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ATLAS AIR WORLDWIDE HOLDINGS, INC. PROMOTES JASON GRANT TO SENIOR VICE PRESIDENT, NETWORK PLANNING AND BUSINESS DEVELOPMENT

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ATLAS AIR WORLDWIDE HOLDINGS, INC. PROMOTES JASON GRANT TO SENIOR VICE PRESIDENT, NETWORK PLANNING AND BUSINESS DEVELOPMENT

Friday, March 23, 2007 --   Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a leading provider of global air cargo services, today announced the promotion of Jason Grant to Senior Vice President, Network Planning and Business Development.

In this new position, Mr. Grant will employ his background in corporate finance, continuous improvement and corporate strategy to identify and implement initiatives to drive earnings through network optimization and yield management as well as to lead the company's strategic business developments. He will report to William J. Flynn, President and Chief Executive Officer of AAWW.

Mr. Grant has served as Vice President of Continuous Improvement since last year.

“Jason is an outstanding leader with proven results and a fundamentally solid understanding of our company, our business and the needs of our customers,” Mr. Flynn said. “Under his leadership, continuous improvement initiatives accounted for more than $22 million in savings in 2006, including nearly $14 million in the second half of 2006. In his new position, Jason will have the opportunity to apply his previous success to a role that will help define our future.”

Mr. Grant joined the company in 2002 as Manager of Corporate Finance. He has served as Director of Corporate Finance and Vice President of Financial Planning and Analysis before being named to lead continuous improvement.

He came to the company from American Airlines, where he was a Manager of Financial Planning and Financial Analysis. Mr. Grant holds a bachelor's degree in business administration from Wilfrid Laurier University and a master's degree from Simon Fraser University in Canada.

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