Express and logistics services provider DHL and Polar Air Cargo Worldwide Inc., a subsidiary of Atlas Air Worldwide Holdings, announced yesterday that they have formed a partnership designed to improve service for DHL Express customers that are moving freight between the United States and Asia.

This partnership, according to the companies, will enable DHL customers to secure long-term access to greater air capacity on Trans-Pacific air routes, as well as reduce transit times and increase delivery reliability on both sides of the Pacific.

This agreement will run for up to 20 years, according to a press release issued by the companies. And it will provide DHL Express guaranteed access to aircraft capacity in key global markets. As part of the partnership, DHL will enter into a 20-year block space agreement with Polar to obtain guaranteed capacity on routes to major Asian destinations.

DHL will also have access to additional available aircraft capacity from Atlas Air, Inc., another subsidiary of Atlas Air Worldwide Holdings. The companies also said they have signed a letter of intent under which DHL will invest $150 million (119 million euros) to acquire a minority 49 percent equity stake in Polar, including a 25 percent voting interest. This transaction is expected to be completed by November 2008.