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ATLAS AIR WORLDWIDE HOLDINGS, INC.

(AAWW)
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Atlas Air Completes Operating Certificate Merger with Southern Air

11/17/2021 | 03:30pm EST

PURCHASE, N.Y., Nov. 17, 2021 (GLOBE NEWSWIRE) --

Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today announced that the transition to bring operations of Southern Air, Inc. under a Single Operating Certificate (SOC) with Atlas Air, Inc. is now complete.

With the addition of Southern Air, Atlas Air was able to add 777 and 737 aircraft operating platforms, resulting in a more diversified company offering customers access to a wider range of aircraft, a broader array of services, greater scale and an expanded global footprint.

“The 2016 acquisition of Southern Air enhanced our company’s position as a leading global provider of outsourced aircraft and aviation operating services by expanding our fleet and global capabilities to drive significant value for our customers and shareholders,” said John W. Dietrich, President and Chief Executive Officer, Atlas Air Worldwide. “It also brought us a talented team of aviation professionals who share in our commitment to our customers as we create an even stronger company for the future. We are excited to have all our Southern Air employees assume positions with Atlas Air as we complete the final step in merging these two great airlines.”

Mr. Dietrich expressed the company’s appreciation for the U.S. Federal Aviation Administration’s (FAA) assistance during the transition.

“We are grateful to the FAA for its support throughout this process as we focused on a safe and compliant operational transition,” Mr. Dietrich said. “The efforts and insight of the FAA team have been invaluable. We look forward to continuing to work closely with the FAA under this Single Operating Certificate.”

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


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Source: Atlas Air Worldwide Holdings

2021 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2021 3 976 M - -
Net income 2021 498 M - -
Net Debt 2021 1 448 M - -
P/E ratio 2021 4,60x
Yield 2021 -
Capitalization 2 247 M 2 247 M -
EV / Sales 2021 0,93x
EV / Sales 2022 0,84x
Nbr of Employees 4 061
Free-Float 78,8%
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Number of Analysts 7
Last Close Price 77,42 $
Average target price 109,50 $
Spread / Average Target 41,4%
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Managers and Directors
John W. Dietrich President, Chief Executive Officer & Director
Spencer Schwartz Chief Financial Officer & Executive Vice President
Duncan J. McNabb Chairman
James A. Forbes Chief Operating Officer & Executive Vice President
Timothy J. Bernlohr Independent Director
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