|Atlas Air Worldwide Places Two New Boeing 747-8F Aircraft with Panalpina|
Thursday, September 15, 2011 -- Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), a leading global provider of outsourced aircraft and aviation operating services, today said that it has placed two new Boeing 747-8 freighter aircraft with Panalpina.
Under this multi-year aircraft, crew, maintenance and insurance (ACMI) outsourcing contract, Panalpina - a longtime customer - will benefit from leading-edge technology. The new-production aircraft, to be operated by Atlas Air, Inc., are scheduled to be delivered in the first half of 2012 and will enter service for Panalpina upon delivery.
Atlas Air Worldwide is the only ACMI operator able to offer the new 747-8F to its customers. The aircraft is expected to deliver improved, next-generation performance in terms of payload, fuel efficiency, total cost per tonne-mile and environmental compliance.
“We are delighted to provide Panalpina, one of our most long-standing customers, with the industry's newest freighter,” said William J. Flynn, President and Chief Executive Officer.
“These new aircraft will give Panalpina increased capacity and revenue-generating capability in a growing global airfreight market, while improving fuel economy. We are proud to facilitate Panalpina's continuing growth by providing industry-leading service that enables Panalpina to offer its customers a unique and highly flexible solution for time-definite airfreight.”
The Boeing 747-8 freighter, 5.6 meters (18.3 ft) longer than the 747-400 freighter, is expected to be the largest, most-efficient, long-haul heavy freighter in the market. The 747-8F is expected to provide 16 percent more revenue cargo volume compared with the benchmark 747-400F. The additional 120 cubic meters (4,245 cubic ft) of volume afforded by the longer fuselage offers space for four additional main-deck pallets and three additional lower-hold pallets. For maximum speed and efficiency, cargo on the 747-8F can be loaded and unloaded using both the nose and side doors.
“Panalpina looks forward to experiencing the benefits of the latest freighter technology,” said Karl Weyeneth, Chief Operating Officer of the Panalpina Group. “This is a significant development in our long and profitable relationship with Atlas Air and it demonstrates Atlas Air's ability to provide leading-edge services that add value and benefit for our customers throughout our global network.”
The new aircraft will operate in Panalpina's unique own controlled air freight network, which serves key customers in industries that include Healthcare, Consumer and Retail, Oil and Gas, Automotive, and Hi-Tech. The “Dixie Jet” service launched in 1990 is part of this own controlled network.
“Our customers are growth-oriented market leaders, with a strategic focus on cargo,” Mr. Flynn said.
“The global scale and scope of our aircraft and aviation operating services enable our customers to effectively expand their capacity and operations, and to capitalize on market opportunities around the world without having to wait for new production freighters to be built or having to commit their balance sheets to new aircraft purchases.
“Our customers also benefit from the additional reliable solutions that we provide, including inter-operable crews, flight scheduling, fuel-efficiency planning, and maintenance-spare coverage.”
Panalpina is the second Atlas Air customer to enter into a long-term ACMI agreement for the new 747-8F aircraft.
About Atlas Air Worldwide:
Atlas Air Worldwide (AAWW) 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). Through Atlas and Polar, AAWW 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 charters; commercial cargo charters; and dry leasing of aircraft and engines.
AAWW's press releases, SEC filings and other information may be accessed through the Company's home page, www.atlasair.com.
The Panalpina Group:
The Panalpina Group is one of the world's leading providers of supply chain solutions, combining intercontinental Air and Ocean Freight with comprehensive Value-Added Logistics Services and Supply Chain Services. Thanks to its in-depth industry know-how and customized IT systems, Panalpina provides globally integrated end-to-end solutions tailored to its customers' supply chain management needs. The Panalpina Group operates a global network with some 500 branches in more than 80 countries. In a further 80 countries, it cooperates closely with partner companies. Panalpina employs approximately 15,000 people worldwide.
This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect AAWW'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 AAWW 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 AAWW'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 AAWW with the Securities and Exchange Commission on February 14, 2011. 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.
AAWW 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.