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ATLAS AIR WORLDWIDE HOLDINGS ANNOUNCES MANAGEMENT APPOINTMENTS FOR POLAR AIR CARGO WORLDWIDE

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ATLAS AIR WORLDWIDE HOLDINGS ANNOUNCES MANAGEMENT APPOINTMENTS FOR POLAR AIR CARGO WORLDWIDE

Monday, July 16, 2007 --   Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a leading provider of global air cargo services, today announced two leadership appointments for its subsidiary, Polar Air Cargo Worldwide, Inc. (Polar).

Former DHL Express executive Randy Clark has been named Chief Operating Officer for Polar following the recent strategic transaction with DHL Express that includes the acquisition of an equity stake in Polar and a 20-year commercial arrangement. Olivier Alexandroff, formerly Vice President of Controlling for DHL Express U.S., was named Chief Financial Officer for Polar.

“As part of DHL Express's equity stake in Polar Air Cargo Worldwide, we welcome Randy and Olivier, who are transitioning to Polar to support the success of this strategic partnership,” said William J. Flynn, President and Chief Executive Officer of AAWW. The appointments took effect shortly after the closing of the transaction.

Clark, who will be responsible for managing the day-to-day activities of Polar after its blocked-space agreement with DHL Express starts, has served as Executive Vice President of Sales, Americas for DHL's Global Customer Solutions (GCS) organization. His responsibilities with the company have included new business acquisition, marketing, product development, business planning and sales strategy for DHL Express in the United States.

Prior to joining DHL, he was Chief Operating Officer for Circle International, one of the largest global freight forwarders. Before that, he had over 18 years of additional forwarding experience, including senior level sales, operations and logistics positions at Emery Worldwide.

Clark will be based in Purchase, N.Y., reporting to Flynn.

As Chief Financial Officer for Polar, Alexandroff will be responsible for the financial management of the blocked-space agreement with DHL Express after it begins. He also will oversee contract management, investment appraisals, financial analysis and support reporting for commercial opportunities. Based in Purchase, he will have a joint reporting relationship with Michael L. Barna, Senior Vice President and Chief Financial Officer of AAWW, and Clark.

About Atlas Air Worldwide Holdings, Inc.

AAWW is the parent company of Atlas Air, Inc. (Atlas) and 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