Atlas Air Announces Long-Term Extension of Agreement with DB Schenker
Atlas Air, a subsidiary of Atlas Air Worldwide (Nasdaq: AAWW), has expanded its partnership with DB Schenker, enhancing transpacific cargo services.
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Rhea-AI Summary
Atlas Air, a subsidiary of Atlas Air Worldwide (Nasdaq: AAWW), has expanded its partnership with DB Schenker, enhancing transpacific cargo services. This agreement builds on a 2020 contract, providing consistent charter capacity on multiple weekly flights. Atlas Air aims to ensure reliable and efficient delivery for DB Schenker's global logistics needs. Executives from both companies expressed enthusiasm about the long-term commitment and the essential role of Atlas Air in DB Schenker's operations.
Positive
- Extended partnership with DB Schenker enhances transpacific service.
- Commitment to provide multiple weekly charter flights strengthens operational reliability.
Negative
- None.
Details
News Market Reaction – AAWW
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PURCHASE, N.Y., Nov. 30, 2021 (GLOBE NEWSWIRE) -- Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), announced an extension of its partnership with Schenker Flight Services GmbH (DB Schenker), one of the world’s largest integrated logistics service providers, to provide transpacific service.
Atlas Air’s relationship with DB Schenker includes supporting its global network by providing charter capacity service. The new arrangement builds on an agreement Atlas Air reached with DB Schenker in 2020, and extends the dedicated capacity, which Atlas Air provides on multiple flights every week.
“We are excited to strengthen our partnership with DB Schenker through this long-term, extended agreement to provide critical capacity for our valued customer,” said John W. Dietrich, President and Chief Executive Officer of Atlas Air Worldwide. “We appreciate DB Schenker’s confidence in Atlas Air’s ability to deliver their cargo safely and efficiently as we support their network across the Pacific and around the world.”
Björn Eckbauer, Senior Vice President, Global Operations and Procurement Airfreight for DB Schenker, said the flights Atlas Air provides have become an essential part of their global flight network. “We are excited to extend our current partnership with Atlas Air on our transpacific charter operations. The timely and reliable operation of Atlas Air fits perfectly into our commitment to provide our customers a reliable service for air transportation in their supply chain,” Mr. Eckbauer said.
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., 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
