PURCHASE, N.Y., April 4, 2019 – Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today announced that its Atlas Air, Inc. unit and Qantas Freight have enhanced their long- standing ACMI (aircraft, crew, maintenance and insurance) relationship.

Under the terms of the agreement, Atlas Air will operate two Boeing 747-8 Freighters in ACMI service for Qantas on transpacific routes linking Australia and Asia with the United States beginning in late July 2019. The aircraft will replace two Boeing 747-400 Freighters currently in service for Qantas.

The 747-8Fs will provide additional revenue cargo volume to serve the strong growth in demand across Qantas’ international freight network. The 747-400Fs are expected to enter into ACMI service for other Atlas Air customers.

“Our enhanced agreement builds upon a strong and successful 15-year partnership between Atlas Air and Qantas and will capitalize on the state-of-the-art service solutions provided by our aircraft and crews,” said William J. Flynn, President and Chief Executive Officer, Atlas Air Worldwide. “We look forward to supporting Qantas as it continues to capture market opportunities and enhance its position as a premier international airline.”

Andrew David, CEO of Qantas Domestic and Freight, said, “Wet-leasing these newer, more efficient Boeing 747-8Fs from Atlas Air will allow us to provide a better service for our customers with additional freight capacity and even greater reliability for time-sensitive shipments.”

The 747-8Fs to be operated for Qantas will be allocated to it following the expiration of an existing ACMI agreement with another Atlas customer.