Atlas Air Worldwide Announces New ACMI Contract with FedEx
Atlas Air Worldwide Holdings (Nasdaq: AAWW) announced a long-term agreement with FedEx to provide two 747-400 freighter aircraft on an ACMI basis.
Sentiment and the balance of points
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Rhea-AI Summary
Atlas Air Worldwide Holdings (Nasdaq: AAWW) announced a long-term agreement with FedEx to provide two 747-400 freighter aircraft on an ACMI basis. This deal complements an existing contract ensuring five aircraft for FedEx during the fourth quarter. The newly added freighters are already in service, enhancing FedEx’s express and e-commerce operations. CEO John W. Dietrich emphasized the strong demand for airfreight capacity, positioning Atlas as a leader in express networks and underlining its commitment to modern and efficient aircraft.
Positive
- Long-term agreement with FedEx enhances revenue stability.
- Addition of two freighter aircraft signifies growing demand for airfreight capacity.
- Existing contract with FedEx during peak season supports ongoing business.
- CEO's statement reflects confidence in the air freight market.
Negative
- None.
Details
News Market Reaction – AAWW
The recorded move for AAWW in the trading session of this news was +1.94%.
Data tracked by StockTitan Argus. Session date unavailable.
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PURCHASE, N.Y., Sept. 22, 2021 (GLOBE NEWSWIRE) -- Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) announced its subsidiary Atlas Air, Inc. has entered into a long-term agreement with FedEx to provide two 747-400 freighter aircraft on a full-time aircraft, crew, maintenance and insurance (ACMI) basis. This new agreement is in addition to the company’s existing multi-year peak season contract that provides FedEx with a minimum of five aircraft during the fourth quarter.
Both 747-400 freighters have entered service and are flying on behalf of FedEx to support their growing express and e-commerce network.
“We are pleased to grow our long-term relationship with FedEx. This agreement reflects the continued strong demand for airfreight capacity, particularly in the express and e-commerce markets,” said John W. Dietrich, President and Chief Executive Officer of Atlas Air Worldwide. “Atlas is a leader in supporting express networks, with a focus on operating the most modern, fuel-efficient aircraft to deliver high levels of on-time performance for our customers.”
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 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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