Atlas Air Worldwide Commends U.S.-EU Wet-Lease Services Agreement

Globe Newswire 29-Aug-2019 10:30 AM

PURCHASE, N.Y., Aug. 29, 2019 (GLOBE NEWSWIRE) -- Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) congratulates and thanks the United States government for its long-standing efforts to persuade the European Union to enter into a stand-alone agreement allowing U.S. air carriers to provide wet-lease, or ACMI (aircraft, crew, maintenance and insurance), services to European carriers.

The U.S.-EU agreement eliminates one-sided, short-term time constraints that severely limited the ability of U.S. carriers to provide ACMI service in Europe, while European carriers were under no such restrictions in the United States.

"We are extremely gratified that the United States continues to pursue policies that promote open access to the skies and broaden the marketplace for U.S. carriers," said Chairman and Chief Executive Officer William J. Flynn. "We applaud this new arrangement between the U.S. and EU, and we look forward to the new opportunities that it will bring."   

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, 757 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: Dan Loh (Investors) – (914) 701-8200
Debbie Coffey (Media) – (914) 701-8951