Atlas Air Worldwide Announces Long-Term ACMI Placement with MSC Mediterranean Shipping Company

PURCHASE, N.Y., Sept. 26, 2022 (GLOBE NEWSWIRE) -- Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today announced that its Atlas Air, Inc. subsidiary and MSC Mediterranean Shipping Company SA have entered into an agreement that enables MSC to expand its reach and capacity for its customers.

Under the terms of the long-term ACMI (aircraft, crew, maintenance and insurance) agreement, Atlas Air will operate all four of its new and incoming Boeing 777-200 freighters on a global basis for MSC, with the first delivery being taken in Q4 2022. Atlas’ order of these four aircraft was announced in January 2022.

The 777-200Fs will provide dedicated airfreight capacity to meet customer demand and will serve as a complementary service to MSC’s container shipping solutions. The 777-200F supports environmental stewardship with a twin-engine design that delivers excellent fuel efficiency and noise reduction.

“We are pleased to welcome MSC as a new customer, and look forward to supporting MSC as it develops its airfreight business and further enhances its position as a global leader in transportation and logistics,” said John Dietrich, President and Chief Executive Officer, Atlas Air Worldwide. “This new agreement will allow MSC to capitalize on the state-of-the-art service solutions provided by our aircraft and crews, as well as the unparalleled air cargo expertise brought by our Atlas team.”

Soren Toft, Chief Executive Officer, MSC, said, “We are delighted to announce the development of MSC Air Cargo, an exciting new offering for MSC clients. This strategic partnership with Atlas Air is the first step into this market and we plan to continue exploring various avenues to develop air cargo in a way that complements our core business of container shipping. Atlas Air’s fleet of 777 freighter aircraft is well-suited to support our entry into air cargo and this strategic initiative will ensure we meet the cargo requirements of our customers.”

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.

About MSC:

MSC Mediterranean Shipping Company, headquartered in Geneva, Switzerland, is a global leader in transportation and logistics, privately owned and founded in 1970 by Gianluigi Aponte. As one of the world’s leading container shipping lines, MSC has 675 offices across 155 countries worldwide with the MSC Group employing over 150,000 people. With access to an integrated network of road, rail and sea transport resources which stretches across the globe, the company prides itself on delivering global service with local knowledge. MSC’s shipping line sails on more than 260 trade routes, calling at over 500 ports.

For more information visit www.msc.com.