Atlas Air Worldwide, parent of Atlas Air and Polar Air Cargo, said it will retire seven of its 14 747-200s. “The current pronounced downturn in global airfreight demand has caused us to accelerate our plans to retire a portion of our older 747-200 assets,” president and CEO William Flynn said. AAWW expects to report full-year 2008 pre-tax operating income of US$55-$60 million when it releases its earnings on 24 February.