Atlas Air and DHL Express Extend Agreements for 20 Freighters
Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings (Nasdaq: AAWW), has extended contracts with DHL Express to operate 20 freighter aircraft, enhancing their partnership that began in 2008.
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Rhea-AI Summary
Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings (Nasdaq: AAWW), has extended contracts with DHL Express to operate 20 freighter aircraft, enhancing their partnership that began in 2008. The agreements will see Atlas Air continue using six Boeing 747-8 freighters, two 747-400 freighters, eight 777-200 freighters, and four 767-300 freighters. Atlas Air's CEO, John W. Dietrich, highlighted the partnership's role in supporting DHL's growth in the global airfreight market, driven by e-commerce demands.
Positive
- Contract extensions with DHL Express to operate 20 freighter aircraft.
- Strengthened partnership since 2008, contributing to consistent business growth.
- Utilization of a modern, fuel-efficient fleet enhances operational efficiency.
- Positioned well within a strong global airfreight market.
Negative
- None.
Details
News Market Reaction – AAWW
The recorded move for AAWW in the trading session of this news was +2.91%.
Data tracked by StockTitan Argus. Session date unavailable.
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PURCHASE, N.Y., Sept. 14, 2021 (GLOBE NEWSWIRE) -- Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), announced it has entered into contract extensions with DHL Express to continue operating 20 freighter aircraft in support of their fast-growing express and e-commerce markets.
These agreements build on the long-standing strategic partnership between Atlas Air Worldwide and DHL, which began in 2008 and included DHL acquiring
The partnership has grown significantly over the years, and under these extended agreements, Atlas Air will continue to operate four different aircraft platforms for DHL Express, including:
- Six Boeing 747-8 freighters
- Two Boeing 747-400 freighters
- Eight Boeing 777-200 freighters
- Four Boeing 767-300 freighters
“DHL Express is a global leader in express and e-commerce, and it is our privilege to contribute to their continued success,” said John W. Dietrich, President and Chief Executive Officer of Atlas Air Worldwide. “These agreements build on our successful 13-year partnership. We look forward to continuing to provide DHL Express with critical capacity through our modern, fuel-efficient fleet. As this agreement indicates, Atlas is capitalizing on the strong global airfreight market conditions as we deepen relationships with our customers.”
“We are pleased to extend our long-standing and valued partnership with Atlas Air,” said Rob Hyslop, Executive Vice President Aviation at DHL Express. “Continuing to utilize Atlas and its global operating capabilities enables us to best serve our customers and their continued high demand for fast international shipping, fueled by the megatrend of e-commerce and the overall importance of global trade.”
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.
| Contacts: | Investors – InvestorRelations@atlasair.com |
| Media – CorpCommunications@atlasair.com |
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