Atlas Air and Polar Air Cargo Granted Preliminary Injunction

International Brotherhood of Teamsters Ordered to Stop Illegal Work Slowdown

Atlas Air, Inc. and Polar Air Cargo Worldwide, Inc., subsidiaries of Atlas Air Worldwide Holdings (Nasdaq: AAWW), today learned that their (collectively, "Atlas" or the "Company") request for a preliminary injunction against the International Brotherhood of Teamsters, the International Brotherhood of Teamsters, Airline Division, and Local Union No. 1224 (collectively, the "IBT") has been granted.

The decision by the U.S. District Court for the District of Columbia requires the IBT to meet its obligations under the Railway Labor Act ("RLA") and stop its illegal and intentional work slowdown.

In granting the Company's request, the Court further ordered the IBT to take affirmative action to prevent and to refrain from continuing any form of interference with the Company's operations or any other concerted refusal to perform normal pilot operations consistent with the status quo, in violation of the RLA.

The Company continues to negotiate with the IBT for a joint contract for Atlas and Southern Air crewmembers in connection with the pending merger. The Company remains committed to completing the bargaining process in a timely manner and in the best interests of all parties.