Atlas Air

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Atlas Air is an American cargo airline based in Purchase, New York. It operates scheduled freight flights on a wet lease basis for some of the world's leading airlines, flying to 101 cities in 46 countries.[3] Its crew bases include: Miami International Airport, New York John F. Kennedy International Airport, Los Angeles International Airport, Anchorage International Airport, Houston George Bush Intercontinental Airport, and Huntsville International Airport.

Contents

History

The airline was founded in April 1992 by the late Pakistani American aerospace enthusiast Michael Chowdry, to specialise in the long-term contract outsourcing of its Boeing 747 aircraft. It started operations in 1993 with one Boeing 747 and contracted by China Airlines. In 1995 Atlas began trading publicly on the NASDAQ, and in 1997 appeared on the New York Stock Exchange. An initial public offering of 4 million shares was made in August 1998. In 2001 the airline introduced a new program of leasing and services, based on the Aircraft, Crew, Maintenance and Insurance(ACMI) model. Under this new program, Atlas Air cargo planes would be available to other airlines for operations such as charter flights. In July 2004 Atlas Air completed its restructuring plan and emerged from Chapter 11 bankruptcy protection.[3] Recently, AAWWH announced that DHL has bought long term rights to carry some of its cargo on Polar's aircraft.

In March of 2010 Atlas Air was awarded a nine-year contract for the operation of the Boeing 747 Large Cargo Freighter (LCF) 'Dreamlifter' for transporting aircraft parts to Boeing from suppliers around the world. It will commence operation in September 2010.

Atlas Air Worldwide Holdings, Inc. (NASDAQAAWW) wholly owns Atlas Air,[3] Polar Air Cargo (51%), and a share of Global Supply Systems (49%). Atlas Air Worldwide Holdings is a public company with 1725 employees and 630 million USD market capitalization.[4]

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