Atlas Air Worldwide Begins Boeing 767 Operations for DHL Express in North America

By algevis - Thu Mar 29, 9:00 am

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Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), a leading global provider of outsourced aircraft and aviation operating services, today said that its Atlas Air, Inc. unit has commenced Boeing 767 cargo service in North America for DHL Express under a previously announced long-term CMI (Crew, Maintenance and Insurance) contract.

The new service on behalf of the world’s leading international express shipping company further expands Atlas Air’s asset-light CMI service solution, which was launched in 2010. Atlas Air expects CMI to be a strategic driver of increased revenues and earnings and improved business mix.

“By growing our CMI operations, we continue to diversify our business mix while at the same time strengthening our long-term relationship with DHL Express,” said William J. Flynn, President and Chief Executive Officer, Atlas Air Worldwide. “Customers like DHL recognize that our technical expertise, global scope and scale of operations, and deep industry knowledge can greatly assist them in their own operations.”

Under the agreement, Atlas Air, Inc. will operate five Boeing 767-200 freighters owned by DHL in DHL’s North American network. The first of these aircraft started service this month and all five are expected to be operational by the third quarter of 2012.

Atlas crews will operate the aircraft on behalf of DHL on routings to and from DHL’s Cincinnati hub. Depending on routes flown, the eventual five aircraft are expected to generate a total volume of approximately 130 to 150 block hours per aircraft per month.

The business also highlights Atlas Air’s further expansion into a new, attractive gauge of aircraft, the Boeing 767, which is expected to be an important part of the company’s fleet strategy going forward. Atlas Air’s innovative 767 freighter and passenger operations complement its market-leading Boeing 747 freighter and passenger operations.

The company, through its Polar Air Cargo Worldwide, Inc. subsidiary, also provides time-definite, 747-400 freighter network service to DHL, primarily in the trans-Pacific trade lanes.

“Our new 767 service for DHL Express is another milestone event for Atlas,” Mr. Flynn added.

“It shows that we are executing on the strategies that are central to our business plan, demonstrates growth of our asset-light CMI business and represents an expansion of our relationship with DHL Express. It also underscores our growth into a key new equipment type and is symbolic of where we are taking the company.”

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