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Atlas Air Accepts Delivery of New 747-400 Freighter Aircraft
July 09, 2002 08:51:00 AM ET

PURCHASE, N.Y.--(BUSINESS WIRE)--July 9, 2002--Atlas Air has accepted delivery of a new 747-400 freighter aircraft from the Boeing Company. This is the first of three aircraft scheduled to be delivered to Atlas Air, Inc. in 2002. Boeing has provided favorable lease financing for the aircraft. In addition, lease financing has been arranged for the other two aircraft to be delivered to Atlas this year under positive cash flow and lease terms, subject to final documentation. Delivery of these aircraft is expected to occur in July and November 2002.

Atlas Air, Inc. is a wholly owned subsidiary of Atlas Air Worldwide Holdings, Inc. CGO 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.

To the extent that any of the statements contained herein relating to the Company's expectations, assumptions and other Company matters are forward-looking, they are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations that involve a number of uncertainties and risks that could cause actual results to differ materially from those projected in the forward-looking statements, including, but not limited to, risks associated with: worldwide business and economic conditions; product demand and the rate of growth in the air cargo industry; the impact of competitors and competitive aircraft and aircraft financing availability; the ability to attract and retain new and existing customers; normalized aircraft operating costs and reliability; management of growth; the continued productivity of its workforce; dependence on key personnel; and regulatory matters.

Contact Information:
Atlas Air
Investor Contact
Jason Grant, 914/701-8402
Media Contact
Rachel Berry, 914/701-8400

© 2002 BusinessWire

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