May 7, 2020

To:     Atlas Air and Southern Air Pilots

From: John Dietrich, President & Chief Executive Officer

In our sincere appreciation of the efforts of our pilots during these challenging times, we are pleased to announce we will be providing a ten percent pay rate increase for all Atlas and Southern Air pilots, effective as of May 1, 2020.

This increase was proposed by the Company and agreed to by your Union leadership. The new pay rates will remain in effect while we continue negotiations to reach a new Joint Collective Bargaining Agreement (JCBA) in connection with our merger between Atlas Air and Southern Air.  This interim pay increase is in addition to the considerations already in place in the Memorandums of Understanding (MOUs) for Atlas Air and Southern Air pilots.  Communications will be forthcoming further detailing the increases.

We recognize these JCBA negotiations and the related procedural disputes have gone on longer than anyone could have anticipated when the merger of Atlas Air and Southern Air was announced.  We think it is important to recognize your contributions now.

We are fortunate to be able to continue safe and efficient operations in this environment, while also contributing to the global fight against coronavirus through the transport of critical supplies for the medical community.

I want to thank every one of our pilots for your hard work, and extra effort put forth through this difficult time. I am proud of our team and more than ever focused on the future we will build together.