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  <TITLE> Atlas Air Worldwide Holdings, Inc. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	May 23, 2007
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  	Atlas Air Worldwide Holdings, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Delaware
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  	0-25732
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  	13-4146982
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	2000 Westchester Avenue, Purchase, New York
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  	10577
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	914-701-8000
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
  </P>
  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
  </B>
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  <FONT SIZE="2">
  On May 23, 2007, the stockholders of Atlas Air Worldwide Holdings, Inc. ("the Company") approved the Atlas Air Worldwide Holdings, Inc. 2007 Incentive Plan (the "Plan") making the Plan effective as of that date.  The Plan had previously been approved by the Company&#x2019;s Board of Directors on April 6, 2007, subject to stockholder approval.  <br><br>The purpose of the Plan is to advance the interests of the Company by providing for the grant to eligible participants of stock-based and other incentive awards. The Plan is intended to accomplish these goals by enabling the Company to grant awards in the form of options, stock appreciation rights, restricted stock, unrestricted stock, performance awards, cash awards and stock units, including restricted stock units or combinations thereof.<br><br>The Plan replaces the 2004 LTIP Plan (the "prior plan"), and no new awards will be granted under the prior plan. Awards outstanding under the prior plan will continue to be governed by the terms of that plan and agreements under which they were granted.   The Plan limits the terms of awards to ten years and prohibits the granting of awards more than ten years after the effective date of the Plan.  An aggregate of 628,331 shares of common stock are reserved for issuance to participants under the Plan.<br><br>A copy of the Plan was also included as Appendix A of the Company&#x2019;s Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission on April 17, 2007.<br>
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  	Item 9.01 Financial Statements and Exhibits.
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  10 - Atlas Air Worldwide Holdings, Inc. 2007 Incentive Plan
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	Atlas Air Worldwide Holdings, Inc.
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  	&nbsp;&nbsp;
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  <I>
  	May 24, 2007
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  	&nbsp;
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  <I>
  	By:
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  <I>
  	Adam R. Kokas
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  	&nbsp;
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  <I>
  	Name: Adam R. Kokas
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  <I>
  	Title: Senior Vice President, General Counsel and Secretary
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	10
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  	&nbsp;
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  Atlas Air Worldwide Holdings, Inc. 2007 Incentive Plan
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_20517.htm", "description": "LIVE FILING", "secsgml_size_bytes": 11369}]
metadata_filer: {"company-data": {"conformed-name": "ATLAS AIR WORLDWIDE HOLDINGS INC", "cik": "0001135185", "assigned-sic": "4522", "irs-number": "134146982", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-16545", "film-number": "07875847"}, "business-address": {"street1": "2000 WESTCHESTER AVENUE", "city": "PURCHASE", "state": "NY", "zip": "10577-2543", "phone": "9147018000"}, "mail-address": {"street1": "2000 WESTCHESTER AVENUE", "city": "PURCHASE", "state": "NY", "zip": "10577-2543"}}
text: Atlas Air Worldwide Holdings, Inc. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  May 23, 2007
  Atlas Air Worldwide Holdings, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  0-25732
  13-4146982
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  2000 Westchester Avenue, Purchase, New York
  10577
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  914-701-8000
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
  On May 23, 2007, the stockholders of Atlas Air Worldwide Holdings, Inc. ("the Company") approved the Atlas Air Worldwide Holdings, Inc. 2007 Incentive Plan (the "Plan") making the Plan effective as of that date.  The Plan had previously been approved by the Company's Board of Directors on April 6, 2007, subject to stockholder approval.
  The purpose of the Plan is to advance the interests of the Company by providing for the grant to eligible participants of stock-based and other incentive awards. The Plan is intended to accomplish these goals by enabling the Company to grant awards in the form of options, stock appreciation rights, restricted stock, unrestricted stock, performance awards, cash awards and stock units, including restricted stock units or combinations thereof.
  The Plan replaces the 2004 LTIP Plan (the "prior plan"), and no new awards will be granted under the prior plan. Awards outstanding under the prior plan will continue to be governed by the terms of that plan and agreements under which they were granted.   The Plan limits the terms of awards to ten years and prohibits the granting of awards more than ten years after the effective date of the Plan.  An aggregate of 628,331 shares of common stock are reserved for issuance to participants under the Plan.
  A copy of the Plan was also included as Appendix A of the Company's Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission on April 17, 2007.
  Item 9.01 Financial Statements and Exhibits.
  10 - Atlas Air Worldwide Holdings, Inc. 2007 Incentive Plan
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Atlas Air Worldwide Holdings, Inc.
  May 24, 2007
  By:
  Adam R. Kokas
  Name: Adam R. Kokas
  Title: Senior Vice President, General Counsel and Secretary
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  10
  Atlas Air Worldwide Holdings, Inc. 2007 Incentive Plan