8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 8-K

     CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

September 16, 2005(Date of earliest event reported)

Atlas Air Worldwide Holdings, Inc.(Exact name of registrant as specified in its charter)

Delaware	0-25732	13-4146982
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
2000 Westchester Avenue, Purchase, New York		10577
(Address of principal executive offices)		(Zip Code)

(914) 701-8000
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[    ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[    ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[    ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[    ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

Item 7.01. Regulation FD Disclosure
Signatures
Exhibit Index
Press Release

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Item 7.01 Regulation FD Disclosure

     On September 16, 2005, Atlas Air Worldwide Holdings, Inc. issued the press release attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

Exhibit No.	Description
99.1	Press release of Atlas Air Worldwide Holdings, Inc., dated September 16, 2005.

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SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		Atlas Air Worldwide Holdings, Inc.
Dated:	September 16, 2005	By:	/s/ Michael W. Borkowski
			Name: Michael W. Borkowski
			Title: Secretary and Senior Attorney

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EXHIBIT INDEX

99.1        Press release of Atlas Air Worldwide Holdings, Inc., dated September 16, 2005.

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EX-99.1

FOR IMMEDIATE RELEASE:
Contacts:	Alan Caminiti 914-701-8400 (Media)
	Dan Loh 914-701-8210 (Investors)

Crewmember Strike at Polar Air Cargo, Inc.
Not Expected to Affect Most AAWW
Operations

Purchase, N.Y., September 16, 2005 – Atlas Air Worldwide Holdings, Inc. (AAWW) (OTC: AAWW.PK) announced today that its negotiations with the Air Line Pilots Association (ALPA) for a new Collective Bargaining Agreement covering the Crewmembers employed by its subsidiary Polar Air Cargo, Inc. (Polar) have been unsuccessful, and that ALPA has elected to call a strike at Polar.

“While we regret the Polar Crewmembers’ decision to strike,” said Jeffrey H. Erickson, President and Chief Executive Officer of AAWW, “we have prepared for this contingency. Consistent with our strategic initiatives to place our aircraft where they are most profitable, we have returned three aircraft on dry lease to Polar back to Atlas Air, Inc. We have also placed two Polar aircraft for sale or lease, and are in the process of placing the remaining seven aircraft in other uses, including dry leases. As a result, only seven of the Company’s 42 aircraft are affected by the strike.”

The final offer from Polar to ALPA called for no changes to the current work rules, pay rules and benefits, and provided for an immediate 10.5% across-the-board pay raise. ALPA was demanding significantly higher wage increases, which precluded reaching an agreement. “Our goal was to put our Polar Crewmembers at parity with our Atlas Crewmembers pending merger of the two carriers,” Mr. Erickson continued. “ALPA’s demands were simply not justified in any respect, particularly given the current competitive and fuel environment in which Polar competes.”

AAWW and the Air Line Pilots Association (ALPA), the collective bargaining representative for Polar’s Crewmembers, had been in negotiations for an amended Collective Bargaining Agreement since 2003. The parties were released from negotiations last month by the National Mediation Board (NMB) into a mandated 30-day cooling off period. That period ended last night at midnight, after which the strike action was taken by the Polar Crewmembers.

About Atlas Air Worldwide Holdings, Inc.:

AAWW is the parent company of Atlas Air, Inc. (Atlas) and Polar Air Cargo, Inc. (Polar), which together operate the world’s largest fleet of Boeing 747 freighter aircraft. AAWW, through its principal subsidiaries Atlas and Polar, offers scheduled air cargo service, cargo charters, military charters, and ACMI aircraft leasing in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis.

AAWW’s press releases, SEC filings and other information may be accessed through the Company’s home page, www.atlasair.com.