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Atlas Air Worldwide Appoints Michael T. Steen President and Chief Executive Officer, Titan Aviation Holdings

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Atlas Air Worldwide Appoints Michael T. Steen President and Chief Executive Officer, Titan Aviation Holdings

Thursday, October 9, 2014 --   Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today announced the appointment of Michael T. Steen as President and Chief Executive Officer of the company's wholly owned dry-leasing subsidiary, Titan Aviation Holdings, Inc., effective October 15, 2014. Mr. Steen will continue in his current role as Executive Vice President and Chief Commercial Officer of the parent holding company and Atlas Air, Inc., reporting to William J. Flynn, Atlas Air Worldwide's President and Chief Executive Officer.

Mr. Steen's promotion signifies the growing importance of Titan Aviation Holdings and Atlas' freighter-centric dry-leasing business. With aircraft valuing about US$1.5 billion, Titan is ranked by Airline Business in the top 40 global aircraft leasing companies by total asset value and is recognized as one of the leading freighter-focused leasing companies.

Mr. Flynn said, “One of our long-term strategic objectives is to grow and develop our Titan dry-leasing business, which includes one of the world's larger portfolios of Boeing 777 freighters.

“Michael is a highly respected thought leader in the fields of air cargo, aviation and the global supply chain. Since joining Atlas in 2007, he has transformed our commercial strategy by creating innovative and diversified business offerings that have added value to our customers, improved their operations and bottom lines, and been instrumental in diversifying and expanding Atlas Air Worldwide's position in the market. I am confident that, under Michael's leadership, Titan will play an even larger role in the dry-leasing space.”

Mr. Steen will retain responsibility for all aspects of the parent holding company's global sales and marketing activities, including strategy, new products and services, brand positioning and marketing communications.

Mr. Steen has gained both broad and unique experience during his career in the aviation and logistics sectors. He has served in global leadership roles for market-leading companies.

Before joining Atlas, he was Senior Vice President of Sales and Marketing for Exel Freight 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.

Prior to joining Exel, Michael served in a variety of leadership 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. Steen earned a degree in economics from Katrinelund in Gothenburg, Sweden, and is an alumnus of the Advanced Executive Program at the Kellogg School of Management at Northwestern University. He is currently a board member of The International Air Cargo Association having served as its chairman from 2010 to 2013.

About Atlas Air Worldwide:

Atlas Air Worldwide is the parent company of Atlas Air, Inc. (Atlas) and Titan Aviation Holdings, Inc. (Titan), and is the majority shareholder of Polar Air Cargo Worldwide, Inc. (Polar). Through Atlas and Polar, Atlas Air Worldwide operates the world's largest fleet of Boeing 747 freighter aircraft.

Atlas, Titan and Polar offer a range of outsourced aircraft and aviation operating services that include ACMI service - in which customers receive an aircraft, crew, maintenance and insurance on a long-term basis; CMI service, for customers that provide their own aircraft; express network and scheduled air cargo service; military cargo and passenger charters; commercial cargo and passenger charters; and dry leasing of aircraft and engines.

Atlas Air Worldwide'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