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ATLAS AIR ACHIEVES GLOBALLY RECOGNIZED SAFETY BENCHMARK

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ATLAS AIR ACHIEVES GLOBALLY RECOGNIZED SAFETY BENCHMARK

Wednesday, July 9, 2008 --   Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW) today announced that its subsidiary, Atlas Air, Inc., has achieved a globally recognized safety and quality standard following a stringent audit of its operational standards and procedures.

By completing the International Air Transport Association's Operational Safety Audit (IOSA), Atlas Air continues to demonstrate an international and industry-leading commitment to safety.

“Our inclusion in the IOSA registry is a further acknowledgement that our operations rank with those of the best air carriers in the world,” said William J. Flynn, President and Chief Executive Officer of AAWW. “Our customers also benefit from this achievement as they will be able to take advantage of our IOSA registration without having to conduct separate safety and quality audits of their own, therefore saving them time and reducing their costs.”

Atlas Air received the IOSA registration as part of its membership in IATA following a series of stringent audits by an IATA-accredited auditor. It is valid until November 2009, and is renewable thereafter every two years subject to future audits.

The audit covers key areas of Atlas Air's operations: corporate organization and management structure; flight operations; flight dispatch; aircraft engineering and maintenance; ground handling; cargo operations; and airline security.

About Atlas Air Worldwide Holdings, Inc.:

AAWW, a leading provider of global air cargo assets and services, 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 - military charters, commercial cargo 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