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April 2, 2020, 9:00 a.m. EDT

Federal Court Decision Provides Clear Path for Completing Contract Negotiations for Atlas Air and Southern Air Pilots

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PURCHASE, Apr 02, 2020 (GLOBE NEWSWIRE via COMTEX) -- Atlas Air Worldwide Holdings, Inc. /zigman2/quotes/200338181/composite AAWW -0.50% confirmed that Tuesday, the federal district court in Washington D.C. ruled that the arbitration awards issued in favor of Atlas Air, Inc. and Southern Air, Inc. last summer are binding and enforceable. The court also directed the pilot union, the International Brotherhood of Teamsters, to provide the companies with an Integrated Seniority List by May 15, 2020, followed by joint collective bargaining for a finite period, with unresolved issues, if any, decided by binding arbitration.

The company said it is particularly grateful for the union's strong collaboration in working to ensure the health and wellbeing of our crews operating during this coronavirus situation, and remains focused on working with the union leaders to negotiate the new joint contract.

"I want to thank all of our employees for their extraordinary commitment and service during these unprecedented times. Together as a team, we are supporting the efforts of companies and agencies across the public and private sectors to deliver life-saving supplies to where they are needed the most. Our pilots play a critical role in the global fight against coronavirus, and we are grateful for their ongoing dedication," said John W. Dietrich, President and Chief Executive Officer, Atlas Air Worldwide.

"Despite the challenges of this global epidemic, we remain focused on completing an updated contract for our pilots. With respect to negotiations, we continue to meet regularly with union representatives and are making meaningful progress," Mr. Dietrich said.

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 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 .







        Contacts:  Debora Coffey (Media) -�??(914) 701-8951
                   Eric Camadeco (Investors) - (914) 701-8926
        


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/zigman2/quotes/200338181/composite
US : U.S.: Nasdaq
$ 60.24
-0.30 -0.50%
Volume: 343,404
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.57 billion
Rev. per Employee
$817,626
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