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AAWW - Atlas Air Worldwide Holdings Inc News Story

$73.3 -0.7  -1.0%

Last Trade - 10/05/21

Sector
Industrials
Size
Mid Cap
Market Cap £1.51bn
Enterprise Value £2.63bn
Revenue £2.43bn
Position in Universe 2158th / 6853

Cainiao Partners with Atlas Air To Launch Asia to South America Charter Program

Tue 13th October, 2020 3:30am
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* Customers in South America can expect to receive parcels from China in as
soon as three days
* Cainiao transported over eight million parcels to South America in Q3 2020,
double that of Q2
* Dedicated charter flights will link China with Brazil and Chile three times
per week
PURCHASE, N.Y., Oct. 12, 2020 (GLOBE NEWSWIRE) -- Cainiao Smart Logistics
Network, (“Cainiao”), the logistics arm of Alibaba Group Holding Limited,
today announced a partnership to launch a charter program with Atlas Air
Worldwide Holdings, Inc. (Nasdaq: AAWW) to enhance Alibaba’s extensive
logistics network as cross-border trade between China and Latin America
continues to expand.

Cainiao’s parcel volume to South America reached over eight million packages
in the third quarter of 2020, double the number transported during the second
quarter of this year. Beginning in November, Atlas Air will operate three
weekly charter flights dedicated to Cainiao, linking China with Brazil and
Chile, reducing the overall shipping time from a week to three days on
average.

“At Cainiao, we continue to invest in our network to support Alibaba
merchants operating over 100,000 online shops,” said William Xiong,
Cainiao's Chief Strategist and General Manager of Export Logistics. “Our
partnership with Atlas Air will help us establish an efficient, reliable
network to South America and other worldwide destinations by significantly
reducing airfreight delivery time for the merchants we support.”

“We are excited to support Cainiao and Alibaba’s fast-growing e-commerce
business and its global expansion in South America, and we look forward to
developing our partnership further,” said President and Chief Executive
Officer John Dietrich, Atlas Air Worldwide. “The global scale of our
operating networks will enable Cainiao to continue to enhance its logistics
capabilities and meet its objectives to offer customers faster deliveries
globally.”

As previously announced by Cainiao, the company is committed to facilitating
international trade by improving overall supply chain efficiency and launching
direct routes to major regions across the globe. Cainiao is expected to
operate about 1,300 chartered flights by the end of 2020.

About Cainiao:

Founded in 2013, Cainiao Smart Logistics Network (“Cainiao”) is a
technology company and the logistics affiliate of Alibaba Group. It adopts a
collaborative approach to logistics with an innovative and open data platform
that improves efficiency and customer experience for all players along the
supply chain. It carries forward Alibaba’s mission of making it easy to do
business anywhere by aiming to deliver anywhere in China within 24 hours, and
across the globe within 72 hours.

Media Contact
Jin WU
jinwujun@alibaba-inc.com
+86 150 1060 0187

About Atlas Air Worldwide:

Atlas Air Worldwide is a leading global provider of outsourced aircraft and
aviation operating services. It is the parent company of Atlas Air, Inc.,
Southern Air Holdings, Inc. and Titan Aviation Holdings, Inc., and is the
majority shareholder of Polar Air Cargo Worldwide, Inc. Our companies operate
the world’s largest fleet of 747 freighter aircraft and provide customers
the broadest array of Boeing 747, 777, 767 and 737 aircraft for domestic,
regional and international cargo and passenger operations.

Atlas Air Worldwide’s press releases, SEC filings and other information may
be accessed through the company’s home page, www.atlasairworldwide.com.

Contacts
Investors – Eric.Camadeco@atlasair.com 
Media – Debbie.Coffey@atlasair.com

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/6bbd0b87-41f9-4e3e-ac6b-928d704de8f1

https://www.globenewswire.com/NewsRoom/AttachmentNg/aa9e0f5e-a945-4630-9725-3b8fbe8daddd

(https://www.globenewswire.com/NewsRoom/AttachmentNg/207044c8-527d-4144-bb84-e0da24be86e7)
Cainiao Partners with Atlas Air To Launch Asia to South America Charter
Program 
(https://www.globenewswire.com/NewsRoom/AttachmentNg/6bbd0b87-41f9-4e3e-ac6b-928d704de8f1/en)
Cainiao Smart Logistics Network, (“Cainiao”), the logistics arm of Alibaba
Group Holding Limited, today announced a partnership to launch a charter
program with Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) to enhance
Alibaba’s extensive logistics network as cross-border trade between China
and Latin America continues to expand.Cainiao Partners with Atlas Air To
Launch Asia to South America Charter Program 
(https://www.globenewswire.com/NewsRoom/AttachmentNg/aa9e0f5e-a945-4630-9725-3b8fbe8daddd/en)
Cainiao Smart Logistics Network, (“Cainiao”), the logistics arm of Alibaba
Group Holding Limited, today announced a partnership to launch a charter
program with Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) to enhance
Alibaba’s extensive logistics network as cross-border trade between China
and Latin America continues to expand.


GlobeNewswire, Inc. 2020
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