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ATLAS AIR WORLDWIDE HOLDINGS, INC.

(AAWW)
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Atlas Air Teams Up With Cainiao to Operate Daily Asia-Latin America Chartered Flights with Cargo Volume Rising by 144%

11/15/2021 | 08:02am EST

PURCHASE, N.Y., Nov. 15, 2021 (GLOBE NEWSWIRE) -- Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) announced its Atlas Air, Inc. subsidiary has expanded its partnership with Cainiao Network, (“Cainiao”), the logistics arm of Alibaba Group, to enhance overall shipping efficiency in response to the growth of cross-border trade between China and Latin America. With the launch of daily flights, Cainiao’s weekly cargo volume from China to Latin America has increased 144% compared to last October when there were only three chartered flights per week.

Under the expanded agreement, Atlas has added an additional B747-400F to fly between Hong Kong, China and Santiago, Chile. This brings the total dedicated fleet that Atlas operates for Cainiao to five aircraft.

This expanded fleet builds upon the successful collaboration between Atlas and Cainiao, which was launched in October 2020, with Atlas operating three weekly charter flights dedicated to Cainiao, linking Hong Kong with Brazil and Chile. The current upgraded Atlas-Cainiao partnership has enhanced overall warehouse distribution and air freight efficiency by over 40%.

According to Cainiao, the number of parcels shipped to Brazil in September 2021 increased by 200% as compared to the same month last year. In response to the robust growth, Cainiao rolled out "12-day delivery service" in Brazil's core metropolitan areas. In addition, Cainiao also plans to establish a distribution center in Brazil to offer next-day or even same-day delivery in partnership with local delivery firms.

“Our partnership with Atlas Air continues to strengthen our network between South America and other destinations around the globe as we further enhance Cainiao’s capabilities to support merchants worldwide efficiently and reliably,” said William Xiong, Cainiao’s Chief Strategist and General Manager of Export Logistics.

“We are very pleased that Cainiao and Alibaba have selected Atlas as a strategic growth partner,” said President and Chief Executive Officer John W. Dietrich, Atlas Air Worldwide. “Through our successful relationship over the last year, Atlas’ global operating capabilities have enabled Cainiao to continue offering its customers faster deliveries throughout the world. We are excited to add incremental capacity in support of this growing partnership.”

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a3963bc2-37c1-4042-9369-a6d9fdc4e69b

About Cainiao Network:

Founded in 2013, Cainiao Network (“Cainiao”) is a global industrial internet company and the logistics arm of Alibaba Group. As part of its commitment to create customer value, it adopts a collaborative approach to logistics that aims to improve efficiency and customer experience for all players along the supply chain. It carries forward Alibaba’s mission of making it easy to do business anywhere by aiming to deliver anywhere in China within 24 hours, and across the globe within 72 hours.

Media Contact
Jin WU
jinwujun@alibaba-inc.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., 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’s press releases, SEC filings and other information may be accessed through the company’s home page, www.atlasairworldwide.com.

FOR IMMEDIATE RELEASE                        

Contacts: Investors – InvestorRelations@atlasair.com
Media – CorpCommunications@atlasair.com


Primary Logo

Cainiao-Atlas Asia-Latin America Chartered Flight

Cainiao-Atlas Asia-Latin America Chartered Flight
Source: Atlas Air Worldwide Holdings

2021 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2021 3 979 M - -
Net income 2021 500 M - -
Net Debt 2021 1 444 M - -
P/E ratio 2021 4,50x
Yield 2021 -
Capitalization 2 208 M 2 208 M -
EV / Sales 2021 0,92x
EV / Sales 2022 0,87x
Nbr of Employees 4 061
Free-Float 78,8%
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Number of Analysts 7
Last Close Price 76,08 $
Average target price 109,50 $
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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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