Investment group acquires Atlas Air

An investment group led by Apollo Global Management has completed the acquisition of freighter operator Atlas Air Worldwide Holdings. The agreement, announced in August last year, makes Atlas Air a private company and its shares will no longer be listed on the Nasdaq stock exchange. Apollo and its affiliates have agreed to pay approximately USD 2.9 MM for a controlling stake in Atlas Air. Under the terms of the agreement, the cargo airline’s shareholders will receive USD 102.50 per share in cash. According to the investment group, the total value of the deal is USD 5.2 MM. The airline will continue to operate under the Atlas Air Worldwide name and will be led by President and Chief Executive John Dietrich and the carrier’s current executive leadership team. Atlas Air regularly serves the Brazilian market, and in addition to daily flights, the company offers its services for the transport of goods, parts, pharmaceuticals, industrial and electronic equipment in all regions of the country. The company is the current largest operator of the Boeing 747. In January, Atlas Air and Boeing celebrated the delivery of the last ‘Jumbo’ produced. – https://aeromagazine.uol.com.br/artigo/grupo-de-investimento-adquire-a-atlas-air.html