Corporate Profile for Atlas Air, Inc., dated June 25, 1999.

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  Published Date:   June 25, 1999  Company Name:     Atlas Air, Inc.  Address:          538 Commons Drive                   Golden, CO  80401  Main Telephone  Number:          303/526-5050  Internet Home  Page Address   (URL)           www.atlasair.com  Chief Executive  Officer:         Michael A. Chowdry  Chief Financial  Officer:         Steven C. Nevin  Investor Relations  Contact:         Suzanne Pierce  Business number: 303/526-5050  E-mail address:  spierce@atlasair.com  Public Relations  Contact:         Vicki L. Foster  Business number: 303/526-5050  E-mail address:  vfoster@atlasair.com  Industry:         Air Cargo  Trading Symbol/  Exchange:        NYSE:CGO 

Company description: Atlas Air, Inc., based in Golden, Colo., is a worldwide cargo carrier that operates a fleet of Boeing 747 freighter airplanes under long-term contracts with the world's major international airlines. Michael Chowdry founded the company in April 1992, with one 747-200F serving China Airlines. The initial service was under the name of Atlas Air, Inc. In 1995, Atlas issued shares to the public and traded on NASDAQ under ATLS. On Nov. 11, 1997, the company transferred its listing to the New York Stock Exchange and trades under CGO.

The company's fleet includes 23 Boeing 747-200's and 5 Boeing 747-400's and lands in airports in 76 cities and 42 countries. Revenues for the fiscal year ending in Dec. 31, 1998, were $422.2 million.

The majority of the company's income is obtained under fixed-rate, long-term contracts with major airlines. Under these contracts, Atlas provides the aircraft, crew, maintenance, and insurance (ACMI) for clients such as Alitalia, China Airlines, British Airways, Fed Ex and Cargolux. The customers pay all other operating expenses including fuel, airport fees and services, and cargo insurance. One aircraft is dedicated to the customer under each contract and the customer guarantees a minimum level of usage. By offering its services exclusively to airlines, the company avoids competitive conflicts of interest and through its contracts creates stability of income for itself and guaranteed availability of space to its customers.

The company is the only pure air cargo outsourcer and the largest ACMI carrier in the freight service business. Its strategy is to be the low-cost carrier and to provide a high level of service to its customers. To do this, the company maintains a fleet of 747 freighter aircraft that are considered the most efficient and cost effective for the market segments served. Atlas is able to offer freight services at up to 30% less than its customer's internal costs.