Atlas Air and Flexport Expand Partnership

Rhea-AI Summary

Atlas Air Worldwide has expanded its partnership with Flexport by adding a third Boeing 747-400 freighter to its fleet starting September 2022. This long-term charter arrangement underscores significant demand for airfreight services. The move will enhance Flexport’s network, increasing dedicated airfreight capacity by 50% and improving service options from Asia to major U.S. cities. The partnership aims to bolster supply chain resilience for global shippers, with expanded origins and destinations for improved logistics.

Positive

• Expansion of partnership with Flexport indicates strong customer demand.
• Addition of a third freighter increases Flexport's dedicated capacity by 50%.
• Enhanced service flexibility across major U.S. cities boosts logistics for global shippers.

Negative

• None.

Add Third Boeing 747 Freighter

PURCHASE, N.Y., Jan. 27, 2022 (GLOBE NEWSWIRE) -- Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), today announced an agreement to expand its partnership with Flexport, the technology platform for global logistics, to add a third Boeing 747-400 freighter to its existing fleet beginning in September 2022. This long-term charter agreement reflects the strong customer demand for Atlas’ services and dedicated international widebody airfreight capacity.

The agreement between Flexport and Atlas Air will broaden Flexport’s network of dedicated freighters to include service from Asia to Los Angeles (LAX), Miami (MIA) and soon, Chicago (ORD). The additional freighter will increase Flexport’s dedicated airfreight capacity from Atlas Air by 50% and allow for enhanced schedule flexibility as new origins and destinations are added in 2022 and beyond. The move eastward across the United States will improve airfreight accessibility for global shippers and enable them to design airfreight networks that best serve their interests as part of strong, resilient multi-modal supply chain strategies.

“We look forward to enhancing our long-term relationship with Flexport as we continue to support the growth and expansion of its network with dedicated freighters,” said Michael T. Steen, Executive Vice President and Chief Commercial Officer, Atlas Air Worldwide. “Atlas Air is strategically positioned to serve Flexport with an unparalleled fleet of widebody freighters and our vast global footprint. Our team is pleased to deliver even more value to Flexport and its customers through the world-class service they can depend on from Atlas Air.”

“We’re thrilled to expand our partnership with Atlas Air Worldwide to bring additional capacity to Flexport clients amid a turbulent time in airfreight,” said Neel Jones Shah, Executive Vice President and Global Head of Airfreight at Flexport. “This strategic agreement will strengthen Flexport’s dedicated capacity network and provide global shippers with additional origins and destinations throughout Asia and the United States, ultimately enabling them to build more flexible and resilient supply chains.”

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 Flexport:

We believe trade can move the human race forward. That’s why it’s our mission to make global trade easy for everyone. Flexport is the platform for global logistics—empowering buyers, sellers and their logistics partners with the technology and services to grow and innovate. Companies of all sizes—from emerging brands to Fortune 500s—used Flexport technology to move nearly $19B of merchandise across 112 countries in 2021.

Contacts:	Investors – InvestorRelations@atlasair.com
	Media – CorpCommunications@atlasair.com
Flexport Media Contact:	cdebenedictis@flexport.com

FAQ

What is the significance of Atlas Air's new freighter addition?

The addition of a third Boeing 747-400 freighter enhances Atlas Air's service capacity and flexibility for Flexport's logistics network.

How does the new agreement impact Flexport's operations?

The agreement increases Flexport's airfreight capacity by 50%, allowing for improved service between Asia and key U.S. locations.

When will the new Boeing 747 freighter start operations?

The new Boeing 747-400 freighter is scheduled to begin operations in September 2022.

What cities will be serviced under the expanded partnership?

The additional freighter will service Los Angeles, Miami, and soon, Chicago.