NEWS RELEASE
[GRAPHIC OMITTED] --------------------------------------------------------------
2000 Westchester Avenue, Purchase, New York, 10577 o 914-701-8400
FOR IMMEDIATE RELEASE:
Contacts: Alan Caminiti 914-701-8400 (Media)
Dan Loh 914-701-8210 (Investors)
ATLAS AIR WORLDWIDE HOLDINGS REPORTS
PRELIMINARY FEBRUARY SYSTEM STATISTICS AND TRAFFIC RESULTS
FEBRUARY BLOCK HOURS DOWN 19.6%; YEAR-TO-DATE HOURS DOWN 20.9%
PURCHASE, N.Y., APRIL 3, 2006 - Atlas Air Worldwide Holdings, Inc. (AAWW) (OTC:
AAWW.PK), a leading provider of global air cargo services, today reported
preliminary system statistics and traffic results for February 2006 and for the
two-month period ended February 28, 2006.
Results for the reported period reflect AAWW's active efforts to maximize profit
and minimize risk by optimizing the allocation of available capacity among the
Company's four service types in line with prevailing business opportunities and
market conditions.
Total block-hour activity during February declined 19.6% compared with the same
month in 2005, while the average number of aircraft operated remained constant.
Block hours operated in the ACMI segment decreased 23.9% year over year, while
Military Charter segment hours decreased 22.5% and Commercial Charter segment
hours declined 11.7%. Within the Scheduled Service business segment, traffic (as
measured by revenue ton miles "RTM's") decreased 10.9% year over year, while
capacity (as measured by available ton miles "ATM's") decreased 9.6% year over
year, resulting in a load factor of 63.5% in February compared with 64.4% in
February 2005.
During February, AAWW operated an average of 39.0 wide-body 747 aircraft
compared with an average of 39.0 in February 2005.
Total block-hour activity for the two months ended February 28, 2006, decreased
20.9% versus the two months ended February 28, 2005, while the average number of
aircraft operated declined 0.5%.
Block hours operated in the ACMI segment decreased 23.7% during the first two
months of 2006, while Military Charter segment hours decreased 25.8% and
Commercial Charter segment hours declined 23.6%. Within the Scheduled Service
business segment, traffic decreased 11.9% (in RTM terms) versus the two months
ended February 28, 2005, and capacity (in ATM's)
decreased 10.4%, resulting in a load factor of 61.1% for the 2006 period
compared with 62.1% for the 2005 period.
For the two months ended February 28, 2006, AAWW operated an average of 39.0
wide-body 747 aircraft versus an average of 39.2 aircraft in the first two
months of 2005.
The preliminary system statistics and traffic results that follow do not
constitute financial statements, were not prepared in accordance with generally
accepted accounting principles, and do not contain all of the disclosures
required by generally accepted accounting principles or by the Securities
Exchange Act of 1934, as amended, or any other prescribed form or format. AAWW
cautions readers not to place undue reliance upon the information contained in
these statistics and results, which may be adjusted from time to time.
These statistics and results, which have not been audited, may not be indicative
of AAWW's financial statements in reports that would be required to be filed
pursuant to the Securities Exchange Act of 1934, as amended.
ABOUT ATLAS AIR WORLDWIDE HOLDINGS, INC.:
AAWW is the parent company of Atlas Air, Inc. (Atlas) and Polar Air Cargo, Inc.
(Polar), which together operate the world's largest fleet of Boeing 747
freighter aircraft.
AAWW, through its principal subsidiaries Atlas and Polar, offers scheduled air
cargo service, cargo charters, military charters, and ACMI aircraft leasing in
which customers receive a dedicated aircraft, crew, maintenance and insurance on
a long-term lease basis.
AAWW's press releases, SEC filings and other information may be accessed through
the Company's home page, WWW.ATLASAIR.COM.
This release contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 that reflect AAWW's current
views with respect to certain current and future events and financial
performance. Such forward-looking statements are and will be, as the case may
be, subject to many risks, uncertainties and factors relating to the operations
and business environments of AAWW and its subsidiaries (collectively, the
"companies") that may cause the actual results of the companies to be materially
different from any future results, express or implied, in such forward-looking
statements.
Factors that could cause actual results to differ materially from these
forward-looking statements include, but are not limited to, the following: the
ability of the companies to operate pursuant to the terms of their financing
facilities; the ability of the companies to obtain and maintain normal terms
with vendors and service providers; the companies' ability to maintain contracts
that are critical to their operations; the ability of the companies to fund and
execute their business plan; the ability of the companies to attract, motivate
and/or retain key executives and associates; the ability of the companies to
attract and retain customers; the continued availability of our wide-body
aircraft; demand for cargo services in the markets in which the companies
operate; economic conditions; the effects of any hostilities or act of war (in
the Middle East or elsewhere) or any terrorist attack; labor costs and
relations; financing costs; the cost and availability of war risk insurance; our
ability to remedy weaknesses in our internal controls over financial reporting;
aviation fuel costs; security-related costs; competitive pressures on pricing
(especially from lower-cost competitors); volatility in the international
currency markets; weather conditions; government legislation and regulation;
consumer perceptions of the companies' products and services; pending and future
litigation; and other risks and uncertainties set forth from time to time in
AAWW's reports to the United States Securities and Exchange Commission.
2
For additional information, we refer you to the risk factors set forth under the
heading "Risk Factors" in the Annual Report on Form 10-K filed by AAWW with the
Securities and Exchange Commission on June 30, 2005, as updated by the Current
Report on Form 8-K filed with the Securities and Exchange Commission on December
9, 2005. Other factors and assumptions not identified above are also involved in
the preparation of forward-looking statements, and the failure of such other
factors and assumptions to be realized may also cause actual results to differ
materially from those discussed.
AAWW assumes no obligation to update such statements contained in this release
to reflect actual results, changes in assumptions or changes in other factors
affecting such estimates other than as required by law.
* * *
3
- --------------------------------------------------------------------------------------------------------------------
ATLAS AIR WORLDWIDE HOLDINGS
PRELIMINARY SYSTEM STATISTICS & TRAFFIC RESULTS
2006
OPERATING STATISTICS JAN FEB YEAR-TO-DATE
Operating Fleet (average during the month)
Aircraft count(1) 39.0 39.0 39.0
BLOCK HOURS
Scheduled Service 2,602.8 2,426.4 5,029.2
Commercial Charter 322.1 412.9 735.0
Military Charter 1,597.4 1,513.2 3,110.6
ACMI 5,298.0 4,504.4 9,802.4
Non Revenue 69.1 58.7 127.8
------- ------- -------
Total Block Hours 9,889.4 8,915.6 18,805.0
SCHEDULED SERVICE TRAFFIC
RTM's (000's) 88,843.6 90,251.6 179,095.2
ATM's (000's) 151,161.6 142,191.6 293,353.1
Load Factor 58.8% 63.5% 61.1%
(1) Operating Fleet excludes the following aircraft count that are dry leased or out of service:
Dry Leased 3.0 3.0 3.0
Out of Service - - -
2005
OPERATING STATISTICS JAN FEB YEAR-TO-DATE
Operating Fleet (average during the month)*
Aircraft count(1) 39.4 39.0 39.2
BLOCK HOURS
Scheduled Service 2,940.1 2,682.5 5,622.6
Commercial Charter 494.5 467.3 961.8
Military Charter 2,241.8 1,952.3 4,194.1
ACMI 6,927.5 5,919.2 12,846.7
Non Revenue 72.3 71.2 143.5
------- ------- --------
Total Block Hours 12,676.2 11,092.5 23,768.7
SCHEDULED SERVICE TRAFFIC
RTM's (000's) 101,851.3 101,328.8 203,180.1
ATM's (000's) 170,036.1 157,362.5 327,398.6
Load Factor 59.9% 64.4% 62.1%
(1) Operating Fleet excludes the following aircraft count that are dry leased or out of service:
Dry Leased 3.3 3.0 3.2
Out of Service* 0.3 1.0 0.6
* Includes the impact of one aircraft that was damaged and removed from
service on January 24, 2005, with respect to which AAWW negotiated a
cash-in-lieu-of-repair settlement with its insurance carriers.
- --------------------------------------------------------------------------------------------------------------------
4
- --------------------------------------------------------------------------------------------------------------------
ATLAS AIR WORLDWIDE HOLDINGS
PRELIMINARY SYSTEM STATISTICS & TRAFFIC RESULTS
PERCENTAGE CHANGE 2006 VS. 2005
OPERATING STATISTICS JAN FEB YEAR-TO-DATE
Operating Fleet (average during the month)
Aircraft count(1) (1.1%) 0.0% (0.5%)
BLOCK HOURS
Scheduled Service (11.5%) (9.5%) (10.6%)
Commercial Charter (34.9%) (11.7%) (23.6%)
Military Charter (28.7%) (22.5%) (25.8%)
ACMI (23.5%) (23.9%) (23.7%)
Non Revenue (4.4%) (17.5%) (10.9%)
------- -------- -------
Total Block Hours (22.0%) (19.6%) (20.9%)
SCHEDULED SERVICE TRAFFIC
RTM's (000's) (12.8%) (10.9%) (11.9%)
ATM's (000's) (11.1%) (9.6%) (10.4%)
Load Factor -1.1 pts -0.9 pts -1.0 pts
(1) Operating Fleet excludes the following aircraft count that are dry leased or out of service:
Dry Leased (9.7%) 0.0% (5.1%)
Out of Service (100.0%) (100.0%) (100.0%)
- --------------------------------------------------------------------------------------------------------------------
Note: All calculations presented in the tables above are based on unrounded numbers.
5