Negotiations for joint collective bargaining agreement continue

Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today announced that its wholly-owned subsidiaries Atlas Air, Inc. and Southern Air, Inc. have reached an agreement with International Brotherhood of Teamsters (IBT) Locals 2750 and 1224 for an interim pay increase for their pilots.  The ten percent pay increase is effective as of May 1.

“We wanted to provide this interim increase to our pilots who are working so hard during this difficult time.  Reaching this agreement with our IBT Locals underscores our deep appreciation of the efforts of our pilots,” said John W. Dietrich, President and Chief Executive Officer, Atlas Air Worldwide.  “While we continue to manage through this current pandemic situation, we also remain focused on completing the joint collective bargaining agreement we have been pursuing in connection with the merger between Atlas Air and Southern Air.”

The company and the IBT have been in merger negotiations for a joint contract for the more than 2,200 pilots that fly for Atlas Air and Southern Air.