Atlas Air Worldwide Holdings, Inc. Orders Twelve New Boeing 747-8 Freighter Aircraft
(Source: Atlas Air Worldwide Holdings, Inc.; issued Sept. 12, 2006)
PURCHASE, N.Y. --- Atlas Air Worldwide Holdings, Inc. (AAWW), a leading provider of global air cargo services, today announced that it has placed an order with the Boeing Company for 12 new 747-8 Freighters, valued at about $3.4 billion at list prices, with options and rights to acquire up to 14 additional aircraft.

With this order, AAWW continues its market leadership by launching the next generation 747 Freighter for its customers. AAWW will begin to take delivery of the 747-8F in 2010, and expects all 12 aircraft to be in service by the end of 2011.

"With this order, AAWW remains the leader in providing the capacity and operational flexibility required by our air cargo customers using the state-of-the-art freighter platform," said William J. Flynn, President and CEO of Atlas Air Worldwide Holdings. "Worldwide air cargo traffic is projected to grow by over six percent annually for the next two decades, tripling over current traffic levels for our ACMI, Charter and Scheduled Service customers. With its increased capacity, greater range at equivalent payloads, and lower operating costs, the 747-8F gives our customers a cutting-edge aircraft to meet this growth in global air cargo demand. We are very pleased at our customers' enthusiasm for this next-generation freighter, and we look forward to putting it into service for them."

"We are proud to have been chosen by this great customer for its new fleet order," said Scott Carson, President and CEO of Boeing Commercial Airplanes. "Atlas has been instrumental in making the 747 Freighter family the industry standard and, with the addition of the new 747-8 Freighter, Atlas continues its legacy of delivering high value and quality customer service."

Added Mr. Flynn, "This aircraft order is a significant investment in our business, and is the cornerstone of the Company's long-term fleet strategy, reinforcing our position as the most advanced, most efficient, and most reliable air cargo services provider. Simply put, with the 747-8F, we remain the first and best in air cargo outsourcing, offering our customers the most technologically advanced solutions, as we have since our introduction of the 747-200F in 1993 and the 747-400F in 1998. Based on all considerations, we have selected the investment we believe to have the highest return for our business."

This next generation 747 Freighter improves on the current best-in-class 747-400F with 16 percent more payload capacity, and with improved fuel burn. The larger airframe allows it to hold seven additional standard pallets, and is equipped with customer-preferred nose-door-loading capabilities. In addition, the 747-8F will be powered by GE's new GEnx engines, which deliver greater fuel efficiency, engine durability, weight reduction and overall lower operating costs over today's engines.

AAWW currently operates the world's largest fleet of Boeing 747 Freighters, with 20 747-400Fs and 15 747-200 freighter aircraft. The 747-8F, which has a common pilot-type rating and more than 70 percent parts commonality with the 747-400F, assures the Company a seamless and low-cost introduction of this new aircraft into the AAWW fleet.

AAWW is the parent company of Atlas Air, Inc. (Atlas) and Polar Air Cargo, Inc. (Polar), which together operate the world's largest fleet of Boeing 747 freighter aircraft. (ends)

Atlas Air Worldwide Holdings Orders GEnx-Powered Boeing 747-8 Freighter Aircraft
(Source: GE Aviation; issued Sept. 12, 2006)
EVENDALE, Ohio --- Atlas Air Worldwide Holdings has announced the purchase of 12 firm Boeing 747-8 freighter aircraft powered by GEnx engines.

Delivery of the aircraft will begin in 2010. The engine deal is valued at more than $700 million. With this order, a total of 40 firm Boeing 747-8 freighters have been sold with the engine deals valued at more than $2 billion.

Atlas Air Worldwide Holdings, Inc. is the parent company of Atlas Air, Inc. (Atlas) and Polar Air Cargo, Inc. (Polar), which together operate the world’s largest fleet of Boeing 747 freighter aircraft. Atlas and Polar offer scheduled air cargo service, cargo charters, military charters, and ACMI aircraft leasing in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis.

Detailed design of the GEnx engine for the Boeing 747-8 aircraft is underway. The engine contains the same technological advances of the GEnx engine for the Boeing 787 Dreamliner aircraft, but it is resized to fit the 747-8 aircraft. The front fan of the GEnx engine on the 747-8 aircraft will be 105" in diameter compared with 111" for the 787 application. The engine will be rated at 66,500 pounds of thrust for the 747-8 aircraft.

Certification testing on the GEnx for the 747-8 aircraft will begin next year. Flight-testing aboard the new 747-8 is scheduled for late 2008.

The GEnx is based on the highly successful GE90 architecture and will succeed GE's CF6 engine family, which is the most reliable and best-selling engine on wide-body aircraft. The engine will provide significantly better specific fuel consumption and payload performance than GE's CF6 engines.

The GEnx is the world's only jet engine with both a front fan case and fan blades made of composites, which provide for greater engine durability, weight reduction and lower operating costs. The fan blades will utilize GE90 composite technology that has performed well, with no routine on-wing maintenance required and no in-service issue for more than a decade. The GEnx will operate with 18 fan blades (50 percent fewer than the CF6) at noise levels lower than any large GE commercial engine. The GEnx also features a new combustor for efficient fuel mixing before ignition, resulting in significantly lower oxides of nitrogen (Nox) levels.

GE - Aviation, an operating unit of General Electric Company, is one of the world's leading manufacturers of jet engines for civil and military aircraft. GE also is a world-leading provider of maintenance and support services for jet engines.

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