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Atlas Air history
Atlas Air company history timeline
1992: Atlas is founded.
Atlas Air began operations in 1992.
Polar was established in 1993 as a joint venture between Southern Air Transport and Polaris.
By the beginning of 1994, coming off of $40.9 million in sales for the previous year, the company had added its fourth 747, with plans to acquire two more aircraft by the year's end.
In March 1995, when the company took delivery of its seventh aircraft, Chowdry registered with the Securities and Exchange Commission (SEC) for Atlas's initial public offering (IPO) of stock.
The IPO was completed in August 1995, raising $74 million and beginning a period during which the company's stock value soared.
Sparking Expansion with 1995 Public Offering
By the end of 1996, sales reached $315 million, up from just $40 million three years earlier, and Chowdry, who still owned 59 percent of the company, was vastly wealthy, reportedly worth $670 million on paper.
By 1996 Polar expanded and was ready for bigger things.
1997: Atlas signs a purchase agreement with Boeing for ten 747-400 freighters.
Sales in 1998 reached $422 million, more than ten times the total collected five years earlier, making Atlas the third largest cargo carrier in the world.
In 1998, he became the youngest person ever inducted into the International Air Cargo Hall of Fame.
In 1998, Polar was acquired 100% by GECAS. With new management came new direction.
In 1999, when four more 747-400 freighters were added to the company's fleet, sales swelled to $637 million, accompanied by record gains in the company's operating profit margin.
By 2000, Atlas's fleet comprised 22 747-200 freighters and ten 747-400 freighters, with new additions set to arrive in the years ahead.
By the end of 2000, the Atlas fleet had grown to a total of 36 aircraft.
In February 2001, Atlas Air Worldwide formed its current holding company structure with Atlas Air as a wholly owned subsidiary.
2001: Chowdry is killed in an airplane crash.
On January 30, 2004, Atlas Air Worldwide entered Chapter 11 bankruptcy.
In 2006, Amnesty International released a report on extraordinary rendition claiming that Atlas Air was one of the airlines used by the US government for rendering detainees.
In June 2007, Polar closed on a strategic transaction with DHL Express that gives DHL a 49% equity interest, including a 25% voting interest, in Polar.
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.
In 2011, Atlas Air took the first North American delivery of the Boeing 747-8 Freighter (Boeing 747-8F).
On April 7, 2016, Atlas Air Worldwide Holdings purchased Southern Air for $110 million in an all-cash deal.
On May 5, 2016, Amazon.com and Atlas Air announced a deal for Amazon.com to lease 20 Boeing 767s to fuel growth of its new Amazon air freight service, branded as Amazon Air.
In 2018, Polar celebrated the 10 year anniversary for the joint venture between DHL Express, Atlas Air and Polar.
In addition, 2020 revenue was reported to be $3.2 billion, a 17% rise year over year.
In January 2021, Atlas Air agreed to purchase an additional four 747-8 freighters.
On 17 November 2021, Atlas Air and Southern Air Inc completed their merger with the transition to a single operating certificate.
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Atlas Air competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Republic Airways Holdings | 1973 | $1.3B | 451 | 106 |
| Kalitta Air | 1967 | $390.0M | 1,100 | 123 |
| Mesaba Airlines | 1944 | $2.8M | 2,000 | - |
| ABX Air | 1980 | $1.5B | 700 | 23 |
| Northern Air Cargo | 1956 | $170.0M | 289 | - |
| Delta Air Lines | 1924 | $61.6B | 86,564 | 261 |
| Mayo Aviation | 1978 | $17.5M | 50 | - |
| Air Transport Services Group | 1980 | $1.7B | 5,305 | - |
| Ata Airlines | - | - | 5,000 | 22 |
| Southern Air | 1946 | $120.0M | 750 | 104 |
Atlas Air history FAQs
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Atlas Air may also be known as or be related to ATLAS AIR WORLDWIDE HOLDINGS INC, Atlas Air, Atlas Air Inc., Atlas Air Worldwide Holdings Inc and Atlas Air Worldwide Holdings, Inc.