Atlas Air Worldwide to Provide CMI Service for DHL Express In North America
September 08 2011 - 7:00AM
Business Wire
Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a
leading global provider of outsourced aircraft and aviation
operating services, today said that its Atlas Air, Inc. unit has
been selected by DHL Express to operate five B767 freighters owned
by DHL in its North American network starting in 2012.
The agreement with DHL Express enhances Atlas Air’s commitment
to grow its non-asset-intensive CMI (Crew, Maintenance and
Insurance) service solution, which was launched in 2010. The
Company expects CMI to be a strategic driver of increased Company
revenues and earnings and improved business mix over the next few
years and beyond.
The agreement also highlights Atlas Air’s further expansion into
a new, attractive gauge of aircraft, the B767, which is expected to
be an important part of the Company’s fleet strategy going forward.
Atlas Air’s new B767 freighter and military-passenger operation
complements its market-leading B747 freighter and passenger
operation.
“We are very pleased to grow our CMI operations and to expand
our long-term relationship with DHL Express,” said William J.
Flynn, President and Chief Executive Officer. “Since October 2008,
we have provided time-definite, B747-400 freighter network service
to DHL through our Polar Air Cargo Worldwide, Inc. subsidiary,
primarily in the trans-Pacific trade lanes. Now we are capitalizing
on our technical expertise and deep industry knowledge to initiate
domestic B767 service for DHL and broaden our opportunities in
aviation outsourcing.
“Both the quality and reliability of our value-added,
outsourcing services enable us to serve DHL Express and our other
customers as an extension of their operations and an integral part
of their networks. With the global scope and scale of our
operations, we are ready to help DHL grow its business and deliver
on its promise of time-definite service.”
Atlas Air’s CMI service for DHL is expected to begin with one
aircraft in the first quarter of 2012 and to expand to five
aircraft by the third quarter of 2012. Depending on routes flown,
the five aircraft are expected to generate a total volume of
approximately 130 to 150 block hours per aircraft per month.
Mr. Flynn added, “This new award is an example of the strong
execution of our roadmap for the future. We are driving revenue and
increasing efficiencies as we grow our fleet with next-generation
747-8Fs, expand our non-asset-intensive CMI business, and implement
other initiatives that will add significant value to a platform
that already benefits from our industry-leading market position,
global business focus, and our innovative, value-added customer
solutions.”
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.
This release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995
that reflect AAWW’s current views with respect to certain current
and future events and financial performance. Such forward-looking
statements are and will be, as the case may be, subject to many
risks, uncertainties and factors relating to the operations and
business environments of AAWW and its subsidiaries (collectively,
the “companies”) that may cause the actual results of the companies
to be materially different from any future results, express or
implied, in such forward-looking statements.
Factors that could cause actual results to differ materially
from these forward-looking statements include, but are not limited
to, the following: the ability of the companies to operate pursuant
to the terms of their financing facilities; the ability of the
companies to obtain and maintain normal terms with vendors and
service providers; the companies’ ability to maintain contracts
that are critical to their operations; the ability of the companies
to fund and execute their business plan; the ability of the
companies to attract, motivate and/or retain key executives and
associates; the ability of the companies to attract and retain
customers; the continued availability of our wide-body aircraft;
demand for cargo services in the markets in which the companies
operate; economic conditions; the effects of any hostilities or act
of war (in the Middle East or elsewhere) or any terrorist attack;
labor costs and relations; financing costs; the cost and
availability of war risk insurance; our ability to maintain
adequate internal controls over financial reporting; aviation fuel
costs; security-related costs; competitive pressures on pricing
(especially from lower-cost competitors); volatility in the
international currency markets; weather conditions; government
legislation and regulation; consumer perceptions of the companies’
products and services; anticipated and future litigation; and other
risks and uncertainties set forth from time to time in AAWW’s
reports to the United States Securities and Exchange
Commission.
For additional information, we refer you to the risk factors set
forth under the heading “Risk Factors” in the Annual Report on Form
10-K filed by AAWW with the Securities and Exchange Commission on
February 14, 2011 Other factors and assumptions not identified
above may also affect the forward-looking statements, and these
other factors and assumptions may also cause actual results to
differ materially from those discussed.
AAWW assumes no obligation to update such statements contained
in this release to reflect actual results, changes in assumptions
or changes in other factors affecting such estimates other than as
required by law.
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