Bangalore, July 2 DHL has successfully completed the transaction to form a partnership with Polar Air Cargo Worldwide Inc. Polar Air Cargo is a wholly owned unit of Atlas Air Worldwide Holdings Inc, a leading provider of global air cargo services.

As part of this transaction, DHL Express will invest $150 million for a 49 per cent stake and 25 per cent of voting rights in Polar Air Cargo Worldwide.

Polar Air Cargo will continue to operate as an independent company and there will be no integration with DHL Express or any of its business units. The transaction includes a commercial arrangement that gives DHL Express guaranteed access to Polar Air Cargo’s aircraft capacity in key global markets over a period of 20 years, with a potential revenue stream to Atlas Air Worldwide companies of $3.5 billion.

In addition, DHL Express will have access to additional available aircraft capacity from Atlas Air Inc, another subsidiary of Atlas Air Worldwide, AAWW.