Release #01.56
June 1, 2001

Atlas Pilots and Flight Engineers to Picket Shareholders Meeting

HERNDON, VA -- Pilots and flight engineers of Atlas Air, represented by the Air Line Pilots Association, International, will picket their company's annual shareholders meeting beginning 10 a.m. Monday, June 4 at Manhattanville College in Purchase, New York.

The cockpit crews have been attempting since April 2000 to negotiate their first labor contract with airline management. The National Mediation Board assigned a federal mediator to facilitate the contract negotiations in September 2000.

"We want our shareholders to know that fair treatment of this pilot group is long overdue. Any investor in an enterprise should be aware of unresolved labor issues that, if allowed to escalate into a strike, could stifle the organization's ability to generate revenue," said Captain Gregory Amussen, chairman of the Atlas pilots' unit in ALPA.

"This senior management's dawdling at the bargaining table could lead to a dramatic devaluation of these investors' holdings," he added. "Why would senior management allow something as simple as a labor contract negotiation to spoil a good venture? Atlas has reported record profits in recent quarters, yet continues to provide inferior compensation to its professional cockpit crews. We're not asking for the moon; we just want to be compensated in a manner more consistent with the treatment of our peers in the industry. Considering the enormous responsibility that we bear every time we report to work -- a pilot can't have a 'bad day' -- and the value that we bring to the enterprise, we think our reasonable demands are not too much to ask," he said.

"We're sure our management has to grapple with the increasing volatility and cutthroat competition in the international air-cargo industry. Why they would choose to continue distracting themselves with this contract negotiation is a mystery to us. We suggest that management put our contact negotiation to rest with a fair, equitable settlement, and focus intently on carving out and protecting a competitive position for Atlas Air in the changing worldwide marketplace," Amussen said.

"With the security and stability of an enforceable labor contract achieved, the cockpit crewmembers of Atlas Air will be better able to join with management in a partnership for success. The time to resolve our differences is now," Amussen added.

Atlas is the world’s third-largest cargo carrier and the world’s largest operator of Boeing 747 freighters. Last year the airline received the distinction of being ranked the world’s most financially fit carrier. Atlas' pilots and flight engineers are represented by the ALPA, the world’s oldest and largest pilots union. ALPA represents more than 59,000 pilots at 49 airlines in the U.S. and Canada.

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Contact: John Caputo, Communications Chairman, 410-810-9023

INFORMATIONAL PICKET:

>> 10 a.m. through duration of shareholders meeting

>> Monday, June 4
>> Manhattanville College
2900 Purchase Street
Purchase, NY 10577