Atlas Air Worldwide GEnx Engine Inspection Program

PURCHASE, N.Y., September 17, 2012 – Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today issued the following statement in response to inquiries about the General Electric GEnx-2B engines serving the company’s Boeing 747-8 Freighter fleet:
Atlas Air Worldwide’s industry leadership and our operations are based on a deep commitment to and a track record of safety, compliance and security.

Reflecting our commitment and track record, we have worked closely and continually with General Electric regarding the GEnx-2B engines serving our new Boeing 747-8 Freighters, five of which are currently in service and four of which remain to be delivered to us.

In conjunction with GE, we established a plan to inspect each of the engines serving our existing 747-8s and will work with GE to inspect the engines that will power our remaining 747-8 deliveries.

To date, the inspections have not uncovered any issues with our engines and have not resulted in any loss of flying time by our 747-8 Freighters.

We have also worked with GE to establish a plan to re-inspect each of our GEnx-2B engines at appropriate intervals.

Future periodic inspections of our GEnx engines are planned to be carried out during regularly scheduled maintenance checks on our 747-8 aircraft.

As a result, we do not expect re-inspections of our GEnx engines to disrupt our ability to continue to provide safe, value-added 747-8F service to our customers.

As always, reflecting our commitment to and our track record of safety, compliance and security leadership, we will fully comply with any and all directives issued by the Federal Aviation Administration and other regulators with respect to the operation of our aircraft.