Cmi Agreement

Atlas Air Worldwide Holdings has extended its strategic agreement with Nippon Cargo Airlines (NCA) to put into service three Boeing 747-400 freighters owned by the NCA. The agreement brings to five the total number of B747-400Fs operated by Atlas Air on behalf of NCA. As with the first two aircraft, the three additional aircraft will operate on a crew, maintenance and insurance (MIB) basis for NCA. Last November, NCA recorded a loss in its second quarter of operations following the temporary grounding of its entire cargo fleet, eight B747-8F and three B747-400F, while security checks were carried out. Alongside the annual accounts, the company`s parent company, NYK Group, confirmed that NCA would focus on its eight fleet of B747-8Fs and “subcontract” its B747-400F, without giving further details. Atlas Air announced today that the NCA`s incremental aircraft will be used on “key routes in the fast-growing trans-Pacific market” and will be put into service in April, July and September 2019. In August 2017, Atlas Air reached an agreement to operate a second B747-400F for NCA, with “an opportunity for additional aircraft in the future.” The first cargo ship was commissioned in early 2017. Bill Flynn, President and Chief Executive Officer of Atlas Air Worldwide, said today, “We are pleased to expand our partnership with Nippon Cargo Airlines,” he said, adding, “NCA has selected Atlas Air to operate its entire 747-400F fleet, and we look forward to continuing to offer NCA and its customers unparalleled service and a platform for future global expansion.” “The partnership with Atlas has allowed NCA to expand our network to capitalen growth opportunities across Asia,” said Hitoshi Oshika, President and Chief Executive Officer of NCA.