Atlas Air Worldwide has completed the acquisition of Southern Air Holdings in a deal worth about $110 million.
The deal will give Atlas access to Southern’s fleet of crew, maintenance and insurance Boeing 737s and Boeing 777s. The five Southern 737s and five 777s will compliment Atlas’ fleet of more than 75 aircraft, which are a mix of Boeing 737s, 747s, 757s, 767s and 777s on ACMI (aircraft, crew, maintenance and insurance), charter, CMI, and dry-leasing operations.
Atlas Air Worldwide president and chief executive officer, William Flynn says: “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.”
Southern Air is the parent company of Worldwide Air Logistics Group and its operating subsidiaries, Southern Air and Florida West International Airways. Atlas Air Worldwide is the parent company of Atlas Air, Titan Aviation Holdings and now Southern Air, as well as the majority shareholder of Polar Air Cargo Worldwide.