Atlas Air Worldwide Holdings, Inc. Comments on Preliminary Unaudited Business and Financial Measures for 2004; Expects Improved Revenues, Operating Income Versus Plan and 2003 Results.

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Atlas Air Worldwide Holdings, Inc. Comments on Preliminary Unaudited Business and Financial Measures for 2004; Expects Improved Revenues, Operating Income Versus Plan and 2003 Results.

PURCHASE, N.Y. -- Company Also Highlights Strategic Initiatives

Atlas Air Worldwide Holdings, Inc. (AAWW) (OTC: AAWWV.PK), a leading provider of global air cargo services, today provided preliminary unaudited estimates for the year ended December 31, 2004, for certain business and financial measures tracked by management in evaluating the performance of its business.

AAWW completed a financial restructuring and emerged from Chapter 11 bankruptcy proceedings in July 2004. The Company expects to file its annual report on Form 10-K for the year 2004 as soon as practicable, but not prior to May 2005. The preliminary business and financial measures disclosed today are intended to assist AAWW stockholders to better understand the Company's 2004 performance prior to the completion of its audited financial statements for the full year.

AAWW expects to report operating income for the full year 2004 in the range of $56 million to $74 million, an improvement of about $10 million to $28 million compared with operating income of $46 million in the 2004 Business Plan set forth in AAWW's Second Amended Disclosure Statement filed with the Securities and Exchange Commission on Form 8-K on July 26, 2004 (the "Plan"). It also represents an improvement of approximately $62 m...

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