Atlas Air Enters Into Long-Term Agreement with Kuehne+Nagel for Two Boeing 747-8 Freighters

Thursday, 17. February 2022 14:30

PURCHASE, N.Y., Feb. 17, 2022 (GLOBE NEWSWIRE) -- Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), today announced it has entered into a long-term, dedicated charter agreement to operate two of its new incoming Boeing 747-8 freighters on a global basis for Kuehne+Nagel, one of the world’s largest freight forwarders.

Atlas Air will commence operation of these aircraft for Kuehne+Nagel following their delivery from Boeing, with one expected in the third quarter and the second in the fourth quarter of 2022. Atlas Air operates one of the world’s largest fleets of 747-8Fs, the most capable freighter aircraft in the world. These two aircraft placed with Kuehne+Nagel are the last 747s Boeing will produce.

As previously announced, Atlas ordered the last four 747 production aircraft to capitalize on strong demand and deliver value for its customers, while also bolstering its commitment to environmental stewardship through the reduction of aircraft emissions, resource consumption and noise. This legendary aircraft has been in production for over 50 years and will continue to serve the needs of our global supply chains for decades into the future.

“We are delighted to expand our partnership with Kuehne+Nagel by providing dedicated capacity for their growing global airfreight network,” said Atlas Air Worldwide President and Chief Executive Officer John W. Dietrich. “The Boeing 747-8F serves an incredibly important role in global airfreight, with advanced technology that allows for lower fuel consumption, higher capacity and unique nose-loading capability. We look forward to taking delivery of these two 747s and operating them for Kuehne+Nagel to support their network for years to come.”

Yngve Ruud, Member of the Management Board of Kuehne+Nagel, responsible for Air Logistics, commented: "As a market leader in airfreight, Kuehne+Nagel further expands its dedicated charter network to support customers with solutions for long-term planning and high-quality service. We are proud to partner with Atlas Air and include these two new Boeing 747-8Fs in our already extensive global capacity offering."

The 747-8F provides 20% higher payload capacity and 16% lower fuel consumption than the very capable 747-400F.

About Kuehne+Nagel

With more than 76,000 employees at 1,400 locations in over 100 countries, the Kuehne+Nagel Group is one of the world's leading logistics companies. Its strong market position lies in Sea Logistics, Air Logistics, Road Logistics and Contract Logistics, with a clear focus on integrated logistics solutions.

About Atlas Air Worldwide:

Atlas Air Worldwide is a leading global provider of outsourced aircraft and aviation operating services. It is the parent company of Atlas Air, Inc., and Titan Aviation Holdings, Inc., and is the majority shareholder of Polar Air Cargo Worldwide, Inc. Our companies operate the world’s largest fleet of 747 freighter aircraft and provide customers the broadest array of Boeing 747, 777, 767 and 737 aircraft for domestic, regional and international cargo and passenger operations.  

Atlas Air Worldwide’s press releases, SEC filings and other information may be accessed through the company’s home page, www.atlasairworldwide.com.

Contacts:  Investors – InvestorRelations@atlasair.com
Media – CorpCommunications@atlasair.com
  

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a0a774c4-932c-4428-8d58-d03e89751ead


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Atlas Air Enters Into Long-Term Agreement with Kuehne+Nagel for Two Boeing 747-8 Freighters

Atlas Air Enters Into Long-Term Agreement with Kuehne+Nagel for Two Boeing 747-8 Freighters
Related Links: Atlas Air Worldwide Holdings Inc.
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