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Atlas Air to buy Southern Air for US$100 million in cash
ATLAS Air Worldwide Holdings Inc, which operates Polar Air Cargo and Titan Aviation Holdings, is to acquire air cargo and freight services provider Southern Air Holdings Inc for US$110 million in cash.
The acquisition will give Atlas additional services in operating Boeing 737 and 777 aircraft.
Kentucky-based Southern Air owns Worldwide Air Logistics and Florida West International Airways, and has an operating agreement with DHL Express.
"The result will be a more diversified and profitable company offering access to the widest range of modern, efficient aircraft, together with a broader mix of services and a greater scale and global footprint that will drive significant value for our customers and shareholders," said Atlas Air CEO William Flynn, reported New York's Mergers & Acquisitions.
The acquisition will give Atlas additional services in operating Boeing 737 and 777 aircraft.
Kentucky-based Southern Air owns Worldwide Air Logistics and Florida West International Airways, and has an operating agreement with DHL Express.
"The result will be a more diversified and profitable company offering access to the widest range of modern, efficient aircraft, together with a broader mix of services and a greater scale and global footprint that will drive significant value for our customers and shareholders," said Atlas Air CEO William Flynn, reported New York's Mergers & Acquisitions.
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