June 13, 2019

Union Ordered to Promptly Participate in Merger Process for New Joint Collective Bargaining Agreement

Positive Step Toward Company’s Goal of Increasing Pilot Pay as Soon as Possible

PURCHASE, N.Y. – Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today confirmed that its subsidiary, Southern Air, Inc., has prevailed in an important arbitration against the union that represents Southern Air’s pilots, the Airline Professionals Association, Teamsters Local 1224. 

The June 12, 2019, arbitration decision orders the union to promptly proceed with contractually required negotiations for a new joint collective bargaining agreement (JCBA) in connection with the merger of Southern Air and Atlas Air, Inc. While union leaders have extensively said publicly that the company has delayed negotiations, the decision states that:

“We can conclude with some certainty, however, that there has been a delay inspired by the Union’s misapprehension of the contractual requirements and that they must now respond vigorously to the Company’s request to proceed.” 

This is a positive step in the company’s goal of completing a new JCBA that increases pay for Southern Air and Atlas Air pilots as soon as possible.

“Had the union leaders honored their contractual commitments when we announced the merger back in 2016, Southern Air and Atlas Air pilots would have already had their new contract – and a pay increase – by now,” said Atlas Air Worldwide President and Chief Executive Officer William J. Flynn. “We hope the union will agree that it is time to end unnecessary delays and make progress for our pilots. 

“We value the dedication of our crews, and we look forward to further recognize their significant contributions to the development and growth of our business. We are committed to working with the union for a JCBA that enhances overall pay and benefits for our more than 2,000 Southern Air and Atlas Air pilots.” 

For more information about the arbitration decision, the contract negotiations process and future 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.

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