Atlas Air and Sharp Technics K Establish Memorandum of Agreement to Enter into a Joint Venture for Dedicated Maintenance, Repair and Overhaul Facility at Incheon International Airport
August 31 2021 - 8:00AM
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) announced today
that its wholly-owned subsidiary Atlas Air, Inc. has signed a
Memorandum of Agreement to enter into a joint venture with Sharp
Technics K to develop a dedicated maintenance, repair and overhaul
(MRO) facility at Incheon International Airport (ICN) in South
Korea. The maintenance facility is expected to open in 2025.
Sharp Technics K President Soon-Suk Paik said
his company is honored to partner with Atlas Air on this custom
freighter aircraft maintenance facility. “This facility at Incheon
Airport will be able to accommodate multiple wide-body aircraft at
the same time, enabling the facility to contribute to the growth of
airfreight and e-commerce on a global scale as ICN expands its role
in the MRO aviation industry,” Mr. Paik said.
John W. Dietrich, President and Chief Executive
Officer of Atlas Air Worldwide, said he welcomes Sharp Technics K’s
approach to finding the right solution for Atlas Air’s growing
wide-body maintenance needs in the Asia-Pacific region.
“Incheon International Airport is a key airport
for us in our global network as we serve customers around the
world,” Mr. Dietrich said. “Our partnership with Sharp Technics K
will enable us to further streamline maintenance planning with
their integrated approach to servicing our fleet.”
Kyung-Wook Kim, President of Incheon International
Airport Corporation said: “We look forward to supporting Atlas
Air’s MRO needs with this new facility as ICN focuses on
cultivating the air cargo industry. This development will
serve as a cornerstone for new growth as we strengthen Korea’s
competitive position in serving the worldwide aviation MRO
industry.”
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 and 737 aircraft for
domestic, regional and international cargo and passenger
operations.
Atlas Air Worldwide’s press releases, SEC filings
and other information may be accessed through the company’s home
page, www.atlasairworldwide.com.
About Sharp Technics K:
Sharp Technics K is a dedicated FAA Certified MRO
company located at Incheon International Airport that provides
heavy maintenance services for wide-body aircraft.
Its parent company, Sharp Aviation K, is the
largest independent aviation and airport service provider in Korea.
With more than 50 years of experience, it is committed to
delivering the best one-stop service to its clients with operations
in Korea.
Please visit the company’s home page,
www.sharp.co.kr, for more information.
Contacts: |
Investors
– InvestorRelations@atlasair.com |
|
Media – CorpCommunications@atlasair.com |
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