Atlas Air Worldwide Holdings, Inc. Wins Air Transport World’s Phoenix Award
January 19 2011 - 8:45AM
Business Wire
Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a
leading global provider of air cargo assets and outsourced aircraft
operating solutions, today confirmed that it has been selected by
Air Transport World® to receive the industry magazine’s annual
“Phoenix Award.”
The Phoenix Award, which acknowledges airlines that have gone
through an extraordinary transformation, will be presented to AAWW
“for its highly successful turnaround to achieve consistent
profitability and operational reliability.”
In announcing the award, the magazine noted that even as the
global air cargo market severely contracted in 2009, AAWW boosted
net income 22%, following a strategy focused on continuous
improvement and outstanding operational performance rather than
sheer size. AAWW maintained this strong performance in 2010, with
earnings for the first nine months of the year up more than 100%
compared with the prior year period.
“We are delighted that the strategic initiatives to transform
our business have paid off and are being recognized by Air
Transport World. We have continuously focused on improving our
operating performance and increasing shareholder value. We
attribute our success to the stellar efforts of our employees in
delivering innovative, valued-added services and solutions to our
customers around the globe and appreciate that their efforts are
being recognized,” said William J. Flynn, President and Chief
Executive Officer of AAWW.
“Our focus on operational excellence, continuous improvement,
balance sheet strength and thoughtful, strategic growth, positions
us very well to take advantage of the airfreight and related
aviation market opportunities we see and to deliver continuing
added value to our shareholders and customers.”
ATW Editorial Director Perry Flint said, “Atlas appears to have
found a business model that enables profitability even in lean
times and creates the possibility of strong earnings in more robust
periods.”
AAWW, through its subsidiaries Atlas Air, Inc. and Polar Air
Cargo Worldwide, is the largest provider of outsourced wide-body
freighter aircraft. It is the only scale outsource operator of
747-400Fs, and only outsource provider with next-generation 747-8Fs
on order. AAWW operates a fleet that is a full generation ahead of
its competitors, creating a distinct competitive advantage for the
company.
AAWW’s new CMI service solution, which provides Crew,
Maintenance and Insurance service for customers that provide their
own aircraft, further expands our operating leverage and
profitability as well as adding to the company’s top-tier, global
customer base.
The Phoenix Award will be presented to AAWW on February 8 in
Washington, D.C., at ATW's gala dinner and celebration at the
Renaissance Hotel. Further information about the award is available
in the February issue of ATW and at www.atwonline.com.
Air Transport World (www.ATWOnline.com) is the leading monthly
magazine serving the airline and commercial aircraft manufacturing
and support industries. It launched its awards program in 1974. ATW
is published by Penton Media.
About Atlas Air Worldwide Holdings, Inc.:
AAWW is the parent company of Atlas Air, Inc. (Atlas) and Titan
Aviation Leasing (Titan), and is the majority shareholder of Polar
Air Cargo Worldwide, Inc. (Polar). Through Atlas and Polar, AAWW
operates the world’s largest fleet of Boeing 747 freighter
aircraft.
Atlas, Titan and Polar offer a range of air cargo and aircraft
operating solutions that include ACMI aircraft leasing – in which
customers receive a dedicated aircraft, crew, maintenance and
insurance on a long-term lease basis; CMI service, for customers
that provide their own aircraft; express network and scheduled air
cargo service; military charters; commercial cargo charters; and
dry leasing of aircraft and engines.
AAWW’s press releases, SEC filings and other information may be
accessed through the Company’s home page, www.atlasair.com.
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