History
Polar was formed in 1993 as a joint venture between Southern Air Transport and GE Capital Aviation Services (GECAS). It started operations in June 1993 and began with charter flights, later adding scheduled services. During 1994, Polar was certified as a supplemental air carrier by the Federal Aviation Administration and on 4 July 1994 as a US all-cargo carrier by the United States Department of Transportation. After several years of continued growth, the remainder of the company was acquired by GECAS.
In November 2001, Polar was acquired by Atlas Air Worldwide Holdings (AAWW), whose Atlas Air subsidiary is a leading provider of ACMI (Aircraft, Crew, Maintenance and Insurance) freighter leasing. Polar became the scheduled service provider for AAWW, while Atlas continued to supply Boeing 747 freighters on a wet-lease basis to major airlines. In October 2006 it was announced that DHL would be acquiring a 49% stake in Polar, with that deal now finalised. Polar is still majority-owned by Atlas Air Worldwide Holdings (51%), and has 736 employees (as of March 2007).
Read more about this topic: Polar Air Cargo
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