Atlas Air Worldwide To Maintain Headquarters in Westchester County, N.Y.
June 08 2011 - 12:01PM
Business Wire
Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a
leading global provider of outsourced aircraft and aviation
operating services, today confirmed that it has decided to maintain
its corporate headquarters in Purchase, N.Y. Reflecting the
company’s transformative growth initiatives, Atlas Air Worldwide
will retain 460 existing jobs and create 50 new full-time positions
in New York State.
Atlas Air Worldwide Headquarters at 2000
Westchester Avenue in Purchase, N.Y. (Photo: Business Wire)
“Atlas Air Worldwide has called New York home for a dozen years
and we are delighted to continue to do so,” said William J. Flynn,
President and Chief Executive Officer. “Many of our employees have
been an integral part of our team since we established
administrative and operational facilities at John F. Kennedy
Airport in Queens, N.Y., in the 1990s and since we moved our
corporate headquarters from Colorado to Purchase, N.Y., in
2000.
“We are in an exciting era of transformative business growth –
an era that we expect will significantly increase our revenues and
earnings over the next few years and beyond. Thanks to the economic
and related assistance of New York State and Westchester County, we
are delighted that we will be able to continue to operate from our
current headquarters. This will allow us to retain our valued
employees, create new jobs and generate economic growth in the
community.”
Atlas Air Worldwide will receive up to $8.5 million in Excelsior
Job Program benefits and up to $442,000 in sales tax exemptions
from Westchester County’s Industrial Development Agency. In
addition, the company will be entitled to energy credits valued at
approximately $480,000 over a ten-year period. The company received
aggressive incentive offers from several other locations, but chose
to reinvest in New York State.
“Empire State Development is pleased to partner with Atlas Air
Worldwide in this project, which will create and retain hundreds of
jobs,” said Kenneth Adams, ESD President, CEO and Commissioner.
“Atlas can now be added to the growing list of companies that have
chosen to stay and grow in Westchester County in just the last few
months. We applaud the company’s commitment to New York and look
forward to the positive impact it will have on the local economy of
Purchase and its nearby communities.”
“Relationships and urgency matter when it comes to generating
economic growth,” said Westchester County Executive Robert P.
Astorino. “When the county heard that Atlas Air Worldwide was being
wooed by several other states, I immediately picked up the phone.
Right after that Bill Flynn and I and our senior teams were meeting
face to face. I asked ‘What do you need and how can we help?’ They
told us and the conversations that followed led to today’s
announcement. Listening to and working with businesses is how
government helps create jobs. We are extremely pleased to have
Atlas Air Worldwide staying and expanding in Westchester
County.”
Mr. Flynn added: “2010 was a record year for Atlas Air
Worldwide, driven by strong airfreight demand, tight supply of
wide-body, long-haul freighter aircraft – and our effectiveness in
executing our business model.
“During the past several years, we have aggressively managed and
modernized our existing fleet, transformed our scheduled service
business to express network ACMI, reduced our costs, and
strengthened our balance sheet. In short, we are stronger, more
effective and efficient company.
“Now, we are in a new era of transformative growth that should
drive our revenues and earnings to higher sustained levels as we
grow our fleet with next-generation 747-8 Freighters; expand our
non-asset-intensive CMI service solution; grow our new
military-passenger charter service; and execute on initiatives that
capitalize on our industry-leading marketing position, our global
business focus, and our innovative value-added customer solutions
for DHL Express, British Airways, Qantas, Panalpina, Emirates and
many others. We believe we have a bright future, and we are very
pleased to launch our growth initiatives from New York State.”
About Atlas Air Worldwide:
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 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
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.
About Empire State Development
Empire State Development is New York’s chief economic
development agency and administrator of the statewide business
resource portal: New York First (www.NYfirst.NY.gov). The mission
of Empire State Development is to promote business investment and
growth that leads to job creation and prosperous communities across
New York State. ESD also oversees the marketing of “I LOVE NY,” the
State’s iconic tourism brand. For more information on Empire State
Development, visit www.esd.ny.gov.
About Westchester County’s Office of Economic
Development
Under the direction of former marketing and public relations
executive, Laurence P. Gottlieb, Westchester County’s Office of
Economic Development (OED) is redefining government’s role in
helping businesses succeed in Westchester. In collaboration with a
far-reaching team of public and private professionals, OED’s main
mission is quickly connecting business owners and their
representatives with the information, financial and human resources
their organizations need to start, expand, stay or come to
Westchester County – New York’s Intellectual Capital™. Both the
county’s Industrial Development Agency and Office of Tourism and
Film are part of OED. For more information, go to Thinking
Westchester (www.thinkingWestchester.com).
Photos/Multimedia Gallery Available:
http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6752592&lang=en
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