History
The airline was founded in April 1992 by the late Pakistani American aerospace enthusiast Michael Chowdry, to specialise in the long-term contract outsourcing of its Boeing 747 aircraft. It started operations in 1993 with one Boeing 747 and contracted by China Airlines. In 1995 Atlas began trading publicly on the NASDAQ, and in 1997 appeared on the New York Stock Exchange. An initial public offering of 4 million shares was made in August 1998. In 2001 the airline introduced a new program of leasing and services, based on the Aircraft, Crew, Maintenance and Insurance(ACMI) model. Under this new program, Atlas Air cargo planes would be available to other airlines for operations such as charter flights. In July 2004 Atlas Air completed its restructuring plan and emerged from Chapter 11 bankruptcy protection. Recently, AAWWH announced that DHL has bought long term rights to carry some of its cargo on Polar's aircraft.
In March 2010 Atlas Air was awarded a nine-year contract for the operation of the Boeing 747 Large Cargo Freighter (LCF) 'Dreamlifter' for transporting aircraft parts to Boeing from suppliers around the world. It commenced operation in September 2010.
Atlas Air Worldwide Holdings, Inc. (NASDAQ: AAWW) wholly owns Atlas Air, Polar Air Cargo (51%), and a share of Global Supply Systems (49%). As a result of Atlas Air Worldwide Holdings' acquisition of Polar in November 2001, the Atlas and Polar fleets are staffed by the same group of pilots (as of January 1st, 2012). However, for marketing reasons the Polar brand will remain distinct. Atlas Air Worldwide Holdings is a public company with 1725 employees and 630 million USD market capitalization.
The airline was named after Atlas, a Titan in Greek mythology, who carried the heavens on his shoulders. Their symbol on the plane's tail is a golden man carrying a golden world.
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Famous quotes containing the word history:
“Philosophy of science without history of science is empty; history of science without philosophy of science is blind.”
—Imre Lakatos (1922–1974)
“The history of the genesis or the old mythology repeats itself in the experience of every child. He too is a demon or god thrown into a particular chaos, where he strives ever to lead things from disorder into order.”
—Ralph Waldo Emerson (1803–1882)
“What is most interesting and valuable in it, however, is not the materials for the history of Pontiac, or Braddock, or the Northwest, which it furnishes; not the annals of the country, but the natural facts, or perennials, which are ever without date. When out of history the truth shall be extracted, it will have shed its dates like withered leaves.”
—Henry David Thoreau (1817–1862)