Polar Air Cargo - History

History

Polar was formed in 1993 as a joint venture between Southern Air Transport and GE Capital Aviation Services (GECAS). It started operations in June 1993 and began with charter flights, later adding scheduled services. During 1994, Polar was certified as a supplemental air carrier by the Federal Aviation Administration and on 4 July 1994 as a US all-cargo carrier by the United States Department of Transportation. After several years of continued growth, the remainder of the company was acquired by GECAS.

In November 2001, Polar was acquired by Atlas Air Worldwide Holdings (AAWW), whose Atlas Air subsidiary is a leading provider of ACMI (Aircraft, Crew, Maintenance and Insurance) freighter leasing. Polar became the scheduled service provider for AAWW, while Atlas continued to supply Boeing 747 freighters on a wet-lease basis to major airlines. In October 2006 it was announced that DHL would be acquiring a 49% stake in Polar, with that deal now finalised. Polar is still majority-owned by Atlas Air Worldwide Holdings (51%), and has 736 employees (as of March 2007).

Read more about this topic:  Polar Air Cargo

Famous quotes containing the word history:

    Those who weep for the happy periods which they encounter in history acknowledge what they want; not the alleviation but the silencing of misery.
    Albert Camus (1913–1960)

    There is one great fact, characteristic of this our nineteenth century, a fact which no party dares deny. On the one hand, there have started into life industrial and scientific forces which no epoch of former human history had ever suspected. On the other hand, there exist symptoms of decay, far surpassing the horrors recorded of the latter times of the Roman empire. In our days everything seems pregnant with its contrary.
    Karl Marx (1818–1883)

    Modern Western thought will pass into history and be incorporated in it, will have its influence and its place, just as our body will pass into the composition of grass, of sheep, of cutlets, and of men. We do not like that kind of immortality, but what is to be done about it?
    Alexander Herzen (1812–1870)