Atlas Air Pilots Contract Tentative Agreement
 

Atlas Air Reaches Tentative Agreement With Crewmembers. .PURCHASE, N.Y.--(BUSINESS WIRE)--Jan. 25, 2002--Atlas Air, Inc. announced today that it has reached a tentative collective bargaining agreement on an initial contract with its flight crew employees, who are represented by the Air Line Pilots Association.

The agreement is subject to ratification by Atlas Air crewmembers. No details of the agreement are being released at this time.

"This is a long-term agreement that is good for both the company and our flight crew members,'' said Richard Shuyler, Chief Executive Officer of Atlas Air, Inc. "The contract that we've reached offers both parties the stability we need in this difficult economic environment.''

Atlas Air currently employs 621 active pilots and flight engineers, who operate the company's fleet of Boeing 747 aircraft.

Shuyler added, "I am proud of the contribution that our experienced, professional flight crewmembers have made, and continue to make, to Atlas Air's continuing success.''

Atlas Air, Inc. is a wholly owned subsidiary of Atlas Air Worldwide Holdings, Inc. (NYSE:CGO - news) and is a United States certificated air carrier. Atlas Air offers its customers a complete line of freighter services, specializing in ACMI contracts. These contracts include the provision by Atlas Air of the Aircraft, Crew, Maintenance and Insurance for some of the world's leading international carriers. . . <img src="cool.gif" border="0">