Atlas Air and Cainiao Expand Partnership with the Addition of a New Boeing 747-8 Freighter Linking China and The Americas

Rhea-AI Summary

Atlas Air, a subsidiary of Atlas Air Worldwide Holdings (Nasdaq: AAWW), has expanded its partnership with Cainiao Network by adding a new Boeing 747-8 Freighter under a long-term agreement. This aircraft will enhance capacity on routes between China and the Americas, scheduled to enter service in Q2 2022. The 747-8F boasts 20% higher payload and 16% lower fuel consumption compared to its predecessor, the 747-400F. The move aligns with Atlas Air’s commitment to sustainability and addresses the growing demand for e-Commerce logistics.

Positive

• Expansion of partnership with Cainiao Network enhances freight capacity on key routes.
• Introduction of Boeing 747-8 Freighter improves operational efficiency with 20% higher payload capacity and 16% lower fuel consumption.
• Long-term agreement indicates stable revenue potential from strong e-Commerce logistics demand.

Negative

• None.

PURCHASE, N.Y., Feb. 17, 2022 (GLOBE NEWSWIRE) -- Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), and Cainiao Network (“Cainiao”), the logistics arm of Alibaba Group, today announced the expansion of their strategic partnership by adding a new Boeing 747-8 Freighter under a long-term agreement to increase capacity on routes between China and the Americas.

This expansion builds upon Atlas Air’s partnership with Cainiao, and the new aircraft will enter service for Cainiao in the second quarter of 2022, linking China with the United States, Brazil and Chile.

This 747-8F aircraft is among the last 747s ever to be produced by Boeing. 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. The iconic Boeing 747 program has been in operation for over 50 years and will continue to play a critical role in keeping global supply chains moving for decades to come.

“We are very pleased to extend our strong partnership with Cainiao with the placement of one of our new 747-8Fs, the best performing widebody freighter in the industry with unique nose-loading capability,” said Atlas Air Worldwide President and Chief Executive Officer John W. Dietrich. “Cainiao is a leader in the fast-growing e-Commerce logistics market, and we look forward to continuing to support its global network with the superior and reliable service Atlas Air provides. This fuel-efficient, high-capacity aircraft reinforces the commitment to environmental stewardship that Atlas and Cainiao share.”

“Through our successful partnership, Cainiao has been able to offer our customers across the Americas with faster and more eco-friendly deliveries provided by Atlas’ global operating capabilities. We are excited to add the new Boeing freighter to our expanding partnership in response to the growing demand for e-Commerce and greener logistics across the world,” said William Xiong, Cainiao's Chief Strategist and General Manager for Export Logistics.

The Boeing 747-8 Freighter is the most capable, technologically advanced and environmentally friendly widebody freighter. The 747-8F provides 20% higher payload capacity and 16% lower fuel consumption than the very capable 747-400F.

In November 2021, Cainiao expanded its partnership with Atlas Air to include daily charter flights operated between China and Latin America in response to the growth of cross-border trade between China and Latin America.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2bfe97a7-5b10-4130-a9e2-782b6db67886

About Cainiao Network:

Founded in 2013, Cainiao Network (“Cainiao”) is a smart logistics company and the logistics arm of Alibaba Group. As part of its commitment to create customer value, it adopts a collaborative approach to logistics that aims to improve efficiency and customer experience for all players along the supply chain. It carries forward Alibaba’s mission of making it easy to do business anywhere by aiming to deliver anywhere in China within 24 hours, and across the globe within 72 hours.

Media Contact
Jin WU
jinwujun@alibaba-inc.com

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

FAQ

What does Atlas Air's new agreement with Cainiao Network involve?

Atlas Air has added a new Boeing 747-8 Freighter to its fleet under a long-term agreement to increase freight capacity on routes between China and the Americas.

When will the new Boeing 747-8 Freighter enter service?

The new aircraft is scheduled to enter service in the second quarter of 2022.

How does the Boeing 747-8 Freighter compare to the 747-400F?

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

What is the significance of the partnership between Atlas Air and Cainiao Network?

The partnership supports e-Commerce logistics growth, allowing for faster, eco-friendly deliveries across the Americas.

What are the environmental benefits of the new Boeing 747-8 Freighter?

The aircraft supports Atlas Air's commitment to environmental stewardship by reducing emissions, resource consumption, and noise.