As I understand it the DHL deal only involves US-Asia Polar flights or am I wrong? When AAWW says that the direct fuel-price exposure will be largely eliminated, what does that mean for the 'scheduled service' flights that fly US-Europe on 5Y flight numbers and Atlas aircraft for example?
Initially the current Polar routes between Asia and the US, plus some continuing flights within the US, will be "DHL" routes. How AAWH will deal with the current Atlas-Polar ACMI flights HKG-LEJ, we'll see in the future. Same with any expansion of the DHL contract when AAWH receives their 747-8s in another 18 months or so...
I suspect "scheduled service" US-Europe 5Y flights will succumb to the economy, unless they remain profitable.