Atlas Air Worldwide completes Southern Air acquisition
07 / 04 / 2016
Atlas Air Worldwide Holdings has completed its acquisition of Southern Air Holdings in a deal worth $110m.
The deal, which was funded with cash on hand, was first announced in January this year but was finally completed today.
Atlas said the deal would provide it entry into the Boeing 777 and B737 aircraft market.
Atlas Air Worldwide president and chief executive William Flynn said: “We are proud to welcome Southern Air, its operating companies, and its professional, experienced workforce to the Atlas family.
“Together, we will be a stronger, more diversified, more profitable company offering access to the widest range of modern, efficient aircraft for domestic, regional and international applications.
“We have known and respected Southern Air for some time, and we have a lot in common. We are both committed to safety, customer service, and performance excellence.
“Our complementary operations will also provide a broader array of services for customers and new avenues of business growth, which will generate greater opportunities for employees and drive value for shareholders.”