Atlas Air will continue to fly 20 large freighters for DHL Express after the express delivery company extended an existing contract, the companies announced Tuesday.
The arrangement ensures DHL Express has continued access to outsourced airlift to support its fast-growing express business that is increasingly driven by e-commerce. The length of wet leases was not disclosed.
The aircraft are operated globally by Atlas Air Worldwide Holdings (NASDAQ: AAWW) subsidiaries Atlas Air, Polar Air Cargo and Southern Air. Polar Air Cargo is a 13-year-old joint venture between Atlas and DHL in which DHL holds a 49% equity interest, including a 25% voting share. The strategic arrangement provides DHL Express guaranteed capacity on key trade lanes while Atlas gets a predictable, long-term revenue stream.