Atlas Air Worldwide and DHL have announced they will close their joint venture Polar Air Cargo after 17 years of operations.
The companies have decided that Polar Air Cargo is no longer a strategic business interest, according to an Atlas Air Worldwide spokesperson, though the precise date of closure has not been confirmed.
The spokesperson commented that "Atlas and DHL have mutually decided that the joint venture no longer aligns with the strategic direction of either shareholder company".
Polar’s fleet includes four Boeing 747-8Fs, plus two Boeing 777Fs, down from four 777Fs last year.
Following the closure, first reported by Cargo Facts, Atlas will continue to utilise some of Polar's freighters for DHL Express flights, while the rest of the freighters will be redeployed by Atlas.
The spokesperson added: "We expect certain operations and positions to shift to Atlas and others to DHL, and will ensure continued outstanding service to Polar’s strong roster of customers. Atlas will continue to hold the Polar certificate.
"We are very pleased to extend our valuable partnership with DHL Express, and continue as a carrier within their global aviation network. Atlas will continue to provide DHL outsourced CMI service on the two 777F aircraft currently operated by Polar, on an extended term.
"Atlas is redeploying the four 747-8F aircraft currently in service for DHL through Polar with other Atlas customers under long-term agreements."
Atlas also noted that the decision to close Polar is in alignment with its 'One Atlas Strategy'.
The strategy includes working for direct shippers, major e-commerce platforms, leading express carriers, airlines, freight forwarders, and ocean shipping companies.
"Our 'One Atlas' strategy is the culmination of a focused strategic transformation and diversification model," the freighter operator said. "With an unmatched global footprint, scalable network and the best team in the industry, Atlas is strengthening our position as the world leader in outsourced aviation logistics."
First established in 1993 and acquired by Atlas in 2001, White Plains, New York-headquartered Polar has been 51% owned by Atlas and 49% owned by DHL Express since 2007.
As of May last year, as well as flights to and from its US Cincinnati/Northern Kentucky (CVG) and Los Angeles (LAX) hubs, airports served by Polar in Asia included Shanghai Pudong (PVG), Sunan Shuofang (WUX), Shenzhen Bao’an (SZX) and Guangzhou Baiyun (CAN) in China; Chubu Centrair (NGO) and Narita (NRT) in Japan; Incheon (ICN) in South Korea; Singapore Changi (SIN); and Taiwan Taoyuan (TPE).
Hong Kong (HKG) was also part of Polar’s intra-Asia network, while APAC interline connections extended the network further in Asia. In Europe, Polar also called at Leipzig/Halle (LEJ) in Germany.
The airline has typically served a wide range of verticals, including automotive, machinery parts, perishables and dangerous goods.
Polar went through a challenging period when former staff were charged with fraud, however the airline now has completely new management.
