Atlas Air Worldwide Announces New Contract with FedEx

Atlas Air Worldwide Holdings, Inc. (Nasdaq:AAWW) today announced that it has entered into a five-year agreement with FedEx Express to provide it with five 747-400 freighter aircraft for peak flying seasons beginning in 2017 and lasting through 2021. Peak season flying generally occurs in the month of December and potentially earlier. An agreement to provide five aircraft for the 2016 peak season flying is already in place.

“We have worked closely and successfully with FedEx for many years, but this is our first agreement that allows both companies to plan for the longer term,” said William J. Flynn, President and Chief Executive Officer. “We are excited to continue to serve FedEx and its customers.”

About Atlas Air Worldwide:

Atlas Air Worldwide is a leading global provider of outsourced aircraft and aviation operating services. It is the parent company of Atlas Air, Inc., Southern Air Holdings, Inc. and Titan Aviation Holdings, Inc., and is the majority shareholder of Polar Air Cargo Worldwide, Inc. Our companies operate the world’s largest fleet of 747 freighter aircraft and provide customers the broadest array of Boeing 747, 777, 767, 757 and 737 aircraft for domestic, regional and international applications.

Atlas Air Worldwide’s press releases, SEC filings and other information may be accessed through the company’s home page, www.atlasair.com.

Bonnie Rodney (Media) – [phone]
Dan Loh (Investors) – [phone]