Atlas Responds to Court Ruling.Business Editors PURCHASE, N.Y.--(BUSINESS WIRE)--Nov. 22, 2000 The United States Court of Appeals The United States courts of appeals (or circuit courts) are the intermediate appellate courts of the United States federal court system. A court of appeals decides appeals from the district courts within its federal judicial circuit, and in some instances from other for the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). Circuit has issued a decision reversing an earlier decision of the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. of the District of Columbia in a lawsuit pending between Air Line Pilots Association and Atlas Air. As part of the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , ALPA ALPA abbr. Air Line Pilots Association challenged Atlas Air's exclusion of its pilots from the corporate profit-sharing plan Profit-Sharing Plan A plan that gives employees a share in the profits of the company. Each employee receives into an account, a percentage of those profits based on their earnings. Also known as "deferred profit-sharing plan" or "DPSP". following certification. The District Court concluded that Atlas' action was completely lawful. On ALPA's appeal, however, the Court of Appeals reversed and remanded the suit to the District Court. Atlas continued to believe that its actions were lawful and that the three-judge panel of the Court of Appeals decided the case without fully considering or commenting on substantial issues of law raised by Atlas. Atlas intends to petition the Court for rehearing rehearing n. conducting a hearing again based on the motion of one of the parties to a lawsuit, petition or criminal prosecution, usually by the court or agency which originally heard the matter. and to pursue all other available legal remedies. Atlas Air is a United States certificated air carrier that operates a fleet of 747 freighters under ACMI contracts. These contracts include the provision by Atlas Air of air cargo capacity for some of the world's leading international carriers. Atlas Air operates scheduled flights on behalf of its customer airlines to 101 cities in 46 countries. To the extent that any of the statements contained herein relating to the Company's executions, assumptions and other Company matters are forward-looking, they are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are based on current expectations that involve a number of uncertainties and risks that could cause actual results to differ materially from those projected in the forward-looking statements, including, but not limited to risks associated with worldwide business and economic conditions; product demand and the rate of growth on the air cargo industry; the impact of competitors and competitive aircraft and aircraft financing availability; the ability to attract and retain new and existing customers; normalized aircraft operating costs and reliability; management of growth; the continued productivity of its workforce; dependence on key personnel; and regulatory matters. For additional information regarding these and other risk factors, reference is made to the Company's Annual Report on Form 10-K for the year ended December 31, 1999, and the Quarterly Report on Form 10-Q for the period ended September 30, 2000. |
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