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:
“If man is reduced to being nothing but a character in history, he has no other choice but to subside into the sound and fury of a completely irrational history or to endow history with the form of human reason.”
—Albert Camus (1913–1960)
“A man will not need to study history to find out what is best for his own culture.”
—Henry David Thoreau (1817–1862)
“In history an additional result is commonly produced by human actions beyond that which they aim at and obtain—that which they immediately recognize and desire. They gratify their own interest; but something further is thereby accomplished, latent in the actions in question, though not present to their consciousness, and not included in their design.”
—Georg Wilhelm Friedrich Hegel (1770–1831)