Profile: Atlas Air Worldwide Holdings Inc (AAWW.OQ)
22 Aug 2014
Atlas Air Worldwide Holdings, Inc. (AAWW), incorporated in 2000, is a holding company with a principal operating subsidiary, Atlas Air, Inc. (Atlas). AAWW is a global provider of outsourced aircraft and aviation operating services. AAWW operates its service offerings in four segments: ACMI, AMC Charter, Commercial Charter and Dry Leasing. The Company manages and operates a fleet of 747 freighters. AAWW customers include airlines, express delivery providers, freight forwarders, the United States military and charter brokers. It provides global services with operations in Africa, Asia, Australia, Europe, the Middle East, North America and South America. During the year ended December 31, 2011, The Boeing Company (Boeing) delivered three of the 747-8F aircraft to the Company. AAWW also holds rights to purchase an additional 13 747-8F aircraft. In March 2013, Atlas Air Worldwide Holdings Inc's Titan Aviation acquired Boeing 777 Freighter.
The Company maintains a 49% interest in Global Supply Systems Limited (GSS) and has a 51% interest and 75% voting interest in Polar Air Cargo Worldwide, Inc. (Polar). AAWW is also the parent company of several wholly owned subsidiaries related to its dry leasing services (collectively Titan). As of December 31, 2011, Polar operated six 747-400 freighter aircraft that are subleased from the Company.
ACMI provides outsourced cargo aircraft operating solutions, including the provision of an aircraft, crew, maintenance and insurance. CMI, which is part of the Company’s ACMI business segment, provides outsourced cargo and passenger aircraft operating solutions, including the provision of crew, maintenance and insurance. All of the Company’s ACMI contracts provide that the aircraft remain under its exclusive operating control, possession and direction at all times. During 2011, ACMI’s operating revenue represented 45.2%, and as a percentage of its operated Block Hours, ACMI represented 74.9%. As of December 31, 2011, the Company had 19 aircraft under ACMI contracts expiring at various times from 2012 to 2028.
Dry Leasing provides aircraft and/or engine leasing solutions. The Company’s Dry Leasing segment provides for the leasing of aircraft and/or engines to customers primarily through Titan. During 2011, as a percentage of its operating revenue, Dry Leasing revenue represented 0.7%.
AMC Charter services provide cargo and passenger aircraft charter services for the AMC. The AMC Charter business provides full planeload passenger and cargo aircraft charter services to the United States Military. It participates in the United States Civil Reserve Air Fleet (CRAF) Program under contracts with the AMC, which cover a one-year period. The Company is a member of the team led by FedEx Corporation (FedEx). On January 20, 2012, Atlas received approval from the United States Department of Defense (DoD) Commercial Airlift Review Board to provide twin-jet 767-300ER passenger airlift service for the DoD. During 2011, as a percentage of its operating revenue, AMC Charter revenue represented 31.7%, and as a percentage of its operated Block Hours, AMC Charter represented 14%.
Commercial Charter provides cargo and passenger aircraft charters to customers, including brokers, cruise-ship operators, freight forwarders, direct shippers and airlines. The Company’s Commercial Charter business segment provides full planeload cargo and passenger capacity to customers for one or more flights based on a specific origin and destination. Its customers include charter brokers, cruise-ship operators, freight forwarders, direct shippers and airlines. In addition, Atlas provides limited airport-to-airport cargo services to select markets, including several cities in South America. During 2011, as a percentage of its operating revenue, Commercial Charter revenue represented 21.4%, and as a percentage of its operated Block Hours, Commercial Charter represented 10.1%.
The Company competes with Atlas, Air Atlanta Icelandic, Evergreen International Aviation, Kalitta Air, LLC, Southern Air, Inc., World Airways, FedEx, GE Capital Aviation Services, Guggenheim Aviation Partners, LLC, Air Castle Ltd., AerCap Holdings, N.V., International Lease Finance Corp., Ansett Worldwide Aviation Services, CIT Aerospace, Aviation Capital Group Corp. and RBS Aviation Capital.
Atlas Air Worldwide Holdings Inc
2000 Westchester Avenue
PURCHASE NY 10577