Atlas Air Worldwide Announces Expansion of Customer Flying

• Increased 777-200F CMI Service for DHL Express
• Adding Third 747-400F for Asiana Cargo
• New Long-Term 747-400F Charter Program for One of World’s Largest Technology Companies

PURCHASE, N.Y., June 4, 2019 – Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today announced the start of increased 777-200F CMI service for DHL Express, the addition of a third 747-400F for Asiana Cargo, and the beginning of a long-term, 747-400F charter program for one of the world’s largest technology companies.

DHL Express has awarded operation of the first two of its new Boeing 777-200 Freighters to Atlas’ Southern Air, Inc. unit, with an opportunity for additional aircraft in the future as DHL awards the remaining 12 deliveries in its 777 aircraft order.

The new flying for DHL represents a continued expansion of Atlas’ CMI (crew, maintenance and insurance) service. The two CMI aircraft are the seventh and eighth 777s to be operated by Southern Air for DHL. They will be flown on key global routes and will assist DHL in meeting the increasing demand for its express services. The aircraft are expected to begin scheduled operations in June and July 2019.

“We are very pleased that DHL Express has chosen to expand its partnership with us,” said William J. Flynn, President and Chief Executive Officer, Atlas Air Worldwide. “By growing our CMI operations, we continue to diversify our business mix and to drive more predictable revenue and earnings streams.”

Atlas’ companies provide ACMI (aircraft, crew, maintenance and insurance), CMI, charter and dry-leasing services to support DHL’s transpacific express, North American, intra-Asian and global networks. From six aircraft for DHL in October 2008, Atlas has grown service for its largest customer to 40 aircraft today.

In connection with the expansion of CMI service for DHL, two 747-400 freighters currently operating for DHL Express will begin flying for other Atlas customers.

The company’s Atlas Air, Inc. subsidiary has entered into agreements to add a third 747-400 freighter for Asiana Cargo and to begin a long-term 747-400F charter program for a market- leading technology company.

“We are delighted to continue expanding our strategic partnership with Asiana Cargo and to start a new relationship with a major technology company,” Mr. Flynn added. “Like DHL, these customers take pride in providing reliable, high-quality service, and we are very pleased to be chosen to manage a large and important part of their international networks. We look forward to providing them and their customers with unmatched service and a platform for future expansion.”

Kwang Suk Kim, Executive Vice President, Asiana Airlines Cargo, noted: “We are pleased to continue our close cooperation with Atlas Air and to add a third 747-400 freighter. Our growing partnership with Atlas Air will enable us to expand service for our customers and to pursue additional strategic opportunities.”