Atlas Air signs new contract with FedEx

Atlas Air Worldwide Holdings, Inc. (NASDAQ: AAWW) has entered into a five-year agreement with FedEx Express to provide it with five 747-400 freighter aircraft for peak flying seasons beginning in 2017 and lasting through 2021, the company said.

Peak season flying generally occurs in the month of December and potentially earlier. An agreement to provide five aircraft for the 2016 peak season flying is already in place.

Atlas Air Worldwide is a 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.