worldwide Places Eighth Boeing 747-8 Freighter Into ACMI Service
Contract for Additional Aircraft Expands Relationship with Etihad Airways
PURCHASE, N.Y.--(BUSINESS WIRE)-- Atlas Air Worldwide Holdings, Inc. (NAS: AAWW) , a leading global provider of outsourced aircraft and aviation operating solutions, today confirmed the placement of its eighth Boeing 747-8 Freighter into ACMI service.
The aircraft will fly on behalf of Etihad Cargo, the cargo arm of Etihad Airways, the national carrier of the United Arab Emirates, pursuant to a multiyear aircraft, crew, maintenance and insurance agreement that commences in May 2013.
The new contract between the companies follows a letter of intent announced on April 1, 2013, and complements an existing Boeing 747-400F ACMI arrangement between Atlas and Etihad. The aircraft will be operated in full Etihad Cargo livery.
"We're pleased to expand our relationship with Etihad Cargo and help it extend its reach with next-generation performance in payload, fuel efficiency and total cost per tonne-mile," said William J. Flynn, President and Chief Executive Officer, Atlas Air Worldwide. "Together with our global operations and our reliable, high-quality service, Etihad now has additional flexibility to take advantage of market opportunities."
James Hogan, Etihad Airways President and Chief Executive Officer, said: "Cargo is one of our key strategic pillars and a growing part of the business. In 2012, it delivered tonnage growth of 19 percent on the back of a capacity increase of 14 percent in available tonnage kilometres.
"This deal with Atlas for a Boeing 747-8 Freighter reinforces our ability to serve a growing number of customers from around the globe.
"As we continue to add depth and scale to our cargo operations we look forward to fully leveraging the aircraft's capability and efficient cost base to grow our reach, and facilitate global trade into, out of, and through the UAE."
Atlas is the only ACMI provider in the world to offer the Boeing 747-8F aircraft to its customers.
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.
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 percent of airberlin, Europe's sixth largest airline, and 40 percent of Air Seychelles. For more information, please visit: www.etihad.com.
Atlas Air Worldwide Holdings, Inc.
Bonnie Rodney, 914-701-8580
Dan Loh, 914-701-8200
KEYWORDS: United States North America New York
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