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

PURCHASE, N.Y., May 03, 2017 -- 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