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.
Read more about this topic: Atlas Air
Famous quotes containing the word history:
“Classes struggle, some classes triumph, others are eliminated. Such is history; such is the history of civilization for thousands of years.”
—Mao Zedong (1893–1976)
“Every generation rewrites the past. In easy times history is more or less of an ornamental art, but in times of danger we are driven to the written record by a pressing need to find answers to the riddles of today.... In times of change and danger when there is a quicksand of fear under men’s reasoning, a sense of continuity with generations gone before can stretch like a lifeline across the scary present and get us past that idiot delusion of the exceptional Now that blocks good thinking.”
—John Dos Passos (1896–1970)
“Modern Western thought will pass into history and be incorporated in it, will have its influence and its place, just as our body will pass into the composition of grass, of sheep, of cutlets, and of men. We do not like that kind of immortality, but what is to be done about it?”
—Alexander Herzen (1812–1870)