Atlas Air Extends Partnership with Qantas Freight

Rhea-AI Summary

Atlas Air has announced an extension of its partnership with Qantas Freight, which began in 2004. This agreement will see Atlas Air provide additional long-haul capacity utilizing Boeing 747-400Fs to enhance service links between Australia, Asia, and the U.S. The extension aims to meet the growing demand for air freight while supporting Qantas's global network expansion. Both companies are committed to sustainability and the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), with initiatives in place to improve fuel efficiency and lower emissions.

Positive

• Extension of partnership with Qantas Freight enhances service capacity.
• Additional Boeing 747-400F added to meet rising air freight demand.
• Commitment to sustainability initiatives aligns with industry standards.

Negative

• None.

PURCHASE, N.Y., Aug. 11, 2022 (GLOBE NEWSWIRE) -- Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), today announced an agreement to extend its long-standing partnership with Qantas Freight, the leading air freight carrier in Australia. The successful partnership between Atlas Air and Qantas Freight began in 2004.

Under the extended agreement with Qantas Freight, Atlas Air will provide long-haul, widebody main deck capacity with two Boeing 747-400Fs operating its existing network linking Australia, Asia and the U.S. An additional 747-400F has also been extended to service the one-way U.S.-Australia-Hong Kong routing, boosting capacity to meet customer demand.

“We are pleased to extend our long-standing partnership with Qantas Freight and support its customers and network,” said John W. Dietrich, Atlas Air Worldwide President and Chief Executive Officer. “This important extension with Qantas Freight comes at a time of significant growth in the air freight industry. We look forward to supporting Qantas Freight as it continues to expand its global freighter network.”

Catriona Larritt, Executive Manager, Qantas Freight, added: “Air freight remains in high demand for efficient deliveries for urgent, time-sensitive movements. Continuing our relationship with Atlas Air will ensure we can maintain these important air freight connections between Australia and several of the largest global trading hubs in Asia and the U.S, supporting long-standing relationships with our key customers.”

Both Atlas Air and Qantas are committed to meeting the industry-wide 2050 sustainability targets set forth by the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).

“In addition to abiding by CORSIA, we have set goals to lower our aircraft emissions and improve our fuel efficiency as part of our commitment to promote a cleaner environment,” Mr. Dietrich said. “Atlas is proud to work with Qantas Freight in the Qantas Future Planet initiative that will enable us to offset a majority of the emissions from the flights we operate on behalf of the airline.”

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 Qantas Freight:

Qantas Freight is the air freight business of the Qantas Group, managing the belly space of Qantas and Jetstar domestic and international passenger services as well as operating a fleet of freighter aircraft both in Australia and overseas. Qantas Freight has been helping to keep our nation connected by moving air freight across the country and around the world for more than 100 years.

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

FAQ

What is the significance of Atlas Air's partnership with Qantas Freight?

The partnership enables Atlas Air to enhance its service capacity, providing critical air freight links between Australia, Asia, and the U.S.

When did Atlas Air and Qantas Freight start their partnership?

The partnership began in 2004 and has been extended to meet current demand.

What type of aircraft will Atlas Air use in the extended agreement with Qantas Freight?

Atlas Air will utilize Boeing 747-400Fs to provide long-haul capacity.

How does this partnership impact the air freight industry?

The extension supports growth in the air freight sector by addressing increased demand for efficient deliveries.

What sustainability goals are outlined in the agreement between Atlas Air and Qantas Freight?

Both companies are committed to meeting CORSIA sustainability targets and improving fuel efficiency to reduce emissions.