Atlas Air Worldwide Holdings said it has terminated orders for three early-production Boeing 747-8 Freighter jets, citing lengthy delivery delays and "performance considerations."

The company, which provides charger freight services to commercial airlines and the U.S. military, initially had orders for 12 freighter versions of the iconic 747 on the books. It said it expects to receive three of the nine that remain on order this year, four in 2012, and two in 2013.

"We expect the remaining 747-8Fs in our order to be better performing aircraft than those we have terminated," Atlas Air Chief Executive William Flynn said in a statement. (Reuters)