On January 17, 2014, Atlas Air Worldwide Holdings Inc. (AAWW) received notice from its 49% owned affiliate, Global Supply Systems Limited (GSS), that British Airways Plc (BA) has provided an early termination notice under the wet lease agreement between BA and GSS relating to three of the company's B747-8F aircraft, which are currently leased to GSS. The effective date of the wet lease termination is April 30, 2014. The three 747-8F aircraft leases between Atlas Air Inc., a wholly-owned subsidiary of the company, and GSS relating to such aircraft will terminate on the same date.

Effective with the termination of the agreement, the three 747-8Fs will be redelivered to the company by GSS. Through GSS, the company also will receive contractual early termination fees from British Airways.