Atlas Air Worldwide Holdings will be stepping into the B777 and B737 aircraft market, following the completion of its acquisition of Southern Air Holdings on April 7.
First announced back in January of this year, the cash-on-hand deal is reportedly worth US$110m.
Commenting on the acquisition, Atlas Air Worldwide’s President and CEO, 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.
Flynn went on to remark that the merging of the two companies will mean an enhanced service offering for customers, new opportunities to grow the business, which will benefit employees, and increased value for shareholders.
