SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report
(Date of earliest event reported)
September 30, 1997
(September 17, 1997)
ATLAS AIR, INC.
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
0-25732 84-1207329
(Commission File Number) (IRS Employer Identification No.)
538 COMMONS DRIVE, GOLDEN, COLORADO 80401
(Address of principal executive offices) (Zip code)
Registrant's telephone number
including area code (303) 526-5050
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ITEM 5. OTHER EVENTS.
On September 17, 1997, the Registrant issued the press release attached
hereto as Exhibit 99.1, which press release is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
99.1 Press release dated September 17, 1997
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ATLAS AIR, INC.
By: /s/ Nesa E. Hassanein
------------------------------
Name: Nesa E. Hassanein
Title: Senior Vice President
and General Counsel
Date: September 30, 1997
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EXHIBIT INDEX
NUMBER DESCRIPTION
99.1 Press release dated September 17, 1997.
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Exhibit 99.1
[LOGO] ATLAS AIR
ATLAS AIR CHAIRMAN REASSUMES PRESIDENT ROLE
GOLDEN, CO - SEPTEMBER 17, 1997 -- ATLAS AIR, INC. (NASDAQ: ATLS) announced
today that Michael Chowdry, chairman, chief executive officer and founder of the
company, will reassume his previously held position of president, a position
most recently held by Mickey P. Foret.
"Atlas' recent performance has not been up to the standards we have set for
ourselves to fully achieve our potential for our customers and employees, and to
maximize our shareholders' value," said Mr. Chowdry. "This company was founded
on an entrepreneurial idea, in the spirit of innovation and flexibility, and it
is important that we maintain that culture. I have therefore decided to roll up
my sleeves and reassume my original role in the active day-to-day management of
Atlas Air to ensure that we focus on those business attributes that we know work
- -- keeping our customers satisfied, expanding our base of business to new
customers around the world and remaining the low-cost air cargo outsource
provider and industry leader. Current business trends are quite favorable for
Atlas, and we must be agile enough to quickly capitalize on emerging
opportunities. In particular, we look forward to 1998 and to the delivery of the
first four of our 747-400 freighters and the new marketing opportunities they
represent."
Mickey Foret commented that "Atlas has an experienced management team and
skilled workforce which will continue to work together to take the company into
the next phase of its growth. In addition to several of its founding executives,
Atlas has significantly strengthened its senior management team in key areas
such as operations, marketing and human resources. I am extremely confident that
these individuals, working with Michael, will enable Atlas to achieve its
goals."
A special committee of Atlas' Board of Directors will conduct a search to help
identify a new president. "It is our intention to find the right individual to
work closely with me to help Atlas grow and expand our important position in the
air cargo industry, and to deliver positive results to our shareholders,"
Chowdry said.
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Atlas Air is a United States certificated air carrier that operates a fleet of
747 freighters under loan-term ACMI contracts. These contracts include the
provision by Atlas of Aircraft, Crew, Maintenance and Insurance for some of the
world's leading air carriers including British Airways, China Airlines,
Emirates, FastAir, KLM, LAS, Lufthansa, SAS, Thai International Airways and
Varig, serving 62 cities in 38 countries.
CONTACT: Vicki L. Foster (303) 526-5050
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