GlobeNewswire Inc | Jan 27, 2022 08:00AM EST

January 27, 2022

PURCHASE, N.Y., Jan. 27, 2022 (GLOBE NEWSWIRE) -- Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), today announcedan 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 strongcustomer demand for Atlas services and dedicated international widebody airfreight capacity.

The agreement between Flexport and Atlas Air will broaden Flexports network of dedicated freighters to include service from Asia to Los Angeles (LAX), Miami (MIA) and soon, Chicago (ORD). The additional freighter will increase Flexports 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.

Were 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 Flexports 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 isa leading global provider of outsourced aircraft and aviation operating services. It isthe 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 worlds 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 Worldwides press releases, SEC filings and other information may be accessed through the companys home page, www.atlasairworldwide.com.

About Flexport:

We believe trade can move the human race forward. Thats why its our mission to make global trade easy for everyone. Flexport is the platform for global logisticsempowering buyers, sellers and their logistics partners with the technology and services to grow and innovate. Companies of all sizesfrom emerging brands to Fortune 500sused 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