NASDAQ stock

Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW)Enters Agreement With Asiana Cargo

A unit of Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW), Atlas Air, has entered into a deal with Asiana Cargo in which one of Atlas’ freighters will be made available for use by Asiana Cargo. Asiana Airlines owns the South Korean-based Asiana Cargo.

In a press release, Atlas Air Worldwide’s chief executive officer and president, William J. Flynn expressed delight at bagging the new client. He promised to offer unmatched service to Asiana Cargo and its clients with an eye on expansion in the future.

New cargo service operator

Asiana Cargo’s executive vice president, Kwang Suk Kim, had equally kind words for the new service provider.

“Asiana Cargo is pleased to announce its partnership with Atlas Air, the most reliable air cargo partner. Asiana appreciates Atlas’ outstanding cooperation and expects to serve Asiana’s clients with enhanced freighter services,” Kwang Suk Kim said.

In the beginning, Atlas Air will operate a Boeing 747-400 on several routes that cover the transpacific region. Specifically, this will be connecting various destinations in the United States with South Korea.

Transpacific routes

The agreement between the NASDAQ stock and Asiana Cargo will commence later in the month. At the moment, Asiana Cargo operates freighter services to various cities in the United States. This includes Dallas-Fort Worth, Atlanta, Miami, Chicago, New York, Seattle, San Francisco and Los Angeles. Asiana Cargo’s fleet at present consists of 11 aircraft – one Boeing 767-300 ERF and ten freighters of the Boeing 747-400 model. Outside the United States, the South Korean-based firm flies to other destinations in Europe such as Germany, Italy, Austria, Russia, and Belgium. Some of the destinations in Asia that it flies to includes Japan, Hong Kong, Vietnam, Singapore, and China.

Several weeks ago, Atlas Air Worldwide signed a similar agreement with Nippon Cargo Airlines. This was to operate a Boeing 747-400 for the freight carrier. Atlas Air Worldwide has also expanded into carrying cargo for online retailers like Amazon.com, Inc. (NASDAQ:AMZN) after it recently signed a deal to acquire and operate freighter jets for Prime Air service in the United States.

On Friday shares of Atlas Air Worldwide Holdings Inc fell by 0.56 percent. The NASDAQ stock closed the day at $53.50 per share.

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