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ATLAS AIR WORLDWIDE HOLDINGS, INC. NAMES MICHAEL STEEN SENIOR VICE PRESIDENT & CHIEF MARKETING OFFICER

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ATLAS AIR WORLDWIDE HOLDINGS, INC. NAMES MICHAEL STEEN SENIOR VICE PRESIDENT & CHIEF MARKETING OFFICER

Friday, March 23, 2007 --   Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a leading provider of global air cargo services, has named Michael T. Steen as Senior Vice President and Chief Marketing Officer, effective April 1, 2007.

Mr. Steen, 40, has extensive experience in air cargo and logistics, having served as Senior Vice President of Sales and Marketing at Exel and Vice President for the Americas for KLM Cargo.

Mr. Steen succeeds the position held by Ronald A. Lane, who has announced he will be retiring at the end of 2007. Mr. Lane will continue as Senior Vice President and special advisor through Dec. 31.

“Michael brings to Atlas Air Worldwide Holdings a background uniquely suited to understanding the challenges of air cargo, logistics and transportation,” said William J. Flynn, President and Chief Executive Officer of AAWW. “His proven leadership and insight will help guide us into an exciting future that includes a strong market for ACMI and the upcoming deliveries of new, next-generation Boeing 747-8 freighters.”

Mr. Steen led the sales and marketing activities for Exel Freight's management and technology sector. Following Exel's acquisition by Deutsche Post World Net, he held senior-level positions with the merged company in global supply chain logistics. As a veteran air cargo executive, he served in a variety of roles with KLM Cargo over 11 years. In addition to Vice President of the Americas, he was head of global sales and marketing for the logistics business unit and Director of Sales for northern Europe.

Mr. Flynn added: “As we welcome Michael, we also thank Ron for his dedicated service to the company and to our customers. He has been instrumental in leading our marketing and sales efforts through challenging periods for our company. We appreciate his leadership and insight in identifying new markets and strategies to position our company for an exciting future to meet the growing needs of our customers, and we look forward to his continued service through the end of the year.”

Reporting to Mr. Flynn, Mr. Steen will be responsible for all aspects of the company's global sales and marketing activities, including strategy, new products and services, brand positioning and marketing communications.

Mr. Steen earned a degree in economic science from Katrinelund in Gothenburg, Sweden, and is an alumnus of the Advanced Executive Program at the Kellogg School of Management at Northwestern University.

About Atlas Air Worldwide Holdings, Inc.

AAWW is the parent company of Atlas Air, Inc. (Atlas) and Polar Air Cargo, Inc. (Polar), which together operate the world's largest fleet of Boeing 747 freighter aircraft.

AAWW, through its principal subsidiaries Atlas and Polar, offers scheduled air cargo service, cargo charters, military charters, and ACMI aircraft leasing in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis.

AAWW's press releases, SEC filings and other information can 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