Atlas Air and DHL Express have decided to dissolve their joint venture, Polar Air Cargo, as reported by Cargo Facts. Polar Air Cargo, established in 1993, is a US-based cargo airline focusing on transpacific freight services between the US and Asia-Pacific. The joint venture began in 2007 with Atlas Air holding the majority stake.
The decision to part ways was mutual, attributed to shifting strategic priorities. Under the joint venture, Polar Air Cargo provided scheduled freight services while Atlas Air operated the aircraft. Most cargo space was allocated to DHL Express, which managed the flight network.
With the dissolution plans underway, Atlas Air informed FreightWaves that some operations and staff from Polar Air Cargo will transition to Atlas Air, while others will move to DHL. However, Atlas will retain Polar’s air operating certificate. An Atlas Air spokesperson commented: “As we considered the evolution of our respective companies, Atlas and DHL have mutually decided that the joint venture no longer aligns with the strategic direction of either shareholder company.”
Polar Air Cargo currently operates six freighters with an average age of 12.8 years, including four Boeing 747-8Fs and two Boeing 777-200 widebody freighters. The spokesperson added: “We are very pleased to extend our valuable partnership with DHL Express…Atlas is redeploying the four 747-8F aircraft currently in service for DHL through Polar with other Atlas customers under long-term agreements.”
DHL Express retains a 49% stake in Polar Air Cargo, maintaining access to capacity on its freighter services. Meanwhile, Atlas Air holds a controlling 51% stake.
Atlas Air is headquartered at John F. Kennedy International Airport in New York and operates a fleet of 90 aircraft across nearly 30 countries. Its fleet includes various models such as Boeing 747s and Boeing 767s.
In contrast, DHL Group operates a more diverse fleet of 217 aircraft globally, comprising different models from manufacturers like Boeing and Airbus.
