Atlas Air Worldwide Holdings, Inc. Announces Pricing of Common Stock Offering

PURCHASE, N.Y.--(Business Wire)--
Atlas Air Worldwide Holdings, Inc. (AAWW or the Company) (Nasdaq: AAWW), a
leading provider of global air cargo assets and outsourced aircraft operating
services, today announced that it has priced its offering of 4,000,000 shares of
its common stock. The public offering price will be $25.75 per share. The
underwriters will also have a 30-day option to purchase 600,000 additional
shares of common stock from the Company at the public offering price, less the
underwriting discount. Upon the closing of the offering, which is expected to
occur on November 3, 2009, and which is subject to satisfaction of various
customary closing conditions, AAWW will receive net proceeds of approximately
$98.1 million, assuming no exercise of the underwriters` option to purchase
additional shares. The Company expects to use the proceeds for general corporate
purposes, including the financing of capital expenditures or funding of
potential acquisitions or other business transactions.

Morgan Stanley & Co. Incorporated and Goldman, Sachs & Co. are serving as the
joint book-running managers for the offering and BB&T Capital Markets, Stephens
Inc. and CJS Securities, Inc. are serving as co-managers.

The offering is being made solely by means of a prospectus supplement to the
prospectus included in the Registration Statement filed by the Company with the
Securities and Exchange Commission and previously declared effective. This press
release shall not constitute an offer to sell or the solicitation of an offer to
buy any securities, nor shall there be any sale of these securities in any state
or jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of any such
state or jurisdiction.

Copies of the prospectus supplement and accompanying base prospectus related to
this offering may be obtained, when available, from Morgan Stanley & Co.
Incorporated, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention:
Prospectus Department, or by e-mail at prospectus@morganstanley.com; or Goldman,
Sachs & Co., 85 Broad Street, New York, NY 10004, Attention: Prospectus
Department, Toll Free 1-866-471-2526, or by e-mail at
prospectus-ny@ny.email.gs.com.

About Atlas Air Worldwide Holdings, Inc.:

AAWW is the parent company of Atlas Air, Inc. (Atlas) and Titan Aviation Leasing
Limited (Titan), and is the majority shareholder of Polar Air Cargo Worldwide,
Inc. (Polar). Through Atlas and Polar, AAWW operates the world`s largest fleet
of Boeing 747 freighter aircraft.

Atlas, Titan and Polar offer a range of air cargo and outsourced aircraft
operating services that include ACMI aircraft leasing - in which customers
receive a dedicated aircraft, crew, maintenance and insurance on a long-term
lease basis - express network and scheduled air cargo service, military
charters, commercial charters, and dry leasing of aircraft and engines.

Atlas Air Worldwide Holdings, Inc.
Investors
Dan Loh, 914-701-8200
or
Media
Mark Tender, 914-701-8192

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