Polar Air Cargo braves everything from the arctic winds of the North Pole to the monsoons of the South Pacific to provide scheduled and chartered air cargo service. The company serves selected cities in the Americas, the Asia/Pacific region, and Europe; most of its business originates in the Asia/Pacific region. Customers include leading freight forwarders such as DHL Express and Expeditors International. Atlas Air Worldwide owns 51% of Polar (75% voting interest); the remainder is owned by DHL Express. Atlas also owns Polar sister company, Atlas Air, a leading lessor of cargo aircraft. Together, the carriers maintain a fleet of Boeing 747-400 freighters.
To raise cash and secure a key customer, Atlas Air Worldwide Holdings in 2007 sold a 49% equity stake and a 25% voting interest in Polar to DHL for $150 million; at the same time, DHL signed a 20-year contract for Polar service.
Polar was founded in 1993; Atlas Air Worldwide Holdings bought the company from GE Capital Aviation Services in 2001.