October 23, 2009 (FinancialWire) — Atlas Air Worldwide Holdings, Inc. (NASDAQ: AAWW), a provider of global outsourced aircraft services, said its Atlas Air unit has been selected to operate an outsourced premium passenger private charter service for the U.S.-Africa Energy Association (USAEA).

The agreement to operate the charter was reached with SonAir - Serviço Aéreo, S.A. (SonAir), acting as agent for the USAEA.

Atlas will operate the charter service with two newly customized Boeing 747-400 aircraft provided by SonAir’s parent company, which are being reconfigured into largely business and executive class configuration. The charter service, which has become known as the “Houston Express,” includes three dedicated weekly non-stop flights between Houston and Luanda, Angola. While it is not open to the public, it provides USAEA members with a premium non-stop transportation link to support complex long-term projects in the West African energy sector.

The parties have structured the long-term commercial arrangement in a manner consistent with the outsourcing business model under which Atlas Air typically operates. Under that model, Atlas Air receives contractually determined revenues for the operation of the aircraft, with the customer assuming responsibility for passenger revenue and certain direct costs, including fuel.

SonAir is a wholly owned subsidiary of Sonangol Group, the multinational energy company of Angola and a member of the USAEA. USAEA’s members include many of the leading U.S. energy companies involved in the exploration and development of petroleum resources in West Africa.

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