Investor Alert

Jan. 28, 2020, 6:42 p.m. EST

Atlas Air and Southern Air Prevail in Dismissing U.S. District Court Actions Brought by Teamsters Pilot Union

Decisions Provide Clear Path Forward to Completing Contract Negotiations

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PURCHASE, N.Y., Jan 28, 2020 (GLOBE NEWSWIRE via COMTEX) -- Atlas Air Worldwide Holdings, Inc. /zigman2/quotes/200338181/composite AAWW -0.50% today confirmed that Atlas Air, Inc. and Southern Air, Inc. have prevailed in dismissing two legal actions brought by their pilot union, the International Brotherhood of Teamsters. The union filed these lawsuits last summer, seeking to vacate the management grievance decisions issued in favor of the companies by arbitrators Richard Bloch and George Nicolau, respectively.

"With these rulings, we have a clear and timely path forward to delivering the updated contract that our pilots deserve. This is good news for our pilots," said John W. Dietrich, President and Chief Executive Officer, Atlas Air Worldwide. "We remain committed to working collaboratively with union leaders to efficiently negotiate and complete the contract."

The decisions rendered by the U.S. District Court for the District of Columbia upheld the companies' position that the merger provisions in both the Atlas Air and Southern Air collective bargaining agreements apply. The merger provisions provide for a defined period of bargaining followed by binding interest arbitration for any unresolved issues.

With these court rulings now rendered, the union is required to promptly provide the companies with an integrated seniority list of pilots, which will enable negotiations to proceed more expeditiously in reaching a new, competitive pilot contract.

For more information about the contract negotiations process and updates, please visit AtlasAir5YPilots.com and follow @AtlasAir5Y on Twitter.

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., Southern Air Holdings, 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, 757 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 .


Dan Loh (Investors) -�??(914) 701-8200

Debbie Coffey (Media) - (914) 701-8951


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US : U.S.: Nasdaq
$ 60.24
-0.30 -0.50%
Volume: 343,404
Sept. 25, 2020 4:00p
P/E Ratio
Dividend Yield
Market Cap
$1.57 billion
Rev. per Employee

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