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ATLAS AIR WORLDWIDE HOLDINGS, INC.

(AAWW)
  Report
Delayed Nasdaq  -  04:00:00 2023-01-27 pm EST
101.90 USD   -0.10%
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Atlas Air Takes Delivery of First of Four New Boeing 777-200 Freighters

11/28/2022 | 09:20am EST

First Aircraft for MSC’s New Air Cargo Solution

PURCHASE, N.Y., Nov. 28, 2022 (GLOBE NEWSWIRE) -- Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), today announced it has taken delivery of a Boeing 777-200 Freighter, which it will operate on behalf of its customer MSC Mediterranean Shipping Company SA, as part of a previously announced long-term ACMI (aircraft, crew, maintenance, insurance) agreement.

The 777-200 Freighter will complement MSC’s world-class container shipping solutions and expand service to key trade lanes for various industries, including those which traditionally have significant air cargo transportation needs. This aircraft is the first of four new Boeing 777 Freighters that Atlas will operate for MSC.

With an established history of twin-engine efficiency, reduced fuel consumption, and lower maintenance and operating costs, MSC enters the air cargo industry with the longest-range twin-engine freighter in the world, capable of flying 4,880 nautical miles (9,038 kilometers). The 777-200F also meets quota count standards for maximum accessibility to noise‑sensitive airports around the globe.

“We are looking forward to this partnership with MSC, the world’s largest shipping company, as they enter into air cargo,” said John Dietrich, President and Chief Executive Officer, Atlas Air Worldwide. “We are pleased that all four of our newly acquired 777-200Fs are placed on a long-term basis with MSC, providing them with dedicated capacity to support their growth and expansion.” 

“We are delighted to see the first of our MSC-branded aircraft take to the skies and we are looking forward to start serving the market with our new Air Cargo solution,” said Jannie Davel, Senior Vice President Air Cargo at MSC. “We believe that MSC Air Cargo is developing from a solid foundation thanks to the reliable ongoing support of our operating partner Atlas.”

About MSC:

Media Contact
Giles Broom
media@msc.com

MSC Mediterranean Shipping Company, headquartered in Geneva, Switzerland, is a global leader in transportation and logistics, privately owned and founded in 1970 by Gianluigi Aponte. As one of the world’s leading container shipping lines, MSC has 675 offices across 155 countries worldwide with the MSC Group employing over 150,000 people. With access to an integrated network of road, rail and sea transport resources which stretches across the globe, the company prides itself on delivering global service with local knowledge. MSC’s shipping line sails on more than 260 trade routes, calling at 520 ports.

For more information visit www.msc.com

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

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/8b0ad931-59d2-4531-9cf8-727acdad0318

https://www.globenewswire.com/NewsRoom/AttachmentNg/27189749-bb5b-409e-b2a7-4a225c6f52d4


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Analyst Recommendations on ATLAS AIR WORLDWIDE HOLDINGS, INC.
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Financials (USD)
Sales 2022 4 603 M - -
Net income 2022 399 M - -
Net Debt 2022 1 693 M - -
P/E ratio 2022 7,48x
Yield 2022 -
Capitalization 2 890 M 2 890 M -
EV / Sales 2022 1,00x
EV / Sales 2023 1,01x
Nbr of Employees 4 056
Free-Float 79,5%
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Mean consensus HOLD
Number of Analysts 5
Last Close Price 101,90 $
Average target price 102,63 $
Spread / Average Target 0,71%
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Managers and Directors
John W. Dietrich President & Chief Operating Officer
Spencer Schwartz Chief Financial Officer & Executive Vice President
Duncan J. McNabb Chairman
Richard Ross Senior Vice President-Information Technology
James A. Forbes Chief Operating Officer & Executive Vice President
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