Exhibit 99

2000 Westchester Avenue, Purchase, New York 10577 •  (914) 701-8000

FOR IMMEDIATE RELEASE                

Contacts: Dan Loh (Investors) – (914) 701-8200

  Beth Roach (Media) – (914) 701-6576

Atlas Air Worldwide

Reports Strong Second-Quarter Growth,

Increases Full-Year 2018 Outlook

PURCHASE, N.Y., August 2, 2018 – Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today announced strong second-quarter 2018 business growth and raised its outlook for full-year 2018, driven by market strength and increased customer demand.

“Our volumes and revenue grew to new records in the second quarter, and while reported results were impacted by warrant accounting, our adjusted income and adjusted EBITDA were sharply higher,” said President and Chief Executive Officer William J. Flynn.

“We expect to continue to build on our strong performance in the second half of 2018. Airfreight demand is solid and the global economy is growing. As a result of our strategic initiatives to grow and diversify our fleet, expand our customer base and enhance our business mix, we are meeting the growing needs of our customers, driving our results and extending our leadership in global aviation outsourcing.

“For the full year, we now expect our revenue to exceed $2.6 billion. We project adjusted EBITDA to increase to more than $520 million. And we anticipate our full-year adjusted net income will grow by 45% to 50% compared with 2017, up from our prior outlook of 35% to 40% growth.”

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Second-Quarter Results

Volumes in the second quarter of 2018 increased 19% to a record 72,660 block hours, with revenue growing 29% to a record $666.1 million.

A reported loss from continuing operations, net of taxes, of $21.1 million, or $0.83 per diluted share, during the period compared with reported income of $39.0 million, or $0.92 per diluted share, in the second quarter of 2017. Reported results in the second quarter of 2018 included an unrealized loss on outstanding warrants of $50.0 million compared with an unrealized gain on outstanding warrants of $13.8 million in the year-ago period, as well as a special charge of $9.4 million related to engines held for sale.

On an adjusted basis, income from continuing operations, net of taxes, in the second quarter of 2018 increased $20.6 million to $49.7 million, or $1.75 per diluted share, from $29.1 million, or $1.09 per diluted share, in the year-ago quarter. Adjusted EBITDA increased $23.1 million over the year-ago period to $125.5 million.

Reported and adjusted results for the second quarter included an after-tax benefit of $6.8 million related to a refund of aircraft rent paid in previous years. Reported and adjusted results for the period also included an after-tax benefit of $3.1 million mainly related to the timing of non-heavy maintenance expense initially expected to occur in the second quarter that is now anticipated to take place in the third quarter.

ACMI segment contribution in the second quarter of 2018 was relatively unchanged from the prior-year period, as a significant increase in block-hour volumes and a higher average rate per block hour were offset by higher heavy maintenance expense and amortization of deferred maintenance costs. Block hours grew 19% during the period, reflecting increased 767 flying for Amazon, the start-up of 747-400 flying for several new customers, and the redeployment of 747-8F aircraft from the Charter segment to ACMI. The increase in the average rate during the quarter primarily reflected the impact of increased 747-8F and 747-400F flying for new customers.

Higher Charter segment contribution during the period was primarily driven by increases in military cargo and passenger demand, an increase in commercial cargo volumes, and higher aircraft utilization, partially offset by the redeployment of 747-8 aircraft to the ACMI segment. Higher average rates during the quarter primarily reflected higher fuel prices and the impact of Charter capacity purchased from ACMI customers that had no associated Charter block hours.

In Dry Leasing, higher segment contribution primarily reflected the placement of additional 767-300 converted freighter aircraft throughout the second half of 2017 and first half of 2018, as well as the placement of a 777-200 freighter in early 2018.

Higher unallocated income and expenses, net during the quarter primarily reflected an increase in unallocated interest expense, fleet growth initiatives, and amortization of a customer incentive asset.

Reported earnings in the second quarter of 2018 also included an effective income tax rate of 159.6%, due mainly to nondeductible changes in the value of outstanding warrants. On an adjusted basis, our results reflected an effective income tax rate of 16.2%.

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Cash and Short-Term Investments

At June 30, 2018, our cash and cash equivalents, short-term investments and restricted cash totaled $245.4 million, compared with $305.5 million at December 31, 2017.

The change in position resulted from cash used for investing activities, partially offset by cash provided by operating and financing activities.

Net cash used for investing activities during the first half of 2018 primarily related to capital expenditures and payments for flight equipment and modifications, including the acquisition of 777-200 aircraft, 767-300 aircraft to be converted to freighter configuration, spare engines and GEnx engine performance upgrade kits.

Net cash provided by financing activities during the period primarily reflected proceeds from our financings of 777-200 and 767-300 aircraft, partially offset by payments on debt obligations.

Half-Year Results

Reported results for the six months ended June 30, 2018 reflected a loss from continuing operations, net of taxes, of $11.5 million, or $0.45 per diluted share, primarily due to an unrealized loss on financial instruments of $57.8 million related to outstanding warrants and a special charge of $9.4 million related to engines held for sale. Results for the first half compared with income from continuing operations of $39.1 million, or $1.13 per diluted share, which included an unrealized gain on financial instruments of $8.6 million, for the six months ended June 30, 2017.

On an adjusted basis, first-half 2018 income from continuing operations, net of taxes, totaled $73.5 million, or $2.62 per diluted share, compared with $37.4 million, or $1.39 per diluted share, in the first half of 2017.

Reported and adjusted results for the first half of 2018 also included $9.8 million of after-tax benefits related to the refund of aircraft rent and $3.1 million related to the timing of non-heavy maintenance expense discussed earlier.

Raising 2018 Outlook

We are raising our outlook for 2018 to reflect our strong first-half results and our continued expectation of significant volume, revenue, and earnings growth.

Globally, economic activity is expanding. The airfreight market is solid, and airfreight tonnage continues to grow from record levels.

As a result, we see volumes rising approximately 19% to around 300,000 block hours in 2018, with about 75% of the hours in ACMI and the balance in Charter.

For the full year, we expect our revenue to exceed $2.6 billion, our adjusted EBITDA to increase to more than $520 million, and our adjusted net income to grow by 45% to 50% compared with 2017.

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Aircraft maintenance expense in 2018 is expected to total approximately $330 million, mainly reflecting an increase in daily line maintenance due to the anticipated growth in block hours. Depreciation and amortization is expected to total approximately $220 million. In addition, core capital expenditures, which exclude aircraft and engine purchases, are expected to total approximately $105 to $115 million, mainly for parts and components for our fleet.

We also expect our full-year 2018 adjusted effective income tax rate to be approximately 15%.

For the third quarter of 2018, we expect adjusted EBITDA to exceed $120 million, and adjusted net income to increase by an upper -30% to lower -40% level compared with third-quarter 2017 adjusted net income of $29.7 million.

During the third quarter, we expect our Titan dry-leasing subsidiary to renew its participation in an aircraft-leasing incentive program in Singapore. As a result, we expect to record a deferred income tax benefit of approximately $8.2 million in the third quarter and to benefit from a reduced income tax rate going forward.

Also in the third quarter, we anticipate a ratification bonus related to an interim agreement to enhance the terms and conditions of employment of our Southern Air, Inc. pilots. The agreement is subject to ratification by the Southern Air pilots in a process that we expect to be completed by mid-August.    

We provide guidance on an adjusted basis because we are unable to predict, with reasonable certainty, the effects of outstanding warrants and other items that could be material to our reported results.

Conference Call

Management will host a conference call to discuss Atlas Air Worldwide’s second-quarter 2018 financial and operating results at 11:00 a.m. Eastern Time on Thursday, August 2, 2018.

Interested parties are invited to listen to the call live over the Internet at www.atlasair.com (click on “Investor Information,” click on “Presentations” and on the link to the second-quarter call) or at the following Web address:

https://edge.media-server.com/m6/p/emxsgrj5

For those unable to listen to the live call, a replay will be archived on the above websites following the call. A replay will also be available through August 9 by dialing (855) 859-2056 (U.S. Toll Free) or (404) 537-3406 (from outside the U.S.) and using Access Code 2709038#.

About Non-GAAP Financial Measures

To supplement our financial statements presented in accordance with U.S. GAAP, we present certain non-GAAP financial measures to assist in the evaluation of our business performance. These non-GAAP measures include Adjusted EBITDA; Adjusted income from continuing operations, net of taxes; Adjusted Diluted EPS from continuing operations, net of taxes; Adjusted effective tax rate; and Free Cash Flow, which exclude certain noncash income and expenses, and items impacting year-over-year comparisons of our results. These non-GAAP measures may not be comparable to similarly titled measures used by other companies and should not be considered in isolation or as a substitute for Income (loss) from continuing

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operations, net of taxes; Diluted EPS from continuing operations, net of taxes; Effective tax rate; and Net Cash Provided by Operating Activities, which are the most directly comparable measures of performance prepared in accordance with U.S. GAAP.

Our management uses these non-GAAP financial measures in assessing the performance of the company’s ongoing operations and in planning and forecasting future periods. We believe that these adjusted measures, when considered together with the corresponding U.S. GAAP financial measures and the reconciliations to those measures, provide meaningful supplemental information to assist investors and analysts in understanding our financial results and assessing our prospects for future performance. For example:

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 a broad array of Boeing 747, 777, 767, 757 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.atlasair.com.

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect Atlas Air Worldwide’s current views with respect to certain current and future events and financial performance. Those statements are based on management’s beliefs, plans, expectations and assumptions, and on information currently available to management. Generally, the words “will,” “may,” “should,” “expect,” “anticipate,” “intend,” “plan,” “continue,” “believe,” “seek,” “project,” “estimate,” and similar expressions used in this release that do not relate to historical facts are intended to identify forward-looking statements.

Such forward-looking statements speak only as of the date of this release. They are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the operations and business environments of Atlas Air Worldwide and its subsidiaries (collectively, the “companies”) that may cause the actual results of the companies to be materially different from any future results, express or implied, in such forward-looking statements.

Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: our ability to effectively operate the network service contemplated by our agreements with Amazon, including the cost and timing of securing any aircraft necessary to fulfill our agreements; the risk that the anticipated benefits of our agreements with Amazon will not be realized when expected, or at all; the possibility that

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Amazon may terminate its agreements with the companies; the ability of the companies to operate pursuant to the terms of their financing facilities; the ability of the companies to obtain and maintain normal terms with vendors and service providers; the companies’ ability to maintain contracts that are critical to their operations; the ability of the companies to fund and execute their business plan; the ability of the companies to attract, motivate and/or retain key executives, pilots and associates; the ability of the companies to attract and retain customers; the continued availability of our wide-body aircraft; demand for cargo services in the markets in which the companies operate; economic conditions; the effects of any hostilities or act of war (in the Middle East or elsewhere) or any terrorist attack; failure or disruption of our information technology systems; labor costs and relations, work stoppages and service slowdowns; the outcome of pending negotiations with our pilots’ union; financing costs; the cost and availability of war risk insurance; our ability to maintain adequate internal controls over financial reporting; aviation fuel costs; security-related costs; competitive pressures on pricing (especially from lower-cost competitors); volatility in the international currency markets; weather conditions; government legislation and regulation; changes to our provisional estimates of the impact of the U.S. Tax Cuts and Jobs Act of 2017; consumer perceptions of the companies’ products and services; anticipated and future litigation; and other risks and uncertainties set forth from time to time in Atlas Air Worldwide’s reports to the United States Securities and Exchange Commission.

For additional information, we refer you to the risk factors set forth under the heading “Risk Factors” in the most recent Annual Report on Form 10-K and subsequent reports on Form 10-Q filed by Atlas Air Worldwide with the Securities and Exchange Commission. Other factors and assumptions not identified above may also affect the forward-looking statements, and these other factors and assumptions may also cause actual results to differ materially from those discussed.

Except as stated in this release, Atlas Air Worldwide is not providing guidance or estimates regarding its anticipated business and financial performance for 2018 or thereafter.

Atlas Air Worldwide assumes no obligation to update such statements contained in this release to reflect actual results, changes in assumptions or changes in other factors affecting such estimates other than as required by law and expressly disclaims any obligation to revise or update publically any forward-looking statement to reflect future events or circumstances.

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Atlas Air Worldwide Holdings, Inc.

Consolidated Statements of Operations

(in thousands, except per share data)

(Unaudited)

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Atlas Air Worldwide Holdings, Inc.

Consolidated Balance Sheets

(in thousands, except share data)

(Unaudited)

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Atlas Air Worldwide Holdings, Inc.

Consolidated Statements of Cash Flows

(in thousands)

(Unaudited)

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Atlas Air Worldwide Holdings, Inc.

Direct Contribution

(in thousands)

(Unaudited)

Atlas Air Worldwide uses an economic performance metric, Direct Contribution, to show the profitability of each of its segments after allocation of direct ownership costs. Atlas Air Worldwide currently has the following reportable segments: ACMI, Charter, and Dry Leasing. Each segment has different commercial and economic characteristics, which are separately reviewed by our chief operating decision maker.

Direct Contribution consists of income (loss) from continuing operations before taxes, excluding special charges, transaction-related expenses, nonrecurring items, losses (gains) on the disposal of aircraft, losses on early extinguishment of debt, unrealized losses (gains) on financial instruments, gains on investments, and unallocated income and expenses, net.

Direct operating and ownership costs include crew costs, maintenance, fuel, ground operations, sales costs, aircraft rent, interest expense on the portion of debt used for financing aircraft, interest income on debt securities, and aircraft depreciation.

Unallocated income and expenses, net include corporate overhead, nonaircraft depreciation, noncash expenses and income, interest expense on the portion of debt used for general corporate purposes, interest income on nondebt securities, capitalized interest, foreign exchange gains and losses, other revenue and other nonoperating costs.    

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Atlas Air Worldwide Holdings, Inc.

Reconciliation to Non-GAAP Measures

(in thousands, except per share data)

(Unaudited)

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Atlas Air Worldwide Holdings, Inc.

Reconciliation to Non-GAAP Measures

(in thousands, except per share data)

(Unaudited)

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Atlas Air Worldwide Holdings, Inc.

Reconciliation to Non-GAAP Measures

(in thousands, except per share data)

(Unaudited)

¹ Free Cash Flow = Cash Flows from Operations minus Base Capital Expenditures and Capitalized Interest.

 Base Capital Expenditures excludes purchases of aircraft.

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Atlas Air Worldwide Holdings, Inc.

Reconciliation to Non-GAAP Measures

(in thousands)

(Unaudited)

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Atlas Air Worldwide Holdings, Inc.

Operating Statistics and Traffic Results

(Unaudited)

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Atlas Air Worldwide Holdings, Inc.

Operating Statistics and Traffic Results

(Unaudited)