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Atlas Air Worldwide Holdings, Inc. Celebrates 15th Anniversary of Atlas Air, Inc.

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Atlas Air Worldwide Holdings, Inc. Celebrates 15th Anniversary of Atlas Air, Inc.

Wednesday, February 27, 2008 --   Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a leading provider of global air cargo services, on February 23 celebrated the 15th anniversary of the operations of its flagship brand, Atlas Air, Inc.

William J. Flynn, President and CEO, AAWW, said, “In a remarkably short period of time, Atlas Air has defined an industry and seen it flourish. On this 15th anniversary of our flagship brand, we are reminded of the vision of the Company's founder, Michael Chowdry, who understood what potential air cargo customers would need to grow their businesses, and how to best serve them. By taking advantage of the Company's services, Atlas customers have grown with the world's cargo markets, expanding their fleets with flexible and efficient outsource capacity.”

Atlas Air began operations in 1993 with one Boeing 747 contracted by China Airlines. The Company supported its rapidly-growing customer base by developing the ACMI business model that provides its customer airlines access to new production freighters that deliver the highest reliability and lowest unit cost in the marketplace, combined with outsourced aircraft operating services that lead the industry in terms of quality and global scale.

In just 15 years, Atlas has grown to serve customers in over 100 countries and 300 cities. As Atlas Air has grown, so too has parent company AAWW, into what is now a leader in the world's heavy lift air cargo market. Together with Polar Air Cargo, which AAWW acquired in 2001, AAWW has a fleet of 37 B747 freighter aircraft and offers its customers a range of air cargo products and related services including ACMI leasing, dry leasing, charter services, a global scheduled service network, and, through Atlas Air, is a significant provider of airlift capacity to the Air Mobility Command.

Mr. Flynn said, “Our founding principle was to provide solutions to our customers to enable their business strategies. Today, AAWW is expanding on this vision, providing solutions that transform our customers' businesses. We look forward to leveraging our strong business and operating model, and our investment in market-leading B747-8 freighters will further develop the global air freight market.”

Continued Mr. Flynn, “We are pleased to celebrate our flagship brand's 15 successful years, and proud of AAWW's role in facilitating global trade and commerce, and for offering new opportunities to our customers.”

Mr. Flynn and Jason Grant, Senior Vice President and Chief Financial Officer, AAWW, will host a conference call to discuss AAWW's fourth-quarter and full-year 2007 results at 9:00 A.M. Eastern time on February 27, 2008. Interested parties are invited to listen to the call live over the Internet at www.atlasair.com.

About Atlas Air Worldwide Holdings, Inc.:

AAWW is the parent company of Atlas Air, Inc. (Atlas) and 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 and Polar offer a range of air cargo services that include ACMI aircraft leasing—in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis—commercial cargo charters, military charters, scheduled air cargo service (including express network service for DHL Express later in 2008), and dry-leasing of aircraft.

AAWW's press releases, SEC filings and other information may be accessed through the Company's home page, www.atlasair.com.

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For more information, please contact:
Dan Loh
E-mail: Dan.Loh@atlasair.com